One of the most iconic and revered money managers of all time is Charlie Munger. He is better known as the Vice Chairman of Berkshire Hathaway, which is the conglomerate run by another billionaire investor Warren Buffet.
Warren is 92 years old, while Charlie is 98, and so both these men have seen pretty much everything there is to see, from a life point of view.
In a recent speech, Charlie noted something very profound. He said that humanity’s problems do not stem from greed. Rather, they stem from envy.
We just need to think a little about this to understand it’s significance. In absolute terms, all of the world’s human beings are better off today than say a 100 years ago. Many essentials of today like gadgets and appliances and healthcare and peace so on were luxuries even just a century ago. But why are we still not happy, despite being better off?
The answer is because everyone else is also better off. We are not better off than others. The mind always wants to compare and see if we have won, if we are ahead, if we own more. Envy is the name of the game. Envy is also the thief of happiness.