“I have conquered envy in my own life. I don’t envy anybody,” Charlie Munger said. “I don’t give a damn what someone else has. But other people are driven crazy by it.”
It is something that Warren Buffett sees as almost inevitable for a certain type of investor. What type of investors are they? They are investors that always have their eyes on somebody else’s portfolio.
“There’s nothing more agonizing than to see your neighbor, who you think has an IQ about 30 points below you, getting richer than you are by buying stocks,” Buffett explained at the 2017 Berkshire Hathaway Annual Meeting. “And whether it’s internet stocks or whatever… and people succumb to it.”
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© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.