With the tenuous return of baseball this year, we’re thinking about what fandom means for the investing world.
One thing that strikes us is the redundancy of a phrase like “long-term investing.” Investing is already aimed at the long haul, right? You’ve heard it from us before: “Own the orchard for the fruit crop.” We have been explicit that our investment strategies are based on long time horizons.
But we dove a little deeper and came out with an even richer appreciation for this approach.
Turns out the most common notion of “investing”—using what we have to generate income or profit—is a fairly modern one. The phrase popped up in the 17th century and gained traction by the 19th, per the Oxford English Dictionary.
But a few hundred years before that? It was more literal. “Investing” was closer to its Latin root vestire: to dress or clothe, often in symbolic garments.
Even today, when the crowds aren’t allowed in their favorite stadiums, the word “investing” still has us imagining a sea of sports fans, adorned in those special garments of their favorite team. A sea of investors.
They dress in their team’s colors, and win or lose, by golly they’ll put them on next weekend too.
They’re fans for the long haul; they’re invested.
Like a fervent fan, the phrase “long-term investing” is cheering pretty loudly for a proposition we’re already on board with. It doesn’t mean we can’t be disappointed in our investments, nor does it mean the lineup will never change.
But when we buy in, when we wear the clothes of, this is no fair-weather enterprise; we’re here for the long term. Clients, if you’d like to discuss this or anything else, please write or call.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.
All investing involves risk including loss of principal. No strategy assures success or protects against loss.