The Lollapalooza Scam

In his legendary 1995 Harvard lecture, “The Psychology of Human Misjudgment,” Charlie Munger, famed financier, polymath and co-chair of Berkshire Hathaway, listed no less than twenty-five cognitive biases that distort our thinking and introduced the Lollapalooza.Q2 2020 hedge fund letters, conferences and moreThe Lollapalooza!The exponential result when combined effects of cognitive biases potentiate each other.So the whole is far greater than the parts.Think of market bubbles and crashes.Fads and manias.As in “Extraordinary Popular Delusions and the Madness of Crowds” by Charles Mackay (1841)…

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HEDGE accordingly