A 96-year-old billionaire (Charlie Munger) recorded a single sitting where he outlined 25 psychological biases that cause smart people to make terrible financial decisions—covering ground MBA programs charge $200k to teach. The video became required viewing at top hedge funds and investment firms, yet remains largely unknown despite 40 million people knowing his name.

• Charlie Munger recorded a free 42-minute lecture covering 25 psychological biases behind bad financial decisions—content MBA programs charge $200k to teach.
• He bluntly called crypto antisocial and private equity full of wretched excess, and said index funds beat most active managers, to a room of money managers who didn't push back.
• Hedge funds reportedly show this video to new hires as their first piece of training, ahead of any textbook or trading model.
• He died the year after recording it, and despite 40 million people knowing his name, almost none have watched it.