Good Beginnings

Well begun is half done.

When you’re investing, most of the work is done before you ever spend a penny. We’ve discussed before how important beginnings are; having a sound investment plan based on your total financial picture is three quarters of the task. It’s the same with many things: the foundation you lay determines how the rest of the product turns out.

A home’s foundation needs to be level and solid. A car’s frame needs to be true and stable. And in this season of graduation and commencement, it’s important for teachers and parents to lay a straight foundation for the young lives that they touch.

In my case an outstanding history teacher challenged me to get past my initial impressions and explore the deeper issues. I distinctly remember the day he took me aside and informed me that pedestrian prose and superficial analysis would not be accepted in his class. I was shocked; I thought I’d been doing okay. His challenge for me to do better than I imagined has stayed with me through the years.

In investing as in life, it’s critical to get to the bottom of things and understand what’s really going on. A key comment to a growing mind can go far towards encouraging this crucial trait. Thanks, Mr. Anderson, for helping my foundation to set right.

Douglas R. Tengdin, CFA
Chief Investment Officer
Hit reply if you have any questions—I read them all!

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direct: 603-252-6509
reception: 603-224-1350 • •

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