Charlie Munger Commencement Address - USC

 

 

 

Having a good profession, such as a lawyer,
does not necessarily make a person more ethical.
However, they earn not only money and honor
but also respect and meaningful trust.
Gaining respect and trust is a great joy in life.




Leading a life filled with greed may bring wealth and fame to villains,
but people rejoice at their death.
One should not live such a life.




There is nothing as important as love based on admiration.
One should not engage in love based solely on desire.




Acquiring wisdom is a duty in life.
One must learn and study throughout their life.
Even Warren Buffett's investment approach changed over time.




One should explore history and all disciplines
to understand the essence of each field.




We may think we have freedom, but in reality,
we only have the freedom to act below our income.




Jealousy, resentment, revenge, and self-pity are destructive ways of thinking.




Do not think that your benefit is synonymous with the benefit of humanity.




To persuade a person, do not appeal to their conscience.
Persuade them by showing that it is in their interest.
Human pursuit of self-interest is powerful.