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She looked up and said, “when we started this session I was sure you were going to help me become a better investor. But that was not your plan at all; was it?” I shook my head. “You wanted me to revisit my decision to become an investor in the first place.”
“That’s right”, I responded. “You spent a whole lot more time making the ‘chief of everything’ and ‘chief executive officer’ decisions. You fell into the investor role because you were approached by somebody who had an idea for a business and knew you had money. If you are going to be an investor, learn what it takes to be a good one. Then decide if you want to do what it takes. But don’t predetermine your course before you have taken the lay of the land. You may not like what you need to become to be a successful investor. Sure, you’re stuck with funds in this one company, but that does not commit you to years doing something you may not like.”
At the end of the session we agreed on two paths forward. I would help her turn around the company she had invested in and we would address the “to be or not to be” question before she made a second investment.
Next Time – If I am, what I don’t want to become
© Dr. Earl R. Smith II
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The Money Chase: What Does Investment Grade Mean? Part 3
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The Money Chase: What Does Investment Grade Mean? Part 4
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The Money Chase: What Does Investment Grade Mean? Part 5
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The Money Chase: What Does Investment Grade Mean? Part 6
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The Money Chase: What Does Investment Grade Mean? Part 7
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