120 - Charlie Munger - The Psychology of Human Misjudgement
Maven Money Personal Finance Podcast
00:00
I Never Did It Before, I'll Never Do It Again
If you're going to catch ten embezzlements a year, what are the chances that any one of them applying what teversky in common call base line information? The people who have done it before and are going to do it again, what are they all going to say? I don't think vengeance is much good. We come byase, from over influence, by extra vivid ance. And so it's very easy to misweigh vivid evidence. You've got to array facts on ry structurs answering the question why. If you don't do that, you just, you cannot handle the world. He was at least 30 million dollars poorer as i sit here
Transcript
Play full episode
