I am trying to get better at honestly recognising the advantages and disadvantages of every position rather than arguing for my preference. One of my favourite books is “The Earthsea Quartet” by Ursula Le Guin. The story revolves around the hero (unknowingly) wrestling with his shadow. Magic lies in discovering true names, and seeing the essence allows change. Like the concept of Wu Wei (action through inaction). Everything changes through acceptance of the starting point. I am a fundamental investor. Meaning I think the best way to make money is by solving real problems. This means I have a preference for being “Fully Invested” rather than trying to be clever and buy in and out because other people are wrong, “Time in the market, not timing the market”. The lesson of 2020 is you need to build in the ability to not do anything. You need to have endurance to afford to get out of bed, even if the world loses its health and mind. “Fully Invested” requires space. Action requires inaction. Garr Reynolds of PresentationZen.com talks of “Hari Hachi Bu”, the concept of eating till you are 80% full. Don’t fight stillness. Don’t fight shadows. Activity isn’t creativity.
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