The ONE Rule Every Investor Needs to Follow
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This important. I want to talk about financial preparation, not plan. Yeah, a lot. You’ll see business cards out there. I am a financial planner and people call us at Markowski Investments, registered investment advisory. I don’t even like I don’t even like really calling it financial planning. I’ve gotten away from that over the years.
Great line. Again, it’s you want to make God laugh. Tell him your plans. And again, you can plan for things, but they don’t always turn out the way you think they’re going to turn out. And this is where my belief system is, is you want to be ready for everything that involves financial preparation. Fundamentals. The companies that you’re putting in your portfolio, it’s it’s not
It’s not a video game. They’re not electronic blips on the screen. They’re really not. I know. Got a lot of guys out there, high frequency traders out there that act, that’s getting their algorithms. That’s what they do. You’re not doing that. OK. And if you are like Quint said in Jaws or Sang, farewell and adieu, you’re going to lose. Farewell and adieu to you fair Spanish ladies. Your portfolio shot.
It’s going to happen. Don’t try to do that. The value of companies and stocks, you can evaluate them in a myriad of different ways. Money the company makes, what industry, what the expectations are. When we’re managing risk, which is very, very important, you need to understand that risk, you cannot let risk lead to ruin.
and Nicholas Tallum, philosopher slash economist slash risk management expert, he had a line. He said, in a strategy that entails ruin, benefits never offset risks of ruin. Rationality is avoidance of systematic ruin. Getting back to financial plan. I don’t like that
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Again, how does one plan for decades of uncertainty? How does one really, really know exactly when they want to retire, when they’re gonna be able to retire, change careers, start a new business, find your spouse, have kids? You can’t lay that out. Life doesn’t work that way. Again, I wrote about this.
several years ago, we would we would rather think of what we do as a process that is going to be able to adapt to the unknowable terrain of life. For two and a half decades, two and a half decades on this show, even a longer period of time, but doing my newsletter much longer than that, we’ve tried to alert everyone regarding the poison that is conventional wisdom. This poison.
not limited to economics and finance, it’s everywhere. The importance in recognizing the narratives and the self -destructive strategies that are being pushed upon you from, again, I always talk about my watchdog on Wall Street, Axis of Evil, big business, politicians, media, it’s critical. And we’ve always prided ourselves here. We take great pride in recognizing and exposing, and the longer you listen to this program, the better you’re get at it. Like I said.
The longer you work on your jump shot, the longer you’re doing it the right way, the better you’re going to get at it. That’s what we do, exposing narratives and hidden agendas. Again, I wrote about, thought when I was writing this story talking about, know, this idea, not financial plan, but financial preparation, it reminded me, I said, when I coached lacrosse, started a lacrosse program down in Southwest,
Florida with some other lacrosse junkie friends of mine. This was what 20 years ago, 20 years ago, and it was, you know, that the sport was kind of foreign to Southwest Florida. And when we started our group for you, our youth group, we had some very young, very raw players, and we would go up and play Tampa had a more developed program, we were down in the Sarasota, Brayton area, and we’d
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Our ass kicked. And we go to a tournament. We have five losses our first year. But I told the kids and I told the parents, even though that they were a little bit skeptical, trust our process. OK, we just started. OK, you come to practice. You do. You bust your butt. You do what we tell you to do. Yeah, I said two years.
Nobody’s going to compete. Nobody’s going to compete. And that’s our entire practice plan. I talk about anal, I am. Every single practice down to a minute, 10 minute intervals, poop horn, onto the next thing, onto the next thing, fundamentals throwing, catching, shooting. Yeah, yeah. Within two years, nobody can stay. Nobody can mess with us. Coming up north, beating teams up north.
That’s what it takes.
That’s what takes it’s that type of process. And if you’re doing that day in and day out with everything that you’re doing in life, you have a process to things. It works.
trust it and you’re going to get where you want to be. And again, I as big fan, I know if you’ve ever seen the television show Friday Night Lights and they had the about a football team, small town football team in Texas and the coach was Eric Taylor. And he had this line that he said to his players, clear eyes, full hearts, can’t lose.
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And as it says, see the world, see the terrain, see the obstacles for what they are, not what you wish. Not what you wish they are, not what somebody is telling you are. Accept the challenges, embrace the challenges, and you do it wholeheartedly. Guess what? You’re not gonna lose. You’re not going to lose. Watchdog on wallstreet .com.
