Charlie Munger Taught His Son An Important Lesson On Respect, Responsibility And Old-Fashioned Common Courtesy: 'When You Borrow A Man's Car, Always Return It With A Full Tank Of Gas'

Charlie Munger, a name synonymous with wisdom in both investing and personal ethics, offers a lesson that resonates beyond finance. 

Born in Omaha, Nebraska, Munger’s journey from a teenager working at the Buffett & Son grocery store to becoming the vice chairman of Berkshire Hathaway Inc. is a testament to his determination and intellect. Munger, 99, not only excels in making astute investment decisions but also in imparting timeless values.

His story begins in Omaha, working at a grocery store owned by Warren Buffett’s grandfather. After serving in the U.S. Army Air Corps and attending Harvard Law School without an undergraduate degree, Munger’s path led him to Southern California, where he practiced law before meeting Buffett. The meeting marked a turning point, steering Munger toward a career in investing.

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Munger’s success in investing is notable, with his fund achieving a 19.8% annual return over its 14-year tenure, significantly outperforming the Dow. However, it’s the values he instilled in his family that resonate profoundly. His son Charles T. Munger Jr. recalls a pivotal moment that encapsulated his father’s ethos in the book "Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger."

“On the last day of a family ski vacation in Sun Valley when I was 15 or so, my dad and I were driving back in the snow when he took a 10-minute detour to gas the red jeep we were driving," the younger Munger said. "He was pressed for time to have our family catch the plane home, so I was surprised to notice as he pulled into the station that the tank was still half-full. I asked my dad why we had stopped when we had plenty of gas, and he admonished me: ‘Charlie, when you borrow a man’s car, you always return it with a full tank of gas.'”

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This lesson in respect and responsibility left a lasting impression on the young Munger. It was a principle he carried into his own life, evident when an acquaintance lent him a car during his freshman year at Stanford University. Remembering his father’s words, he returned the car with a full tank, a gesture that not only acknowledged his father’s wisdom but also cemented a lasting friendship with the acquaintance later standing as a groomsman at his wedding.

Munger’s lesson transcends the simple act of filling a gas tank; it’s about fairness, consideration and respect. These values, often overshadowed in today’s fast-paced world, were integral to the era Munger grew up in. His adherence to these principles in both his personal and professional life offers a blueprint for living with integrity.

Today, as Munger helps manage Berkshire Hathaway’s $300 billion stock portfolio and reflects on a career spanning several decades, his impact extends beyond his financial acumen. It’s in these simple yet profound lessons in character and ethics where Munger’s true legacy lies. His journey is a reminder that success is not just measured in wealth or position but also the respect and fairness shown to others.

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