One billionaire’s (surprising) secret

I’ve been thinking a lot about this quote lately.

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

That thought was shared by Charlie Munger sometime in the late 1960s. If you haven’t heard of Charlie Munger, he’s a longtime business partner of investing legend Warren Buffet. And Munger didn’t just talk the talk. He followed his own advice and became a multi-billionaire himself — yes, billionaire, with a capital B.

Yet Munger would be the first to tell you that he didn’t make all that money through shrewd, savvy or insightful investing. No, it was the result of something much simpler — but still profound.

He just didn’t do stupid things.

And that should give us all hope. No matter how young, old, well-connected or smart we might be, it’s a strategy all of us can follow. So if your dream is to live an impactful life far beyond your neighborhood, maybe you should stop trying to spur yourself on to greatness. Instead, maybe you should just keep reminding yourself to not be stupid.

Here’s an example:

Many of us ask ourselves, “How do I become happy?” But what if we flipped the script and asked, “How do I become depressed?” Here are five ways that could happen:

1) Inadequate sleep

2) Bad diet

3) Meaningless work

4) No exercise

5) Comparing our lives on social media

In Munger’s view, avoid those things and you are well on your way to being happy. 

It’s called “the inversion principle,” and here’s why it makes a lot of sense. Some of us are motivated by the promise of a reward (do this to earn this), while others are inspired by the fear of losing something (if you don’t this, you won’t have this). 

•Promise of Reward — If you eat right and exercise, you’ll have a strong and healthy body.

•Fear of Losing — If you don’t start eating right and exercising, your health will decline dramatically.

We’re both heading to the same destination, but taking different routes to get there. So, how does that relate to our lives? Let’s say you’re an aspiring athlete. Maybe you should stop asking, “How do I become a great high school player?” Maybe the question should be, “What would make my coach NOT want to play me in high school?”

1) I only do what’s required

2) I’m not in top physical condition

3) I haven’t become a star at one skill

4) I spend far more time on my phone than in the gym

5) I just want to be one of the guys (or girls)

Avoid those things and you’re well on your way to lots of playing time.

What if you’re an adult looking to rise in your workplace? What would make the boss choose SOMEONE ELSE?

1) I do EXACTLY what I’m asked to do

2) I do ONLY what I’m asked to do

3) I’ve got lots of years invested, but I haven’t become better at my craft

4) I like to blame, complain, and defend

5) I’m a negative influence on other employees

By the way, Charlie Munger turned 96 on New Year’s Day and has slowed down little, if at all. He remains chairman of the the Daily Journal Corp. and is on the board of Costco. He’s also a voracious reader, writer and thought leader, and he continues to accept public speaking gigs.

Here’s a thought: Maybe Munger continues to change the world at an advanced age not because he’s focused on doing great things — but simply because he refuses to do anything stupid.

And maybe, just maybe, following his lead would be a smart thing for all of us.