Jean-Marie | Wisdom, Wealth, and Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

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 this episode of “Seeking Wisdom, Wealth, and Wellness,” I want to talk about Jean-Marie Eveillard, someone of great wisdom, whose notes I happened to stumble upon 10 years ago in 2012.

What’s interesting is that he described his view of Wall Street as being, “a vast promotion machine” or “a den of thieves,” and that struck me very heavily because I was feeling that, but I never heard anyone articulate it quite this way. Because I started in the business of trying to help people with money in 1993, I was close to 20 years into the business and was disgusted by many of the people that I was surrounded by. But I didn’t want to hold on to anger—I wanted to hold on to hope.

So, Eveillard had formulated a couple of central themes for long-term success.

1. Humility.
Remember the future is always uncertain.

2. Caution.
Prepare for good and bad times. Remember to always have a cushion and remember the importance of having a margin of safety.

3. Order.
Sometimes mistakes are going to be made, so you have be mindful about starting and ending with your balance sheet and having an understanding of the value of good security, good business, good process and continual improvement.

And then lastly, to spend half your time thinking and reading.

Now back in the day, 10 out of 10 value investors did extraordinarily well, but most people don’t do it because it requires an immense amount of patience. It also is such a situation that stepping back and being out of sync with people for a long stretch of time is extraordinarily emotionally difficult. So, I share this wisdom with you as we try to use some of these principles over the decades to come, to be able to help people for multiple generations to seek their own Wisdom, Wealth, and Wellness through humility, caution, and order.

Have a great day.

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Video Recorded April 18, 2022
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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