We have been moving to an aprtment and time and enerrgy have been short. Priorities I suppose. In any case, I found this article to be too useful to not pass on.
Over the years there have eben many “one decision” stocks or markets. The one decision was just invest, you will never need to sell. Like IBM in the 60s.
The underlying flaw in the one decision scenario is all decisions are contextual. While a perfect decision is possible in a given context, there is no warranty that promises the context will remain the same. When context changes, old decisions become obsolete and conceivably the wrost possible. All decisions should come with a time to revisit. Like a sunset law.
Change always happens. Worse yet, change changes. Previously unimportant factors become paramount. People change their attitude. Become uncaring, impatient, or super-involved. Every geneeration has a somewhat different ethos than their predecessors.
The current stock market is not relying on the same variables as it did even a few years ago. You cannot apply old to new and expect the same answer. Recall John Paul Getty’s admonition, ” In times of great change, experience will be your worst enemey.”
I think we can assess the current conditions as being in the “great change category”
Never make a decision that cannot be undone to better meet new and fundamentally different conditions. Cosmetics don’t matter, but substance does.
I think you will see the point in the article. Will Facebook, Apple, Netflix, Goodle, Amazon and Microsoft be dominant in 2070? Probably not. No Dow Jones Industrial Index original stock is still in the index. Times change. Adaptive people do better than those who hold to the old as forever.
The principle applies to more than investment. Give it some thought. What old decisions hsould be revisited and possibly reinvented?
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