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Better to read Munger bookarticles and buy Influence book by Robert Ciadini. Munger points out that if you dont master the multidisciplinary approach of such mental constructs, you will remain in the middle ranks or shallows in life. Im fascinated by these models, and their application to business (not just investing) and life, and decided to keep a list of ones I run across (some are related to Munger and others Ive learned about elsewhere (but believe Munger might appreciate)). I might even exceed 100. Enjoy. Attribution Theory (akaCause Theory) AutoCatalysis (aka Evergreen or Self-Breeding) Compound Interest Confirmation Bias (aka Goal Seeking or My Side Bias ) Cumulative Advantage (aka The Matthew Effect or The rich get richer) Incentives (Perhaps the most important rule in management Inversion Invert, always invert Law Of Large Numbers (aka The Law of Averages) Many of Charlie Mungers mental models can be found in Poor Charlies Almanack. Law of Scale Network Effect Over-Confidence (aka The Man on a roll theory) Someone winning in gambling produces dopamine which then produces over-confidence in that person who then gambles more (an irrational behavior). ![]() In important version of Parkinsons Law in business states that expenditures rise to meet income. Munger says that Paley of CBS was a business example of this: he didnt want to hear what he didnt like to hear. Those around him learned that and soon told him only what he wanted to hear. Eventually that led to a decline in market share for CBS (which was once the only major tv network). Scarcity People are motivated by what they stand to lose if they dont act now. Thats why the QVC countdown clock is so important for sales on television. Self-Interest Munger says one of his favorite human misjudgmentsis how the brain subconsciously will decide that whats good for the holder of the brain is good for everyone else. Some folks refer to this as people dialing into the WIIFM radio station (as inWhats In It For Me) Social Proof Munger points to Social Proof as a psychological form of scale. Many people are influenced by what others do and approve they believe that the more people that use a product the better that product is. Squelch By Denial This is related to Self-Interest abovehumans squelch anything that interferes with their own personal success or income. Munger: You squelch by denial what youve recognized would make ill of yourself or interfere with your income (for more on this, check out 1:40 or so into this StanfordCharlie Munger QA video ) is the accounting profession he points out how they sold out in such instances as derivatives trading. Do you know of any mental models you want me to add Tweet 22 Comments Carolyn Please keep going What about the law of 72 for doubling, the Kepner Tregoe method, back-upredundancy (design for the worst case), bottlenecks, feedback loops, etc. Rob Kelly Thank you, Carolyn Those are great ideas for additional mental models. Top 100 Models Pdf With 100Ill add them to the list one ones to research German Klein Rivarola This is great, check out this guy offers a pdf with 100 mental models aprox. Dtipsto loseweightfast.com Look forward to the rest I use models to type people and understand what motivates them. Rob Kelly Cool quote about Mental Models: The world simply cant be made sense of, facts cant be organized, unless you have a mental model to begin with. That theory does not have to be the right one, because you can alter it along the way as information comes in. But you cant begin to learn without some concept that gives you expectations or hypotheses. Hampden-Turner, C. Creating Corporate Culture: From Discord to Harmony) Guest Unfortunately thinkmentalmodels pdf lacks any originality.
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