I am frequently asked “who are your biggest competitors”? It is a good question and I appreciate it. The answer is usually unexpected and received with surprising curiosity. Our greatest competitors are not other competing banks and brokerages, but rather human procrastination. In my opinion, this behavioral mistake has reached epidemic proportions.
I am frequently asked “who are your biggest competitors”? It is a good question and I appreciate it. The answer is usually unexpected and received with surprising curiosity. Our greatest competitors are not other competing banks and brokerages, but rather human procrastination. In my opinion, this behavioral mistake has reached epidemic proportions. Maybe you have heard the sage advice if you find yourself in a hole, stop digging. Procrastination is a hole. Although, this might seem simple, it is prevalent among investors who are overwhelmed with options, information and an industry that is changing dramatically.
I received a letter from a client recently that reminded me of a quote from the great Albert Einstein. Einstein said “everything should be made as simple as possible…but not simpler.” The client was appreciative for the successful outcomes over the last decade that involved basic and simple fundamentals. I read this note of gratitude just behind an article in the Wall Street Journal reporting on the lackluster investment results of large prominent Ivy League endowments such as Harvard and Yale.
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