How Charlie Munger Attract the BEST People to Work With! | DJ 2017 【C:C.M Ep.265】

 

[Transcript]

AUDIENCE MEMBER: How have you and Mr. Buffett become such fine judges of character and not just someone's skills and abilities?

 

CHARLIE MUNGER: Well I think partly we look smart because we pick such wonderful people to be our partners and our associates, even our employees.

 

And that’s going on right here. Gerry Salzman is not normal. He looks normal, but he’s a damn freak. Gerry does things across 2 or 3 disciplines that are almost beyond human. And he’s always been that way. By the way he’s just another mid-westerner. He’s come out of the soil back there.

 

And so we’ve been very lucky to have his wonderful people. I wish — I’m not quite sure — I think one thing we’ve done that’s helped us to get wonderful people, I always say, the best way to get a good spouse is to deserve one. And the best way to get a good partner is to be a good partner yourself.

 

And I think Warren and I have both done good with that. But whatever the reason we’ve had these marvelous partners, and they make us look a lot better than we are. You wouldn’t even be here if Gerry Salzman weren’t here. We did not have a number two choice to run the Daily Journal.

 

And by the way that happens to me all the time. We have an executive search or something. The difference between the number one and number two is like going off a cliff. And we really — we need one, but there aren’t three good ones to pick, where they’re all good and one’s a little better. Every executive search I’ve had, it seems there’s one guy whose fine and everybody else is a pigmy.

 

And I think that's kind of way of — I think good people are hard to find. And people like Warren and I have had wonderful people who we’ve worked with all our lives time after time.

 

That’s one of the reasons Warren says he tap dances to work. You’d tap-dance too if you interfaced with people Warren interfaced with all day. They’re wonderful people and they win all the time instead of losing. Who doesn’t like winning in good company?

 

So if you can duplicate that, why, you’ve got a great future. I think we were a little lucky. And I don't think — I can’t give you any luck.

 

(Source: https://youtu.be/BLctqhNClqY)

 

[YAPSS Takeaway]

"The best way to get a good spouse is to deserve one. And the best way to get a good partner is to be a good partner yourself." ~Charlie Munger