Charlie Munger Warned Envy Is A 'Stupid Sin' That Brings Only Pain And No Fun — 'Someone Will Always Be Getting Richer Faster Than You'

Charlie Munger, the revered vice chairman of Berkshire Hathaway and Warren Buffett's longtime business partner, passed away just before his 100th birthday in November 2023. 

In the latest shareholder letter, Buffett refers to Munger as the architect of Berkshire Hathaway. Munger's advice and insights have left an indelible mark on the world of investing and beyond. His wisdom, captured in "Poor Charlie's Almanack," remains as relevant today as ever.

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Munger's approach to life and business was rooted in simplicity and pragmatism. He emphasized that true success and happiness extend far beyond mere wealth accumulation. One of his most poignant reflections is, "If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation."

A key aspect of Munger's philosophy was the importance of knowing what to avoid in life. He believed avoiding negative situations and behaviors is crucial for long-term success and happiness. "A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc." 

Munger also spoke extensively about contentment and the perils of envy. He stressed the importance of being satisfied with what one has, rather than constantly comparing oneself to others. "Here's one truth that perhaps your typical investment counselor would disagree with: If you're comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what?! Someone will always be getting richer faster than you. This is not a tragedy." 

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According to Munger, envy is particularly detrimental. He highlighted it as one of the most foolish sins, with no redeeming qualities: "The idea of caring that someone is making money faster than you are is one of the deadly sins. Envy is a really stupid sin because it's the only one you could never possibly have any fun at. There's a lot of pain and no fun. Why would you want to get on that trolley?" 

Despite amassing billions, Munger experienced significant personal tragedies throughout his life. He faced numerous overwhelming challenges, including a failed marriage, financial ruin, the loss of his beloved son to leukemia at age nine, and the surgical removal of his left eye following a botched cataract surgery. Yet, Munger never succumbed to self-pity. During a special event at the University of Michigan's Blodgett Auditorium, he stated, "I found in my long life one thing you'd never do is never feel sorry for yourself."

Munger's central ethos emphasizes proactive change, perseverance, and adaptability as the foundations of long-term success. He advised against wasting energy predicting economic cycles in times of economic uncertainty. Instead, he advocated for focusing on competency, personal growth, and striving to achieve the life one deserves.

Munger’s wise advice is timeless, drawn from a lifetime of observation and experience. It transcends the financial world, offering guidance on how to lead a fulfilling and meaningful life. His teachings encourage us to prioritize happiness, avoid unnecessary risks, and steer clear of destructive emotions like envy.

His insights will continue to inspire and guide future generations, proving that the principles of a good life are indeed timeless.

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