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Charlie Munger

Vice chairman of Berkshire Hathaway, 1978โ€“2023

United States ยท b. 1924

Was vice chairman of Berkshire Hathaway from 1978 until his death in 2023, and chairman of Wesco Financial and the Daily Journal Corporation. Trained as a lawyer at Harvard Law School and practised in Los Angeles before moving into investment.

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How has a failure, or apparent failure, set you up for later success? Do you have a favourite failure?
Life will have terrible blows, horrible blows, unfair blows. Doesn't matter. And some people recover and others don't. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion.

Recorded USC Gould School of Law commencement, Speakola, 2007 source

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