Paul Munger, the other half of the dynamic duo that makes up Berkshire Hathaway, believes that lifelong learning is essential to long term success. He uses his company and his partner Warren Buffet as an example.
“If you take Berkshire Hathaway, which is certainly one of the best-regarded corporations in the world and may have the best long-term investment record in the entire history of civilization, the skill that got Berkshire through one decade would not have sufficed to get it through the next decade with the achievements made,” he says. “Without Warren Buffett being a learning machine — a continuous learning machine, the record would have been absolutely impossible.”
His three tips to becoming a life-long learner are to read, exercise your brain, and pass on your wisdom.
Wise words from a great investor.
Genius is one percent inspiration and ninety-nine percent perspiration.