Good morning, good afternoon, good evening, depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management and on today’s episode of “Seeking Wisdom, Wealth, and Wellness,” I want to blend a little bit of my passion for Michigan sports with the resilience investors need to be able to overcome the ups and downs and the volatility in markets, to be able to plan for multi-generational lifetimes.
The Michigan mantra is, “Those that stay will be champions.” Well, Michigan has had a 20-year drought of falling from being an elite football program to finally getting back to the level of championship caliber football—not quite champions, but getting close to being the leaders and best.
“Those who stay will be champions,” reminds me of the resilience needed to be able to deal with very long periods of time of suffering. As a Michigan football fan, it’s been a very long period of suffering. Well, in the financial markets there are periods of time that you have to suffer. Of course it would be great to be Alabama and win all the time—of course they lost, they do lose at times—but it would be great to be perfect, but most of everybody and everything is not perfect. If you want to research something in financial markets about the pursuit of perfection, you can look up the book, “When Genius Failed.”
Perfect. Perfect. Perfect. Perfect. Perfect. Collapse.
So don’t seek perfection. Find a process that will enable you to sustain yourself for multiple generations and remember, “Those who stay will be champions.”
Have a great day.