Psychology of Misjudgment #25: Lollapalooza Tendency:

[LongHaul]

25. Lollapalooza Tendency

 

"The tendency to get extreme consequences from confluences of psychological tendencies acting in favor of a particular outcome."

 

You may have noticed that few 0f Munger’s biases work in a vacuum. Most work in concert to produce bad decisions. Going through Munger’s tendencies like a checklist is one way to unravel the biases potentially leading you to irrational mistakes.

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These biases when combined are almost like mind control exhibiting a very powerful influence on a person. 

Helps to at least be aware of many of the biases so one can minimize the effect.  Easier said than done.

 

In some sense, one almost has to be constantly striving for independent and rational thoughts, understanding and then rational action in this insane world.