Ken Langone attributes his multi-decade investment holds to being "loyal to my investment positions." He bets on management teams he trusts and sticks with them, treating his investments like lifelong relationships rather than transactional assets. This mindset explains his ability to hold through decades of volatility.

Standard reference checks yield generic praise. To identify true A-players, ask their former colleagues a high-stakes question: “Would you quit your current job to work for this person again?” An enthusiastic “yes” is the strongest hiring signal you can get.

Your true reputation is not what you project, but the sum of stories people tell about you when you're not in the room or after you've left an organization. This "legacy" narrative is the ultimate litmus test of your integrity and impact.

Trust isn't just an emotion; it can be built methodically. First, use repeated exposure to move from being a stranger to a known entity. Second, before making a key point, establish a baseline of shared values to create an environment of agreement.

Success for a year or even five is common; success for decades is rare and contains unique lessons. Prioritize durability above all else by studying and speaking with people who have maintained high performance over extremely long periods. This provides a filter for timeless, compoundable wisdom.

According to Mohnish Pabrai, Buffett categorizes people into three groups: 3% are terrible, 94% are average, and 3% are wonderful. To optimize your life and associations, ignore the bottom 97% and concentrate your energy exclusively on the top 3% of genuinely wonderful people.

The people around you set your performance floor and ceiling. Conduct a 'friendventory' by asking tough questions like, "Would I let my child date them?" and "Are they energy amplifiers or vampires?" to intentionally curate a circle that pushes you forward, not holds you back.

Trust isn't built on words. It's revealed through "honest signals"—non-verbal cues and, most importantly, the pattern of reciprocal interaction. Observing how people exchange help and information can predict trust and friendship with high accuracy, as it demonstrates a relationship of mutual give-and-take.

Focus energy solely on building deep, trust-based relationships with exceptional individuals. Munger believed most people are "rat poison" and should be avoided, as high-quality networks prevent most problems before they happen.