Charlie Munger, renowned for his partnership with Warren Buffett in building Berkshire Hathaway, recently reflected candidly on the nature of his success in investing and life. During the company’s 2019 annual shareholders meeting, Munger offered insights into how he views his achievements, opting for a stance marked more by contentment and realism than boastfulness.
Asked about any particular accomplishments he felt proud of, Munger responded that he had no singular milestone that filled him with pride. Instead, he attributed a significant portion of his success to favorable circumstances rather than taking credit for a unique genius or exceptional personal achievements. "I don't have a single accomplishment in life that I'm all that proud of," he stated, emphasizing the moderateness of his own ambitions and results.
He elaborated on this viewpoint by acknowledging the role of serendipity in his life journey. Munger noted that much of what had unfolded in his favor derived from being "born in the right place at the right time," a fact he was "pleased but not proud" about. This honesty underscores his resistance to the common human inclination to ascribe success entirely to individual effort in isolation from external influences.
Munger shared that his personal goal was straightforward, setting out to develop "more uncommon sense than most," a modest aim by many standards. By this measure, he expressed satisfaction with his outcomes, stating that he was pleased he "did as well as I did in that game." He also reflected on the increasing difficulty of such success if given another chance under present-day conditions.
Underpinning Munger's perspective is his well-known philosophy of "worldly wisdom." This approach values rational thought, broad conceptual frameworks, and consistent avoidance of folly more than flashy displays of intelligence or major gambles. He stressed that investors and business leaders should prioritize humility and disciplined thought over pride, especially recognizing how luck, timing, and social environment heavily influence results.
Alongside Buffett, Munger has described the accumulation of Berkshire Hathaway’s wealth as the product of compounding minor advantages, living frugally, and steering clear of large, irreversible mistakes. Their shared lessons highlight living within one's means, careful investing, ongoing learning, and emotional self-control as pillars of steady wealth creation.
At the same 2019 meeting, Munger further underscored this humility when answering a question about the wealth disparity between himself and Buffett. Jokingly, he said Buffett was "so much richer" because he "got an earlier start." Munger also conceded that Buffett was likely "a little smarter" and "worked harder," underscoring Munger's low-ego approach to their respective roles in building their joint fortune.
For followers and analysts, Munger’s comments distill a compelling message. Rather than extolling individual triumphs, he advocates respecting the complex mix of luck, patience, and prudent decision-making that ultimately shapes long-term success. His emphasis remains on quietly avoiding pitfalls and steadily compounding gains instead of seeking glory.