Conventional wisdom rarely leads us to greatness or even success. Yet we continue to take the same well traveled paths, even when we see that there may be a better way. This week the world lost someone who epitomized the quest for a better way of doing things. The wisdom and tenacity of Steve Jobs has inspired me to do things that flew in the face of tradition. The technology he created, despite having a huge influence on the way I have made a living since 1985, is secondary to the lessons he taught me about business and life. If we want to be successful, we must always question “conventional wisdom.” What does this have to do with investing? Everything! Conventional investing wisdom says that we should be all in the market or all out. Conventional investing wisdom tells us that only “experts” know the future. Conventional investing wisdom leads us to consistently spend more and make less. Conventional investing wisdom idolizes stock pickers and market timers. In other words, conventional investing wisdom make your broker (or banker or insurance agent or...) richer and you poorer and Wall Street loves it.
Over my 25+ years in this business (which strangely coincides with my first Apple purchase), I have constantly tried to “think different” and look at investing from new directions, despite the constant brainwashing flowing from Wall Street and their willing minions in the money media. Following the facts and ignoring the hype has inevitably led me to an investing philosophy that just makes sense (much like Apple’s various operating systems). It’s an investing philosophy that is user (investor) centric, based on decades of careful study and academic research by some of the brightest minds on the planet, It is a investing method that is regularly honed, improved, and updated. In other words (and not mine), “it just works.”
Listen carefully to almost every other financial program on the air and you will find that the messages are almost all the same... Investing is synonymous with speculating, gambling. Rarely will you hear anyone sharing the investor-centric view that we impart every week on this program. Just as your mother likely admonished at one time or another, “Just because everyone else is doing it, doesn’t mean you should.”
This may be the Steve Jobs greatest legacy. To be successful in life, business, and investing, we all need to “think different.”
Finally, on a more personal note. Despite the fact that I have spent a small fortune on Apple products (starting with a Macintosh 512k in 1985), I feel I still owe tremedous gratitude to Steve Jobs, both for the powerful produsts he created to improve my productivity and product quality and the lessons he taught me about life and business. Steve - although I never knew you, I will truly miss you. Thanks iLot!