The investment world reveres the late Charlie Munger for his profound wisdom and success principles. His three cardinal rules for career satisfaction and success have been a beacon for many aspiring investors and professionals.
Munger, who passed away in 2023, had shared his insights on achieving success in life and career. His journey, which began at a prestigious law firm in California, led him to investments in stocks, businesses, and property development, culminating in the establishment of his own law firm.
Munger’s three fundamental rules for career satisfaction were: strive to deserve what you want, work under individuals you admire, and maintain a deep interest in your work. He highlighted the importance of reputation, integrity, and the joy of earning deserved trust.
“I have three basic rules for career satisfaction… While meeting all three is nearly impossible, you should try anyway,” Munger wrote for CNBC. His first rule was to never sell anything one wouldn’t buy for oneself, a principle rooted in the golden rule.
Also Read: Here's How Charlie Munger's Final Investment Move Doubled His Money, Reveals His Close Friend Li Lu
Munger also emphasized the importance of working only for those one respects and admires, cautioning against the risks posed by authority figures who exert influence, especially through rewards.
"Generally, your outcome in life will be more satisfactory if you work under people whom you correctly admire," Munger wrote.
Lastly, he advocated for working with people one genuinely enjoys and aligning work with personal interests. Munger’s career and life philosophy have been a guiding light for many in the investment world.
"I’ve had marvelous partners, full of assiduity, all my life. I think I got them partly because I tried to deserve them, and partly because I was shrewd enough to select them, and partly because there was some luck," he added.
His emphasis on integrity, reputation, and passion for work, coupled with his successful partnership with Warren Buffett, have left an indelible mark on the industry.
His teachings and principles will continue to inspire and guide future generations of investors.
Read Next
