No one told me there’d be days like these. John Lennon
Sadly, for me anyway, over these last few months, I have had to limit my output for this site. In fact, limit is a rather gross understatement, as I’ve posted absolutely nothing these last 3 months. Now, I do have very good excuse. Quite simply I have been endeavouring to get my health back into some semblance of normality. And alas, as a result of this battle, any creative juices activated by my muse, the financial markets, have been allowed to simmer gently away on the back burner, totally ignored.
But, that was until just recently. As a result of the huge global upheaval we are all experiencing courteously of the Covid-19 pandemic, the world it would seem has been thrust onto a precipice with no real guarantee of which way it will end up.
So right now, everything we once knew literally changed in a matter of weeks. Who would have in their wildest imagination envisaged the extent of economic and social paralysis the world’s population is going through right now. I certainly didn’t that’s for sure.
But I must say, there’s absolutely nothing like the current state of affairs to crystallise ones thoughts. And, the accompanying financial malaise not only has stoked my fires of creativity but has lead to totally invigorated writing desires.
So health issues aside, this is an absolutely unique period of human history, and should provide to even the most cursory of long term investors, an absolute cornucopia of unique experience. The lessons learnt right now will be absolutely invaluable in the years ahead whilst creating success within your portfolio. That’s a guarantee.
For newer investors, who have been been building their portfolio from the embers of the GFC, a calamity of this proportion certainly provides very strong learning for future success. It will be a time when all those ‘hackneyed quotes’ from traders and investors long gone, suddenly ring true and the collective wisdom of their message becomes a guiding light in what will certainly be a very gloomy period for investors.
And for those who have been through the GFC, the Tech bubble, or the crash of ‘87 there will still be much trepidation. A retirement portfolio that suddenly falls dramatically because of such a ‘black swan’ event certainly ranks as one of the more frightening of personal experiences. In what seems like moments, retirement dreams are suddenly stolen to be replaced by an immense wall of worry. But not only of the financial fallout, but by the very perpetrator of the event, a virus that at this point has absolutely no cure.
So having experienced everything a market can throw at a person over the past 30 years, I thought now is the time to draw from that experience and share various thoughts, actions, ideas concepts and strategies that may be of value to those of you determined to get through this mess and be financially stronger on the other side, whenever that will be!
Now that’s certainly not to suggest that any of my musings will actually make a difference and I will certainly not ever be recommending any direct courses of action or specific investments. I view investing as a totally bespoke pursuit designed to enhance a person’s financial and personal welfare. Every one of us is different and as a result there can never be a one size that fits all. It is therefore important for any investor to read widely, consider deeply and then plan accordingly for their individual circumstances. Investing success comes from ‘standing on as many shoulders’ as we can and synthesising this vast reservoir of knowledge into what is useful to us.
So during this time of incredible stress within investment markets, what I hope to offer is a voice of experience. Having been a participant of the advice industry for such a long time I have firsthand experience with guiding clients through both major market calamities and the many smaller shock waves common within the investment world. Therefore I not only know what it feels like to lose my own money, I most certainly know what it feels like for someone else, to lose money.
Hopefully some of what I write will be of help
Firstly, for those reading the Investor Tuition site for the first time and no doubt there are plenty of you, my primary aim has always been to produce evergreen content. That is, posts that no matter when they were written, wouldn’t date in content or purpose, and could always be relied on to remain accurate. Now feel free of course to review past posts at any time, but I will certainly reference and provide a link in future posts when appropriate.
Secondly, my output should be consistent and regular, but as I mentioned earlier my health remains an issue and may at times preclude me from adding any thoughts. But I envisage adding at least one post a week and but have no other limits.
I will be drawing on my experiences for this ‘series’ and as a result there will probably be no rhyme or reason to the subject matter. One post won’t build on another and I will be just throwing it all out there, so to speak.
Finally, this will certainly be quite a journey for all investors. Remember there will always be many general similarities between these types of market events, but all of them have their own unique attributes that sets them apart from one another. And most certainly this time is no different. But a pandemic is new to us all and provides a pretty frightening backdrop. The human cost is staggering and should never be overlooked or ignored.
So for those who want some company on their journey through this mess, welcome aboard and enjoy the ride!
If you’re still in the reading mood I have added a couple of links to posts that I have recently published on a site called Quora. It is a Q & A site that I have over the years answered questions on. Here are a few recent examples.