Greener Grass

The tyranny of choice is that having lots of options can make life frightening. We spend so much energy thinking about what could have been. Greener grass and bitterness at the hand we have been dealt, when some of those options were never real options (because life isn’t fair) and others were choices we made (which have consequences). 

We live one life. Decisive indecision can leave you constantly spinning. There is always an escape hatch when life gets hard, but if you aren’t prepared to do the hard work then it is impossible to commit. There are always other options. Progress often requires closing things down. 

Real value is built over the long term and so you can’t be constantly starting again. Detachment, importantly, is not a lack of commitment. You can build within boundaries without being defined by those boundaries. Be prepared to do the work. Be able to face hard truths. 

It is easy to get wound up in self-pity and frustrated at the way things work. Your frustration can be 100% valid and yet not helpful. Righteous indignation about the cards you have been dealt seldom changes your cards. Is anyone else going to do anything else to change things, or is it going to have to be you? From where you are. 

Accept the way things are, but not in an accepting way. It is the only possible starting point for understanding, so you can change the setup for who comes next, or with grit... for yourself.

Handle the Truth

Senior Management often bemoan the lack of useful information in references and exit interviews. The tendency is for most letters of reference to reduce to confirming the dates someone worked there. For fear of litigation. Other obstacles to honesty are that people don’t want to impede the chances of being hired. Which includes the next job. If you leave a job because you are unhappy, being honest about the reasons can burn bridges when looking for a fresh start. Particularly if the honesty affects the quality of reference being received. Money is made in containers. Meritocracy with the caveat of loyalty and natural self-interest. Protecting the container, and the individual’s space in that container, comes first. In an ideal world you could let it all hang out. Honest reflection on toxic behaviours, structural cultural obstacles, and areas for personal and corporate development. In reality, honesty only comes when there is an existing commitment to each other. An interest in each other’s futures and willingness to do the work. Honesty is built on a shared ownership of the future. Don’t moan about not receiving the truth, if you can’t handle the truth.

Part Owner

If you love chocolate, and eat too much, it is easier to not have chocolate in the house. The danger as an investor in the Stock Market is that you can always sell. The price is a quote of what someone will pay you if you do. It’s the chocolate. It is not what the ownership is worth. As a Fundamental Investor, you are a Part Owner. Viewing yourself as an owner, who believes in the product, believes in the management, and believes in the business, changes the way you think about the dips in price. Unless something fundamental has changed, ownership gives you a vested interest in the venture and stakeholders surviving and thriving. Even if something has changed, if a genuine problem is being solved and the business has the capacity to continue solving it, you remain an owner in something of value. It makes bumps and dips part of the texture of life. Perhaps the biggest part of being an investor is self-awareness. Self-analysis. Self-correction. Even though your behaviour and the business are separate. If you have a fundamental belief in what it is you are building, it is easier to see through immediate noise. To keep your head even when instant gratification is always available.