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 talk about expectations and what’s good enough.
I was watching the documentary about Madoff’s $50 billion fraud back in 2009, which happened over 30 to 40 years— and thought to myself, “Man, there are so many lessons about people’s envy, and greed, and needing to be right at every moment, and to walk on water, and to create this guru status, or to be able to do something exceptional.”
Well, in finance, you don’t have to do anything super exceptional. You could do things kind of boring and own the market averages. You could own the collective conscience of everyone’s knowledge.
Now, it’s a roller coaster. You’re going to live with highs, you’re going to live with lows, you’re going to live with excitement and disappointment. But capitalizing over 20, 30, 40, 50 years of your life, of the collective conscience of capitalism in the United States and around the world, owning profitable businesses that are striving to do better and to provide goods and services for people in life is very, very fruitful. It’s not sexy, it’s boring, but it works.
So, stop seeking gurus. Stop seeking anybody that’s going to have to walk on water. Be OK with enough. Don’t have envy of other people, and just do your thing, on your path to Wisdom, Wealth, and Wellness.
It’s a reminder for all of us.
Have a great day.