REMEMBER WHY YOU INVEST

I went for a lovely bike ride on one of my favorite trails this week. It is a paved city trail that follows a river for about 11 miles each way. On this particular day I felt like I was really on top of my game. I seemed to have unlimited energy as I clipped along at what seemed like a record pace. I was giving myself all kinds of pats on the back about how healthy I must be.
 
As I came to the end of the river trail, I took a quick drink of water and turned to head back home along the same route. Immediately I found myself struggling to get any speed and at first couldn’t figure out what the problem was until I realized that there was a pretty stiff wind blowing in my face. I remember thinking, “Where did that wind come from all of a sudden?”
 
As I struggled against that headwind all the way back home I had plenty of time to think about how little credit I gave the wind when it was pushing me along, but how much I blamed the same wind when it made my ride tough.
 
I compared this experience to my career as a financial advisor. I thought about all the times when economic tailwinds would push investors along, as in the current growth period. How quick people are to take credit for their investing prowess when they have a tailwind. I then thought about the economic crashes I have seen in my life and likewise, how quick people were to complain and assign blame to anything and everything except themselves when they face a headwind.
 
As I continued riding, and grumbling to myself about the wind, I thought about why it was that I rode in the first place. Initially, I started because cycling is good exercise but I also ride because I love the beauty of the outdoors. I realized that the headwinds, though uncomfortable, were not preventing me from fulfilling my riding goals. In fact, they were actually helping me. I was getting a good workout and was still able to enjoy the beautiful scenery, even a bit more with my slower speed.
 
As investors, we have a tendency to curse the headwinds while giving little credit to the tailwinds, yet we can control neither. The happiest investors I know take care of the things they can control, try not to worry too much about what they can’t control, and most importantly, take time to enjoy the journey along the way. Enjoy the tailwinds and be grateful for them. Endure the headwinds and don’t get discouraged by them. And most importantly, make sure you enjoy the ride.