In memory of Charlie Munger, who departed on Nov. 28 at the venerable age of 99, it's fitting to pay tribute to a man whose reflections on life and career encapsulate a wisdom that will endure beyond his passing.
A Nonlinear Journey:
Charlie's professional trajectory wasn't a conventional climb up the corporate ladder. Graduating from Harvard Law School, he embarked on a career in law, constructing a family and a life. However, the allure of something more significant beckoned—a desire beyond the confines of a senior law partner's earnings. He delved into investing, real estate, and ultimately co-founded a law firm. Yet, practicing law didn't satiate his hunger for independence as a capitalist.
Fateful Encounter with Buffett:
A pivotal moment occurred at a dinner party in Omaha when Charlie Munger was introduced to Warren Buffett. Shared values in business, finance, and life forged a bond that would lead to a transformative decision. Buffett convinced Munger to abandon law and venture into business together—a decision Munger would later describe as incredibly good.
Three Rules for Career Satisfaction:
Charlie Munger distilled a lifetime of experience into three rules for career satisfaction that resonate profoundly:
Integrity in Action: "Don't sell anything you wouldn't buy yourself." The golden rule of delivering to the world what one would purchase, earning not just monetary success but respect and trust.
Admiration and Respect: "Don't work for anyone you don't respect and admire." Choosing mentors and leaders wisely, steering clear of authority figures one doesn't aspire to emulate.
Passion and Enjoyment: "Work only with people you enjoy." Emphasizing the importance of intense interest in one's pursuits, coupled with a love for the company one keeps.
A Life Lived by Principles:
Charlie Munger wasn't just an advocate of these principles; he embodied them. His partnership with Warren Buffett exemplified a harmonious blend of shared values, mutual respect, and the joy of working together.
Legacy Beyond:
Beyond his roles as Vice Chairman of Berkshire Hathaway and the right hand of Warren Buffett, Munger's legacy extends to his legendary status as a pragmatic investor and active philanthropist. His wide-ranging wisdom spanned psychology, economics, biology, history, and physics—a testament to a mind constantly seeking understanding.
A Final Gift:
In one of his last writings for CNBC Make It, Munger shares his reflections, a gift to those navigating their own career paths. As we bid farewell, an abridged version of his book, "Poor Charlie's Almanack," is set to release, ensuring that his wisdom continues to inspire generations long after he's gone.
Charlie Munger leaves behind not just a legacy in business and investment but a set of principles that serve as a compass for those seeking satisfaction and success in their own journeys. May his reflections guide us as we navigate the complexities of life and career, echoing the enduring wisdom of a remarkable individual.
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