Wednesday, May 7, 1997
Let's Hear It For
Self Investing
By
[email protected]
As a recent convert to the ways of Folly, let me relate a personal story. A few months back I decided to switch jobs. $1,000 in new suits later, I was ready for my new career. The only trouble was, I quickly hated my new employers. A timely stroke of good luck landed me in another job quickly, one where the dress code was more casual.
Am I upset that a new olive-colored suit now hangs unworn in my closet? Not a bit. It serves as a daily reminder that my self-education comes at a price. Just as we routinely value stocks and issue the occasional buy/sell order, we must also be willing to place buys and sells on our own life experiences. The phrase "nothing ventured, nothing gained" applies as much to our personalities as to our portfolios. Playing it safe is good 90% of the time, but the other 10% calls for taking occasional, well-thought-out chances.
This bit of perspective quickly helped me heal my wounds and my bank account. After all, in the words of Felix Unger, the worst thing is to go through life thinking "I shoulda." Taking occasional risks is what keeps life interesting. Having the financial means and personal perspective to recover when things turn sour is the mark of someone who will be around to play the game another day. Long-term thinking: I like it!
The moral of my story is that while we certainly can benefit from investing our dollars Foolishly, let us not forget to look closer to home and invest regularly in ourselves.
-- Douglas Burke
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