Philly Eagles & Investors Need To Protect Their Blind Side

Blind Side Hits Do The Most Damage

                                                             by: Brendan Magee

 

 

Seeming  as how the professional baseball season is, but for all purposes, done in Philadelphia, I paid a little more attention to the Eagles' offseason practices. I wanted to hear how the daft choices looked, I wanted to hear about the drama surrounding Desean Jackson's release, and I wanted to see if Chip Kelley looked like he really had the team headed in the right direction.

 

For over a week, I watched the interviews of Nick Foles, the starting quarterback, and Lesean Mc Coy, the starting running back. Most fans and insiders seem to believe that the team's fate for the upcoming season rests primarily in their hands. There was one player not interviewed that I do not know most fans would say the team's fate lies with,  and that is their starting left offensive tackle, Jason Peters.

The fans might not realize it, but the Eagles and Nick Foles understand full well his value to the team. This is backed up by the four year $41 million dollar contract that includes a $5 million dollar signing bonus they gave to Peters 

 

See most fans see the quarterback as the most important player. They are usually the highest paid player on the team and associated the most with the team's success or failure. A team has a lot riding on and invested in their starting quarterback. What fan's fail to realize is that the left tackle's primary job is protecting the quarterback's blind side. What a right handed quarterback, looking down field to pass the ball can't see, is the defensive tackle or linebacker coming from his left side who is ready to break him in little pieces. Their job is to pound the daylights out of the quarterback.

Most teams realize that if their starting quarterback gets hurt for an extended period of time, their season is for all intensive purposes over. The defenders the quarterback can see can be avoided or they can throw the ball away to avoid the hit. Blind side hits give the quarterback no way to get out of the way and live to play another day. Hence, the most important player on the team is arguably  Jason Peter, given how vital he is to the team's success.

 

Another thing to realize is that teams have eyes every where. They have coaches on the sidelines, up in the coach's box in the top of the stadium, etc. They realize, what they can't see is going to do the most damage. Unfortunately, this same respect for the blind side is not often enough shared by investors, and the problems they cannot see are the ones that do the most damage. They in just about every case cause damage  that is irreversible.

 

They spend an awful lot time going over pie charts that represent their portfolio's holdings, they spend a lot of time and are given a lot of opinions on where the market is going to go next, or looking for the next brilliant money manager. There is no attention paid to the blind side. Their is no attention paid to being able to spot the next Bernie Madoff, no attention paid to making sure they understand the difference between gambling and speculation vs. prudent investing, nor is their any attention paid to making sure out of control emotions or biases don't have them making decisions that ultimately sabotage their financial security.

 

So why is there no attention paid to an investor's blind side? The answer is pretty simple. If the Giants can hide where their blitz is coming from they can cream the Eagle's quarterback which would make it easier for them to ultimately win the championship and their players can get big fat profitable new contracts. If an investor can't see a scam coming, or spot investment advice that will make the brokers rich at their expense, the brokers win, not the investor.

 

So how do you begin to become aware of your investing blind spots and undo the damage being done? You do it with the right questions. You need to ask very specific questions and work with someone who will work with you until you see the answer clear as a bell. This does not get accomplished with the sale of an investment product. It gets done through coaching, much like the coaching the Eagles players get from their coaching staff.

 

How does the market work? Where do an investor's returns really come from reveals a misconception and all the misguided actions that go along with this blind spot. Can you calculate all the costs you are being charged to have your portfolio managed? Will reveal a blind spot that has you paying good money for a service that has no value and plug that leak in  your portfolio. These are just a few of the questions that we will call Your Investing Blind Spot Checklist.

 

Lastly, here's what you should know about a blind spot. You will come face to face with your blind spot, find out how much damage it's doing to you, eliminate it and grow stronger as a result of being more aware, or someone will use it unmercifully to further their financial well being at your expense.  

 

Brendan Magee is the president and founder of Inevitable Wealth Coaching. With questions or comments call 610-446-4322 or e-mail Brendan@coachgee.com.