I personally feel that Munger's contribution is very great, especially regarding the weaknesses of human nature, and it has a very good reference value for investors.
1 Incentive
Super switch, the role of motivation cannot be overemphasized. As long as you can use motivation, don't use anything else. (Franklin: Use interests rather than reason)
2 love
People long to love and be loved, so love is more important than facts. Then they will turn a blind eye to the shortcomings of the one they love, listen to their will, and prefer what they love. Even distorting the facts.
3hate
Hate and love are mirror images. Because of hate, people ignore the merits of the hater, and even everything related to it, and do not hesitate to distort the facts.
4 Hate uncertainty
People don't want to get stuck in a state of doubt and uncertainty and always want to make decisions immediately. This is caused by evolution. And it is related to confusion and pressure. The greater the pressure and confusion, the more people want to get rid of doubts as quickly as possible.
5 Consistency
People hate inconsistency and always want to be consistent, which makes habits crucial. They are a quick way to achieve consistency in life. Good habits make people get twice the result with half the effort, while bad habits make people get twice the result with half the effort.
6Curiosity
Human curiosity is the strongest in nature. But on the other hand, curiosity kills the cat.
7 fair
Everyone desires fairness (there is a specific explanation of this psychology in "The Heart of Justice")
8jealousy
This is one of the oldest switches and definitely comes from evolution. Jealousy between brothers and sisters or even between gods and strangers. Buffett said: “It’s not greed that moves the world, it’s envy.”
9Return a favor and a tooth for a tooth.
10 Simple Association Even if two things are superficially connected, people will have an association with people's judgments, which will also have an impact on people's judgments.#AI板块强势进击 #BTC走势分析 #美联储何时降息？ #灰度GBTC资金流出趋势结束了吗？ #5月市场关键事件 $BTC $ETH $BNB