Charlie Munger died on Nov. 28. These reflections on his life and career, which he wrote for CNBC Make It, are among his final writings.
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. I believe they can help any young person evaluating a career decision. While meeting all three is nearly impossible, you should try anyway.
1. Don’t sell anything you wouldn’t buy yourself.
The safest way to try to get what you want is to try to deserve what you want. It’s such a simple idea. It’s the golden rule. You want to deliver to the world what you would buy if you were on the other end.
There is no ethos, in my opinion, that is better for any person to have. By and large, the people who have had this ethos win in life, and they don’t win just money and honors — they win the respect and the deserved trust of the people they deal with.
Plus, there is huge pleasure in life to be…
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