Collection: Mohnish Pabrai - #1 'Envy & Ego'



[Transcript]

MOHNISH PABRAI 00:07

I just want you to actually spend a minute or two on Rajat, because I think that even if you don't get any value from the presentation I'm making.


I think there's a you can see a Shakespearean value in some of the events that have transpired and you know, my heroes Warren Buffett and Charlie Munger say that "Envy is one of the worst of all the human vices that you can have."


In fact, many other human vices you can get an upside from having those vices. With envy – you have envy towards anybody all that's going to happen is, you got the feedback.


And the – in the case of Rajat, you know, he was off the chart successful. But his downfall was led by two things, I think the two traits, basic human traits. And one was envy, he was envious of a person who was much more successful than him. At least on paper and much less capable than him which is probably true.


And the second is – so envy is a very bad human trait.


And the second is ego. And ego is nothing but a false sense of self. So you know, all of us are ash and dust. We came from ash and dust, and we will be ash and dust. And it is useful to remember that. Or like a good friend of mine always said "Everyone burp and farts."


So basically, if you were to basically eliminate envy from your life. And you were to eliminate as much as you can, ego. You're very far along the path of doing quite well.


{Source: https://youtu.be/xa1CH2nK1cM)

 

[YAPSS Takeaway]