Berkshire Hathaway Annual Shareholder Meetings (since 1994) cover image

Bonus Episode-The Psychology of Human Misjudgement-Charlie Munger

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

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The Open Out Cry Auction Turns Human Brains Into Mush

Psychology is a combination of genetic and cultural evolution but mostly genetic. The tendencies are partly good and indeed probably much more good than bad otherwise they wouldn't be there. By and large these rules of thumb have worked pretty well for a man given his limited mental capacity. But just because they blundered into it doesn't mean you can't invent it's equivalent when you need it for a good purpose.

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