Greed, Envy, and Happiness

Way back in the nineties, when I was pursuing engineering, there were only two options for seeking a job. Either go to Mumbai or Pune. There wasn’t any other choice. And, over the years, we knew that the seniors who went to these places got some jobs. Hence, others followed them. This was a common practice. It was a herd mentality. Finish your degree and move to Pune or Mumbai.

My friend Manish followed the same route. Like many engineering graduates, he also came to Pune in search of a job. He was just twenty-one then. While searching for a job, he stayed in a shared room. There were four of them in that room. Two had some jobs, two were still unemployed. The accommodation was too tiny and dingy, to say the least. But he had no choice. He continued to struggle for the next six months. And finally, he managed to get a job.

He stayed in that shared room for more than two years. And meanwhile kept on searching for a better job. These initial days were very challenging. He switched many jobs and now after almost thirty years, he is well settled in Pune. He has his apartment, a loveable family, and well-mannered children. He looked happy. But I could sense that something is bothering him. He was not content.

When I met him last month, he narrated his life story. Though this seems to be the story of many others, there was something more to it. He continued with a long sigh and a pause. He has a friend, Pradeep. They both came to Pune together. Stayed in the same shared room. Both did similar kinds of jobs. Both struggled for existence. Both have gone through the same experiences offered by life. The life story looked almost parallel. But I was glued to it as I could see a remarkable difference in their behavioral traits. And that made all the difference.

Pradeep had the vision and foresight. Additionally, he was willing to take the risk. He wasn’t afraid to venture into unchartered territories. Due to the recently unearthed Harshad Mehta scam, the stock market was beaten down heavily. No one was buying the stocks. The real estate was available almost at throwaway prices.

He started interacting with stock brokers and real estate dealers. He picked up the necessary skills and started nibbling the cheap stocks. In the next five years, he purchased a one-bedroom flat in the suburb. Soon the real estate boom began. He was lucky to triple his flat price. He sold it off and bought a piece of land. He kept on buying and selling real estate. However, he held on to all the stocks he had purchased.

Pradeep kept on advising Manish to invest in stocks and buy a small flat. Even he was ready to lend him a loan. But Manish could not see what Pradeep was seeing. He considered the stock market and real estate as a big risk. He was afraid of putting his hard-earned money into these avenues. He had all the opportunities in front of him. He had his best friend advising him. But still, he didn’t take that bold step.

Manish told me that today, Pradeep has a portfolio of Crores, one farmhouse, three offices, and two flats in Pune. I could sense a pinch of sadness mixed with a lot of envy in his voice. It wasn't a pleasing experience.

Manish could have also achieved what Pradeep could. But his behavioral attitude of excessive risk aversion did not allow him to take advantage of the situation. He has no right to complain. He has to blame himself for these lost opportunities.

No one has the ability to crystal gaze. Most of us live life as it comes. Many do not even plan. But when the opportunity strikes, one should show the courage and conviction to grab it with both hands. And still, if you could not achieve what others could, at least you should not envy them.

The wise old man Charlie Munger aptly said, "Someone will always be getting richer faster than you. This is not a tragedy… The idea of caring that someone is making money faster than you are is one of the deadly sins. The world is not driven by greed. It’s driven by envy.”