Author Topic: 20180215 Munger on CNBC  (Read 3093 times)

Rod

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Re: 20180215 Munger on CNBC
« Reply #10 on: February 20, 2019, 12:14:16 PM »
What is the answer to why the experiment using the best idea of each PM every year did not work?

I think Iíve heard Charlie say that the reason it didnít work is that each manager picked the idea they had done the most work on. He was illustrating a bias that we supposedly have to value most what we have invested the most in. In this case time.

Do you recall where this was said?

It's in the first 10 minutes of this Mohnish Pabrai talk:

https://youtu.be/kNAuELYN5X4


coc

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Re: 20180215 Munger on CNBC
« Reply #11 on: February 21, 2019, 10:23:58 AM »
What is the answer to why the experiment using the best idea of each PM every year did not work?

I think Iíve heard Charlie say that the reason it didnít work is that each manager picked the idea they had done the most work on. He was illustrating a bias that we supposedly have to value most what we have invested the most in. In this case time.

Do you recall where this was said?

It's in the first 10 minutes of this Mohnish Pabrai talk:

https://youtu.be/kNAuELYN5X4

Thanks!

savant

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Re: 20180215 Munger on CNBC
« Reply #12 on: February 21, 2019, 09:35:53 PM »
Thanks Rod!