This week our boys were out of school for spring break, so we took advantage of their time off and went down to Bryce Canyon in Southern Utah for a quick day trip. It has been a long time since I have been there and I was blown away at the beauty of the rock formations. It was surreal to look out over that canyon! Before going into the canyon we stopped at the Visitor's Center of the park and watched a great 1978 version of how the hoodoo rocks are formed. It was incredible to learn how long it takes for the formations to develop, but seeing the fruits of such a long term process are very inspiring. It would be impossible for an observer to see any perceptible changes to the rocks at all over time without the use of time lapse photography. There is never a definitive moment where the changes that take place could be distinguished. In short, the beauty doesn't just happen, it takes time.
This week has been a crazy one in the equity markets. There were some days of large gains and then today it was capped off with a fairly decent drop. So what does Bryce Canyon have to do with successful investing? It shows us the need for patience. Paul Samuelson once said, "Investing should be more like watching paint dry or watching grass grow. (or for our conversation watching hoodoo rocks form) If you want excitement, take $800 and go to Las Vegas." Investing isn't gambling on the short-term outcome of the market. That is speculating. Successful investing requires planning and patience. However, the gains that you see over time are indeed exciting and can be inspiring to view, but it does takes patience. Thank you for the opportunity to work with you in this process and if I can be of help in reviewing your plan please let me know. Have a great weekend!