Lessons from Linda

An Introduction to "Standard Thinking Errors"

Charlie Munger is the first lawyer I knew who carefully studied “standard thinking errors.” He talked about them in his famous speech on The Psychology of Human Misjudgment.

My last email offered a well-known test of one type of thinking error known as the conjunction fallacy. As I write this, 162 people took the test and 36% fell prey to the conjunctio…