Berkshire Hathaway's Charlie Munger gave a speech at Harvard University back in the 1990's on the topic of the psychology of human misjudgment. T2 Partners' Whitney Tilson was kind enough to transcribe it and we've posted up below.
It seems that outside of the requisite financial analysis, investors are often faced with two other keys to success: mastering emotions and making good decisions. In a sense, both of those can be intertwined as you often have to set aside emotion to make smart decisions. Munger tackles some of these issues in his speech by focusing on the biases we often have to overcome.
Embedded below is the transcript of Munger's Harvard speech:
You can download a .pdf copy here.
For more reading on behavioral finance and decision making, head to Blue Ridge Capital's recommended reading list.
Monday, December 10, 2012
Charlie Munger on the Psychology of Human Misjudgment: Harvard Speech
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