Munger's advice on the topic on BRK's 2007 general meeting: "The best legal experience I ever got when I was very young. I asked my father why he did so much work for a big blowhard, an overreaching jerk, rather than for his best friend Grant McFaden. He said, “That man you call a blowhard is a walking bonanza of legal troubles, whereas Grant McFaden, who fixes problems promptly and is nice, hardly generates any legal work at all.” My dad was teaching me a lesson and it worked.
Considering its size, Berkshire has supported fewer lawyers than any company I can think of. We’ve gone through the world like Grant McFaden, the pioneering Omaha Ford dealer.
Figure out what you don’t want and avoid it and you’ll get what you do want. Warren had the same instincts I had. We haven’t had our share of disappointed, angry people that ruin so many lives. It’s easy to get into that position. Ask the question: How can you best get what you want? The answer: Deserve what you want!"
Or how Buffett also said once: "The best way to get out of trouble is to stay out of trouble in the first place." - Priceless
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