Charlie Munger didn't leave behind a farewell letter, but he didn't need to. The Berkshire Hathaway vice chairman — Warren Buffett's sharp-witted partner for more than four decades — built a legacy out of common sense and clear thinking. Munger, who died in 2023 at age 99, reminded people that intelligence isn't what makes you rich — avoiding stupidity is.
Now, as Buffett just released his final letter to shareholders, reflecting on life, business, and the lessons learned at the top, it's hard not to think of Munger's own version of a farewell message. In a 1986 Harvard School commencement speech titled "How to Guarantee a Life of Misery," Munger offered his tongue-in-cheek guide to failure — a list of seven guaranteed ways to ruin your life, none of which involved money.
