Quiet heroes
Too often, we seem to confuse heroism with heroics, significance with pomp and flash.
Too often, we seem to confuse heroism with heroics, significance with pomp and flash.
In the spirit of the holidays, let’s put aside the overwhelming barrage of negative short-term economic and geopolitical news we’ve been faced with recently – which is often one of the most challenging aspects of long term investing – and instead, focus on a long term positive investment trend as we look towards 2015.
In investing, it is also alluring to dive right in and try a stock picking approach that seems to work well for others.
I recently had a discussion with a client that had just returned from a European vacation. He shared stories about the interesting food, culture, and architecture. But he also offered a warning… “The economy in Europe is dead.”
The restaurant industry is tough. Virtually anyone with decent cooking skills and a modest amount of capital can open one; the barriers to entry are quite low. Restaurateurs must also face an unpredictable customer base, as well as significant competition and substitutes.