Prologue from Nick...

 

This issue is essentially devoted to turning the current moment of total chaos (economic, financial, political and geopolitical) to the advisor’s advantage. We can do that, I believe, by demonstrating to our clients that there’s no way to create rational investment policy from current events. This is always true. But we rarely get a chance to showcase that truth in a near-perfect laboratory of confusion such as today’s.

.

We mustn’t waste this crisis. Instead, let’s use it opportunistically to drive a stake through the heart of the fatal illusion that investors can – or even should – alter their long-term investment policy because of “crisis.” That way lies lifetime investment failure.

.

We Behavioral Investment Counselors are getting a golden opportunity to drive home aggressively the eternal truths – planning, long-term focus, quality, and what I call “the humility that is diversification.” Use it well, dear friends.

Below are four "memes" I created from this newsletter. You should be doing the same. You don't need to create pretty graphics, but you should be notation great quotes (like in a spreadsheet) and sharing them with your clients.

―Michael