The Psychology of Human Misjudgment, by Charlie Munger

Each ant, like each human, is composed of a living physical structure plus behavioral algorithms in its nerve cells. In the ant’s case, the behavioral algorithms are few in number and almost entirely genetic in origin. The ant learns a little behavior from experiences, but mostly it merely responds to ten or so stimuli with a few simple responses p... See more

After all, why should I search for some tiny, unimportant, hard-to-find new stupidity in my own field when some large, important, easy-to-find stupidity was just over the fence in the other fellow’s professional territory?

And despite years of being smoothed out by the hard knocks that were inevitable for one with my attitude, I don’t believe life ever knocked all the boy’s brashness out of the man.

I was afraid, if I tried any such restricted approach, that I would end up, in the immortal words of John L. Lewis, “with no brain at all, just a neck that had haired over.”

My old Harvard Law classmate, Ed Rothschild, always called such a popping-off “the shoe button complex,” named for the condition of a family friend who spoke in oracular style on all subjects after becoming dominant in the shoe button business.

Part of Cialdini’s large book-buying audience came because, like me, it wanted to learn how to become less often tricked by salesmen and circumstances. However, as an outcome not sought by Cialdini, who is a profoundly ethical man, a huge number of his books were bought by salesmen who wanted to learn how to become more effective in misleading cust... See more