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Never Stop Learning
Lifelong learning and self-improvement are valuable traits that have a compounding effect on knowledge. Charlie Munger implemented a one-hour-a-day self-education regime and after many years and thousands of books read, he saw how different areas of knowledge interplay and compound, making one more aware of the world. Charlie Munger's three rules for a career are: don't sell anything you wouldn't buy yourself, don't work for anyone you don't respect and admire, and only work with people you enjoy. Mistakes are inevitable in life, and the trick is to get to a point where you can handle them and learn from them. Charlie Munger values learning from mistakes and admits to his own mistakes, believing that admitting stupidity is a trick to perform better and improve.