With spring comes my annual strategy session with my personal financial advisor and sometime hotelier, Caroline. As a senior dog well-versed in the intricacies of investing, I’ve been trying to impart some of my seasoned understanding to Caroline’s Schatzi, so I encouraged the young Schatz to tag along with Caroline that morning and attend my session. Mike and Heather were allowed to come, too, but just for backup and in case I needed to take notes.
While Caroline and her associate Rory discussed my investment positions and streamed impressive graphs and tables onto a large TV on the wall, Schatzi and I tussled, sniffed each other’s butts and eventually retired to opposite ends of the conference table for a well-earned nap. And why not? Obviously, no snacks would be falling on the floor during this session. I’ll have to remember to return for the next open house with catered hors d’oeuvres.
When everyone finally got up to leave, Caroline transferred her computer to the floor, so Schatzi and I could take a closer look at the changes and projections for my portfolio in the short- and long-term. Fortunately, I find this financial stuff easier to understand than the NFL salary cap.
It was a productive meeting. Everything Caroline went over reinforced the analysis I had previously imparted to Schatzi: Don’t worry, stay the course. I certainly realize no one is immune from rampant inflation. Believe me, when every visit to the vet costs more than it used to, and a box of Vita Bones at Fred Meyer zooms from $2.39 to $4.29, I hear about it!
I resist panicking, however. I advised Schatzi to adhere to one of Warren Buffett’s favorite theories: “Be fearful when others are greedy and greedy when others are fearful.” Schatzi seemed to grasp the concept.