We Study Billionaires - The Investor’s Podcast Network cover image

TIP616: The Godfather of Influence w/ Dr. Robert Cialdini

We Study Billionaires - The Investor’s Podcast Network

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Principle of reciprocity in human behavior

An individual received a book from a confidant, not related to finance or economics, emphasizing human behavior's crucial aspect for analysts and investors in predicting behavior for better decision-making. The person was surprised to find a share of Berkshire A stock in the mailbox with a note from Charlie Munger, acknowledging the influence of the recipient's book 'Influence'. Munger appreciated the principle of reciprocity highlighted in the book, where giving back to those who helped is crucial, reflecting the success it brought to Berkshire.

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