One minute you’re climbing up Odell’s Gully in hurricane force winds into blinding snow. The next, you’re lost.
When you get to the top of Odell’s, it’s hard to stand as the wind blows you over, but the summit of Mt. Washington is on your mind. You want it. And you go for it.
Which is where two young climbers found themselves in the early winter of 1982. A decision to push on that would change their lives and scores of others forever. Such is the story of The Lions of Winter by Ty Gagne.
Deciding to turn around is not an easy decision. It’s an admission of defeat, however minor it may be. Often in life, we just know our destination is around the next corner.
Investors put faith in certain stocks the same way. They believe the future is bright, and they don’t sell until it’s too late. Buying is easy. Pushing on is an instinct. Giving up is not.
If there are mountains to climb, we climb them. It’s why when you ask rescuers why they do what they do, it’s because they understand the pull, and they, too, may have pushed the limits too far once or twice.
If there are markets, there will be participants. But participating in markets doesn’t make one an investor. There are certain protocols that an investor takes to create a margin of safety and not simply speculate on one’s feelings. It is why there are guides who help the uninitiated navigate the unknown. Not that experts know everything. They don’t. Being able to say that comes from experience.
Life lessons aren’t always taught the easy way. But either way, they are taught. When something is lost—a life or a dollar—it’s lost forever. There is no redo. When a dollar is gone, it is gone. You don’t get that dollar back. You can only try to get back what you once had using other dollars.
Action Line: Not losing money. Turning around. These are not intuitive actions. They can be necessary decisions to keep what you have and live for another day. Email me at ejsmith@yoursurvivalguy.com when you want to talk about your plan for the future. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.
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