"Charlie Munger's Wisdom: Avoid Toxic People, Trust Few, and Teach Valuable Lessons"

Billionaire investor Charlie Munger, who recently passed away at age 99, shared his advice on avoiding mistakes in life during a Q&A session at Berkshire Hathaway's annual shareholders meeting. Munger emphasized the importance of good financial habits, integrity, and avoiding toxic people and activities. He believed that success comes from spending less than you earn, investing wisely, continuous learning, and discipline. Munger also advised staying away from unreliable and deceitful individuals and focusing on dealing with reliable people. His advice aligns with his belief in being cheerful despite troubles and avoiding traits associated with toxic people, such as envy and resentment. Munger's long-time business partner, Warren Buffett, also emphasized the importance of acting with integrity and treating others well.