The Inconsistency-Avoidance Tendency: Charlie Munger’s Fifth Misjudgement, Freedman and Fraser’s 1966 Doorstep Experiment, and Why the Long-Term Equity Investor Pays for a Position on the Day He Abandons It

Chart of the rising cost of reversing a position as public commitments accumulate

This essay is for Manish Goel Plus members.

Join to unlock all 254 premium essays — the complete NorthPath archive plus every new daily edition. €15/month or €150/year. The latest Letter is always free.

🔒 254 ESSAYS IN THE ARCHIVE — AND COUNTING

Subscribe to read →

Already a member? Sign in