Wells Fargo CEO John Stumpf Tells University Of Minnesota Grads To 'Fall In Love With Mistakes'

05/25/2015 09:08 pm ET | Updated May 25, 2015

Well Fargo CEO John Stumpf told graduates of the Carlson School of Management at the University of Minnesota that in order to transition from knowledge to wisdom, they'll need to make some mistakes.

"I wish I'd been much more aggressive in sharing my mistakes and learning from other people's mistakes along the way -- you're not going to [get] old enough to make all the mistakes yourself, learn from other's mistakes," Stumpf said.

Stumpf earned his bachelor's degree from St. Cloud State University, St. Cloud, Minnesota and got his MBA from the University of Minnesota. He spoke at the Carlson School's commencement on May 18.

Stumpf said he had "three quick things with all of you that I wish someone had shared with me when I was in your seat": The "changing world I was going to go enter," "the journey of learning," and a couple of hints on how to develop and build a career. On the last note, he encouraged grads to work for a company that "shares your values, your beliefs, your ethics."

People who are happiest "fall in love with learning," Stumpf said, while adding that people should also "fall in love with mistakes."

"Find them, share them, don't repeat them, and learn from others' mistakes -- you're not going to live to be old enough to make all the mistakes yourself," Stumpf said.

Watch the full speech in the video above.

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