Thoughts this Thursday...where are yours?

Well, in my world the sun came up again, I hope it did in yours as well. The way we live our lives does make a difference. We should never believe that our words and actions are without consequences. The surest way in life to feel bad is to let what was supposed to be ruin our experience of what is. Make the most of the present moment. What is, is. What’s next?

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What do you think?

• When choosing an investment manager, philosophical alignment is crucial – perhaps even more important than raw performance numbers. You need to relate to their investment philosophy to stick with them through market ups and downs.
• The best-performing fund doesn’t always translate to the best investor returns. Case in point: CGM Focus Fund’s impressive 18% annual gain, while its average investor lost 11% annually due to poor timing decisions.
• Selecting an investment manager should be a thorough process, akin to finding a life partner rather than a casual hookup. It demands time, careful consideration, and mutual evaluation.
• At IMA, we screen potential clients for philosophical alignment, long-term perspective, willingness to do homework, and personal qualities like kindness and respect. This ensures a good fit between manager and client.
• As a client, you should look for an investment manager who has both skin and soul in the game – someone who’s not just financially invested, but also philosophically and emotionally committed to your shared approach.

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Our kids need patience, because they’re figuring this world out, just like you did once. They need balance, so they can see that life isn’t all highs and lows, but something in between. They need kindness, because that’s how they’ll learn to be kind in return. And they need you to be fine—not perfect, not a superhero—just fine, because that’s more than enough.

?Don't curse the obstacle; find a way around it.

Elite special forces don't complain about defenses—they adapt their tactics or create new ones. When a primary route is compromised, they don't waste time lamenting. They quickly shift to another approach. Elite athletes don't complain about defenses—they find the gap or create one.

Face the obstacle. Find the gap. Or make one.

??????????????????????? ????????????????????Farnam Street

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The U.S. Treasury collects about 18% of GDP in taxes. Doesn’t matter who is in the White House. In a system driven by Central Banks (the FED), GDP must grow. If it does not, it’s game over. My guess…won’t happen. We’ve talked about making sure we are playing the same game when working with clients to make our best effort to achieve their goals. Here’s the game we are all in… earn, pay taxes, and speculate. The Fed wants us to be successful investors. We win, they win.

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What successful investors know is, the more you learn, the easier it gets.

Have a good week…

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