9 Minute Read

Tackle Today: What Game Are You Playing?

March 17, 2021

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Stay in your lane and tune out the noise.


I’ve been plowing through Morgan Housel’s recent book, The Psychology of Money. It’s a veritable treasure trove of thought-provoking insights. One that spoke to me was the concept of identifying the exact game you are playing. What’s your time horizon and style of investing? What information is relevant to that particular game? And what information isn’t?

 Here is how he articulated his approach:

“I’m a passive investor optimistic in the world’s ability to generate real economic growth and I’m confident that over the next 30 years that growth will accrue to my investments.”

Then, he stated, “…once you write that mission statement down you realize everything that’s unrelated to it – what the market did this year, or whether we’ll have a recession next year – is part of a game I’m not playing. So, I don’t pay attention to it, and am in no danger of being persuaded by it.”

This is exactly how I feel about my long-term investments. I don’t care one bit about what the market does day-to-day, week-to-week, or even year-to-year. The capital I’m investing is based on retirement goals and long run trends.

Over a time-frame of that length, daily downtrends, market corrections, and even cyclical bears are as common as dirt.

More importantly, they are all temporary.


Chart of the Day

The Long Run

The S&P 500 closed at $166 in October 1984. In the 36 years since my birth year, it has risen nearly 23-fold to $3,939. Getting exposure to this growth is essential to achieve my retirement goals.

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