Charlie Munger’s Simple Rule for Success

Benzinga

Charlie Munger, who lived to 99 and became a billionaire, followed one guiding principle: avoid the standard ways of failing. He lived modestly for decades, cautioned against excess, and often reminded investors that avoiding “crazy” decisions is more important than chasing hype.

Transcript

00:00Want to know how Charlie Munger became a billionaire and lived to 99?

00:03He had one simple rule.

00:05I avoided the standard ways of failing.

00:08No hype.

00:09No shortcuts.

00:10Just caution.

00:11He lived in the same modest home for 70 years.

00:14When Buffett bought a $6.7 million jet, Munger thought it was too much.

00:18His advice?

00:20Avoid crazy at all costs.

00:22Crazy is way more common than you think.

00:24It's easy to slip into.

00:25So, avoid it.

00:27Avoid it.

00:27Success isn't always about chasing more.

00:29Sometimes, it's about avoiding the obvious mistakes.

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