Many things spark envy: ownership, status, health, youth, talent, popularity, and beauty. It is often confused with jealousy because the physical reactions are identical. The difference: the subject of envy is a thing (status, money, health, etc.). The subject of jealousy is the behavior of a third person. Envy needs two people. Jealousy, on the other hand, requires three: Peter is jealous of Sam because the beautiful girl next door rings him instead.
Business – when the product of any company meets success then peers feel envy which leads to a faulty decision. The faulty decision will lead to financial disturbance.
Investment – When our fellow investor has able to earn good returns that will make us envious of his success. This put us under pressure and we ended up doing some nonsense things which will result in wealth destruction.
How do you curb envy? First, stop comparing yourself to others. Second, find your ‘circle of competence’ and fill it on your own. Create a niche where you are the best. It doesn’t matter how small your area of mastery is. The main thing is that you are the king of your castle. By looking at other castles, people generally burn their own normal homes. So be careful with decisions and emotions getting born due to envy.
This entire series will be reviewed with various examples from books which are “Thinking, Fast and Slow” and “The Art of Thinking Clearly“.