Charlie Munger, Vice Chairman of Berkshire Hathaway and Warren Buffett’s closest business partner, followed three „basic rules“ that drove his success in life — and they can help any young person today.
One’s journey to career satisfaction is not always linear. After graduating from Harvard Law School, I joined a well-regarded firm in California. I built a home and a family, and I worked hard for years.
Even so, I wanted to earn more than what a senior law partner could expect. I started investing in stocks, businesses and property development before starting a law firm with some of my colleagues.
I spent many successful years at the firm, but I wasn’t satisfied practicing law. I liked the independence of a capitalist. I liked figuring things out and making bets. I preferred making the decisions and gambling my own money. I usually thought I knew better than the client anyway, so why should I have to do it his way?
One evening, at a dinner party in Omaha, I was introduced to a fellow named Warren Buffett. Warren and I shared many ideas when it came to business, finance, history and investing. He persuaded me to quit the law at the earliest point I could afford to do so. We eventually agreed to go into business together, which turned out to be an incredibly good decision.
I have three basic rules for career satisfaction that have always helped me.
