All the world will be looking at Beijing today; but what they should be watching is the athletes.
With all the news about the politics, pollution, and public relations associated the Beijing Olympics, what seems to have been lost is the years and years of preparation that thousands of athletes have undertaken. I’m getting pretty sick of the phrase, “coming out party.” I thought the Olympics were about the competition.
But what we can learn from these athletes is significant. Character qualities of determination, perseverance, and poise under pressure are directly applicable to the investing world. And that’s lesson #3: successful investing is about you—your goals and the discipline to reach those goals. Just as an Olympic athlete must train even in adverse conditions, the successful investor needs to stick to his disciplines, even when times get tough.
Because (with apologies to Vince Lombardi) those are the times when our investments can really get going.
Douglas R. Tengdin, CFA
Chief Investment Officer
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