Charlie Munger shares three secrets to achieving success. (via CNBCMakeIt)
Munger expressed the importance of honing in on individual talents.
It took Munger himself many years to finally land in a career that capitalized on all of his talents. Prior to his start at Berkshire Hathaway, he co-founded his own law firm. But while he was there, he watched his clients make investment decisions that he believed could be better. He asked the students, "Why would we want to play a competitive game in a field where we have no advantage — maybe a disadvantage — instead of in a field where we have a clear advantage?"Munger prides himself on being able to handle his mistakes and said"You can learn to make fewer mistakes than other people, and how to fix your mistakes faster when you do make them," he said. "But there's no way that you can live an adequate life without [making] many mistakes.
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