This is the second part of a short series outlining the 22 cognitive biases Charlie Munger talked about in his now famous speech, The Psychology of Human Judgement, which he gave in front of students at the Harvard Law School in June 1995.
Q3 hedge fund letters, conference, scoops etc
Part one contains a brief introduction and biases' one through five. In this part of the series, I cover Munger's cognitive biases six through 12.
6. Reciprocation bias tendency
People tend to act in a way that other people expect, " and that's reciprocation if you think about the way society is organized," Munger explains. He says people are very...
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