Munger took aim at performance chasers, noting that investors need only to have a sensible way to keep wealth growing (especially if they are already rich). If someone else is getting rich, so what? Someone else will always be doing better. He asserted that the notion that an investor or investment manager should be “required” to beat everyone else is nonsense. The real key is to know what you really want to avoid and give those things a wide berth (such as a bad marriage, an early death, and so on). Do this and life will go much better, he advised.(45)
