Today we’re going to do a spotlight on the great Charlie Munger, Warren Buffet’s longtime business partner and one of the richest people alive. Here is his advice on how NOT to be successful.
“[If you want to guarantee a life of misery], be unreliable. Do not faithfully do what you have engaged to do. If you will only master this one habit you will more than counterbalance the combined effect of all your virtues, howsoever great. If you like being distrusted and excluded from the best human contribution and company, this prescription is for you. Master this one habit and you can always play the role of the hare in the fable, except that instead of being outrun by one fine turtle you will be outrun by hordes and hordes of mediocre turtles and even by some mediocre turtles on crutches.
“I must warn you that if you [do the opposite] it may be hard to end up miserable, even if you start disadvantaged. I had a roommate in college who was and is severely dyslexic. But he is perhaps the most reliable man I have ever known. He has had a wonderful life so far, outstanding wife and children, chief executive of a multibillion dollar corporation. …you simply can’t count on your other handicaps to hold you back if you persist in being reliable.”