sustainable business

Playing the Long Game

© Can Stock Photo / JamieWilson

The more we think about it, the more striking it is. We are talking about the connections between major decisions and strategies in other parts of life, and effective investing.

Lengthening your time horizon enables you to look past normal market ups and downs, and perhaps enjoy long term gains. On the other hand, a short-term focus leaves people with a choice of potentially safer but stagnant accounts, or day-trading. Our experience leads us to believe that playing the long game pays. No guarantees, of course.

Likewise, thinking about where you want to be seven or fourteen or twenty-one years from now gives you a framework that shapes the choices you make day to day. You may be more likely to make progress toward your major goals in life. Not playing the long game may hurt your chances.

Many have had the experience of enjoying some product or service that seemed to be priced at unbelievable bargain levels. When we were young, a wonderful barbecue ribs place opened up nearby. Great food, all you could eat, an unbelievable price. There was nothing else like it. Customers flocked to it—we went back again and again.

For a few months, that is. Until it closed without notice or warning. The proprietor had not been thinking about the long game. He knew it was important to deliver a great experience to large numbers of customers. But he wasn’t paying attention to the need to cover his overhead and make a decent return. A dining room full of happy customers, the short term indicator, was not enough.

As customers, we would have been better off to pay sustainable prices to keep the restauranteur in business. His place might have become one of those beloved institutions that last generations. Instead, we got bargains on good food for a few months—then it was over.

In our business, we often counsel people about investments or insurance they originally purchased from an agent or advisor prior to becoming our client. Often some level of confusion or frustration has crept into their understanding of what they have. We are always happy help clear things up.

But this is an object lesson to us about the importance of being there for you. We are always thinking about the long game for our enterprise, too. Clients, if you would like to talk about this or anything else, please email us or call.


The opinions voiced in this material are for general information only and are 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.

Enduring Value

© Can Stock Photo / EpicStockMedia

We think a lot about how to make things last. It is a key concept for your assets, our relationships, and the securities in which we invest.

But our enterprise here at 228 Main has to endure so we may continue to be of service. We therefore work diligently on its sustainability.

Thinker Morgan Housel wrote about the sources of sustainability in business. Relative to the competition, these attributes provide an enduring competitive advantage:

1. Learn faster.

2. Empathize more with your customers.

3. Communicate more effectively.

4. Be more patient.

These things resonated with us because they represent much of what we strive for. Patience is a prerequisite of successful investing. It is free, but not easy to practice. It also is what lets us be content to work with you at your pace, on your schedule, since we are talking about your money.

You know by now how highly we value effective communication! Listening to you and talking to you in various ways is one of our three core activities. We put a lot of effort into it.

Empathy—understanding what you are going through, where you want to go—is perhaps the key to being able to meet your needs.

We are surprised at how much we are still learning after so many years of experience. In this rapidly changing world, continuous learning is required in order to be able to survive and thrive.

Clients, we are not claiming perfection in any of this. But we are mindful of the things we must do in order to be a reliable partner for you through the years. If you would like to talk about this or anything else, please email us or call.