Investing Requires Humility
By: Brendan Magee
Whether or not you are a fan of the Howard Stern Show Radio Show would have a lot to do with how familiar you are with comedian Artie Lange. He has been amongst the show's cast of characters for about the last 10 years and having been a listener from years gone by I recently picked up and read his book "Too Fat To Fish."
Now at first glance, knowing that Mr. Lange appears on the Stern Show, you you'd think that his book is nothing, but foul mouthed comedy. I can't say that there isn't a few sections that you wouldn't want to read to your kids or mother, but there were also some very interesting life stories that surprised and drew me deeper into the book.
For example, when Mr. Lange turned 18 his father, working as a roofer and t.v antenna repair man, fell of a roof and was permanently paralyzed. He walked around with a painful self-destructive guilt at not being there to hold the latter his father was standing on and prevent the fall. Even though Mr. Lange was experiencing a successful and lucrative career in show business, Mr. Lange has battled life threatening cocaine, alcohol and heroine addictions. Fortunately, he appears to have lived and gotten past his addictions.
Towards the end of the book though and as he has come to grips with his demons, Mr. Lange talks about the catharsis he had in putting his life and career in proper perspective, and it is this revelation that I think investors could learn from. Mr. Lange was ruminating on how his life was teetering from the pressure of producing and starring in a movie, Beer League, his daily Stern Show appearances, and trying to avoid drugs and alcohol that were abundantly available to him that could have meant the death of not only his career, but also his life.
From this time in his life he stated " I couldn't have done it alone, and what I learned most of all is I'm surrounded by people who care about me. I'm lucky that way, and I know not everyone is. I'm the kind of guy who keeps things in, who likes to go it alone, and who doesn't like to ask anyone for help. I like to take care of everything myself, because I think I know best. But this episode in my life changed that pointy of view, because I couldn't bullshit myself anymore. My way wasn't working. I needed help from people in my life. I had to ask for it. And they were there for me. Sometimes your guardian angels aren't just in Heaven. They're all around you if you know where to look."
This is no doubt an expression of humility and if you read the book it took many a destructive life experience to come to this catharsis. Many investors would do well also to have a breakthrough in humility. Let me first say that humility is not failure. Accepting where you need help and asking for it takes courage and wisdom.
So here is your humility test as an investor. Answer the following question, When it comes to building your portfolio, do you know exactly what you are doing and why? If you can answer that question 100% yes, no need to go any further. However, if your answer is any thing less than that swallow your pride, admit your limitations, and ask for the help you need. Avoid the pain and suffering that goes along with not swallowing your pride. Like Mr. Lange, you'll be amazed at how much simpler and enjoyable your life gets. (By the way, I would suggest reading the whole book)
Brendan Magee is the founder and president of Inevitable Wealth Coaching. With questions or comments go to www.cocahgee.com or call 610-446-4322.
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