Tuesday, August 6, 1996

Shoes, Golf, and Investing (Part One)
by MJPolton

Shoes. That's the key. I'll explain later.

I finally got to practice a few days after Easter. My first attempt of the year was a line drive over the shortstop's head. He jumped but he never had a chance. Too bad I was practicing golf, not baseball. But hey, after that, everything went straight. EVERYTHING. Even my misses went straight. The worst I did was the fringe, the fringe! (That's just slightly off target for you non-golfers.) I've never hit so many practice greens in my life. With every club in the bag. Ok, I pull hooked two 3-irons, but for the first session of the year? I'll take it.

More importantly, do you know what this means? I've actually hit a golf ball! I've actually stepped on grass! (Remember, those of us in the Northeast, who got snow on Easter , were wondering if we'd ever see spring.) It means I found and swung my clubs and actually hit some golf balls. Since I only have three weeks until I go on a three-day golf trip, I thought I'd better practice. But after this winter, I was beginning to wonder if it would ever get and stay warm enough for me to get out.

But seriously, dead straight. Darn near every shot. This game is a piece of cake. Yes, I'm sure I'll find myself wondering what happened the next time I get a triple-bogey 7, what ever made me think this game was easy, and why I play. But for now, just let me live with my delusion and enjoy it.

But how did I do so well? The shoes! It must be my new golf shoes. A nice firm foundation. I don't need new clubs; I just needed new shoes. After I hit the two pull hooks, I just clicked the heels together (hey, it worked for Dorothy) and the magic came back!

Ok, so what does this have to do with investing? Well, they said the Fribbles could be about anything and I was so inspired after having a great practice session in 65 degree weather ... But there are a few lessons here:

1) Shoes (a firm foundation) for investing -- what else? -- Beating the Dow (need I remind you again?).

2) Practice. Everything takes practice. Even investing. To learn how to value companies, find what methods work for you and experience ups, downs, fantastic runs, stomach clenching drops, and everything in between.

3) Golf. Or baseball, or going out to dinner or playing with your kids. Investing is only one part of life (something I've had to remember after reading so many posts on the message boards). The point is to remember to HAVE a life.

[The Editor has always felt there was nothing wrong with his own golf game that $2,000 worth of equipment couldn't fix.]

Transmitted: 8/6/96