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.