Banker Sandy Weill recently withdrew the generous donation he’d made, out of the goodness of his altruistic little billionaire heart, to Paul Smith College after he learned that the school could not change it’s name to Weill-Smith College. Not wanting to find himself similarly disappointed, Charles Widger, a successful hedge fund manager, explicitly stipulated that Villanova Law School should become the Villanova Charles Widger School of Law in exchange for his $25 million donation.
On May 13, 2007, Charlie Munger gave a memorable keynote speech at USC Law School’s commencement ceremony. While he is especially well known for his work as an investor and longtime associate of Warren Buffet, Munger began his career as a lawyer, graduating from Harvard Law School in 1948.
However, Munger did not deliver the typical go-get-‘em oratory packed with inspiration and lofty ideals of justice. Instead he offered up the most practical and realistic advice he could distill after 83 years of living. What is perhaps most striking and refreshing about his speech is the simplicity of the values and practices that he found indispensable to a successful life.
Here are a few highlights: