Apr

4

What happens when you start feeling a little bit defeated with yourself and in particular in the markets?

What do you all do when you're having a bad day or having a bad few days? Or not even bad, just off.

I'm sure most of you as portfolio managers, traders or the like must in someway allow your results to affect your being? I mean this in the way that Ayn Rand wrote about, how her male characters (especially Hank Rearden) were so committed and dedicated to their path and purpose that that was their sense of self worth.

It's a roller-coaster of emotions. Do you stay on for the whole ride and man up — or get off some times?

Ed Stewart writes: 

Stuff that gets your blood pumping is often best. I used to like sea kayaking (still do but not near the ocean anymore).

Overcoming some physical danger plus exercise makes for a great way to get a fresh perspective and recharge batteries. One thing I used to like to do after a rough day/night/week would be to take the kayak out and do something particularly challenging — on the edge or outer limit of my comfort level, or beyond it enough that the sense of mortality, where every decision and maneuver matters, is exhilarating.

I am not a big fan of intentionally tying ones self-worth to something as fickle as trading or considering such an attitude a virtue. To some degree it "just happens" regardless of what you do, but it can help to check that impulse. Teach a kid something new or help someone else see opportunity or solve a problem in a new light, and it refreshes your memory about all the ways you can create value and enjoy life — while you have it.


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