When Charlie Met Marilyn: The Lollapalooza

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When Charlie Met Marilyn: The Lollapalooza

In his legendary 1995 Harvard speech, “The Psychology of Human Misjudgment,” superinvestor Charlie Munger described no less than twenty-five evolution-driven cognitive distorting powers to which our species is irrepressibly subject. If you have never heard it or read it in any of its many incarnations, it’s an intellectual tour de force that will expand your thinking forever.

Most of Charlie’s list of twenty-five is derived from social psychology. But the single greatest insight is, to my knowledge, a Charlie Munger original. Charlie calls it the Lollapalooza,” an antique term for something great and extraordinary. “Lollapalooza” was used as a “challenge word” in the World War 2 by American troops to tell friend from foe, as it is very hard for a non-English speaker to pronounce Lollapalooza correctly.

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