Charlie Munger – The Psychology of Human Misjudgment
That&#x27;s a fun read. The section on incentives is useful. But he idolizes <i>Patterson</i>, the National Cash Register guy? That guy was the Travis Kalanick of the late 19th century.<p>&quot;Politics is the art of marshalling hatreds&quot;. Munger was way ahead of his time there.<p>&quot;First-conclusion bias&quot;. Huge problem with cops.<p>&quot;It is not greed that drives the world, but envy&quot; - cited to Warren Buffett.  Hmm. He probably ran into too many business types with the mindset &quot;It&#x27;s not enough to win; someone else has to lose.&quot; Such ego trips are not useful to the stockholders.<p>&quot;Always tell us the bad news promptly. Good news can wait&quot; - Berkshire policy.<p>&quot;A job hunter who is a marvelous &#x27;presenter&#x27; often causes grave danger under modern executive-search practice.&quot; - referring to how Carly Fiorina tanked HP.<p>&quot;An excess of optimism is the normal human condition&quot; - cited to Demosthenes. 
Didn&#x27;t know that went back that far.<p>&quot;Deprival Superreaction&quot; - the asymmetry between gain and loss is well known, but not under that name.