Dis and Dat - Who Dat? - April 2010
"The only team that believed in me was the Saints, and I feel like I owe them a great debt of gratitude. I want to give them what they saw in me-a guy who could lead this team to a championship." ~Drew Brees
The underdogs have their day on the floats. For most fans they feel a little better watching an underdog win, instead of the clear favorite. Maybe that’s why the title of “Champ” is so elusive. The underdog usually gives a little more effort that seems magical, their fans are a little more excited, and in this case they had something to prove to the world, that their quarterback and their city wasn’t washed up. Yet in life the battle goes on. Next year’s title of Superbowl Champ will not be given away, it will have to be earned. That brings me back to reviewing John Wooden’s pyramid of success and discussing three more blocks in the foundation. They are friendship, loyalty, and cooperation.
Wooden lists friendship as “strive to build a team filled with camaraderie and respect. Comrades- in- arms.” The battle in finances are no easier, then the battles in football and other sports. With your team mates, you have to work toward the same objectives. Your team mates all have different roles to fill, yet no one should be treated disrespectfully.
Regarding loyalty, Wooden talks about “Be True to yourself. Be true to those you lead.” An investor doesn’t have to look far to find all kinds of opinions on what they should be doing with their investments. It is hard to remember at times when it seems like so much pressure to change, that you have your own goals, your own objectives, your own set of time horizons. This pressure to change usually happens when your particular strategy is out of favor, because it has performed the worse. Yet remember there is NO HOLY GRAIL of investing. Just because something has performed well or poorly in the past doesn’t mean the future will be the same.
In discussing cooperation Wooden states “ Have utmost concern for what’s right rather than who’s right” Often times it appears in hindsight that some prices just do not reflect value. Yet some market gurus who are hot in one area can say things that convince an investor to pay too much, just to be popular as well. At other times it doesn’t have to be a “guru”. It can be a friend or relative that has been successful recently and the envy comes out.
I believe all these can be combined in investing to say. You have to be focused on the task of finding value for your investment dollars, that match with your objectives and time horizons. Over the course of your life a lot of distractions will come your way that will try to make you take another course.
See you next time.
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The information contained herein is the opinions of James Pope and Shane Haag, and is not intended to be investment advice.
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