“The past is gone … the future is not here yet … all we have is this … the present.” – Bill Murray, Broken Flowers
January—the month named for Janus, the god of beginnings—is the start of another trip ‘round the sun. To my way of thinking, the creator of the Roman calendar most likely marked the winter solstice, allowed ten days for celebrating, added one more for sobering up, thereby landing on the day to start the new year. January 1st is when many clear their heads, reflect on the past, consider the future, and then tune in to watch … what? … no bowl games today? Hope we’re not off on the wrong foot for 2023.
Challenges – While other animals live in the moment, humans are challenged with three options. Our thoughts frequently slip and slide between the past, the present, and the future. Although dimensional thinking has its advantages, this ability often makes it difficult to focus on things that matter. In The Odyssey, Homer’s epic poem, Odysseus had his shipmates lash him to the ship’s mast to avoid the temptations of the sirens—lovely young ladies trying to lure the sailors towards the rocky shore and a watery grave. Today’s journey through life presents similar challenges.
The Past – The realm of nostalgia and regrets, gone with the wind, not to be seen again. However, mankind’s previous actions and experiences live on as memories and recorded observations. History provides insights into human psychology and behavior … good things to know, especially for investors. While the news of the day provides updates, wisdom requires a knowledge of the past.
The Present – The dimension in time where, brick by brick, thoughts and experiences accumulate to shape our lives. But much like Homer’s Odyssey, today’s journey through life has its sirens. Consider most of the content on phone screens, computer screens, and television screens—always there, pushing our emotional buttons, luring us into trading valuable time for noise, distractions, and the agendas of others. One might ask—"How has all this screen time shaped my life?” The answer is worth knowing.
The Future – Imagined but never visited, the place where everyone is headed. Building a better future depends on finding and using the best bricks—knowledge from the past and insights from the present—and avoiding the sirens of the day.
“We never know where we’re going, but we ought to know where we are.” – Howard Marks, Oaktree Capital
Happy New Year.
Any opinions are those of James Aldendifer and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. Investing involves risk and you may incur a profit or loss regardless of the strategy selected.
