New Delhi, Feb. 4 -- Late billionaire Charlie Munger, the partner in capital of Warren Buffett, the former CEO of Berkshire Hathaway, had a very simple rule for getting rich: don't confuse activity with progress.

"It takes character to sit with all that cash and to do nothing. I didn't get to where I am by going after mediocre opportunities," Munger said in a quote.

This quote means that having money creates pressure to act-to invest, buy, expand, or jump at opportunities. However, according to Munger, real strength comes from resisting the urge and waiting. He also noted that even when you can act, act with self-control and confidence - Success came from being selective, not busy.

Munger implied that chasing average, "good enough" opt...