Emily and I have been to New York City twice over the past 10 years of marriage. Most recently, we spent New Years Eve in the Big Apple. No – we did not watch the ball drop in Time Square. We thought we were smarter than the average tourist so we attempted to watch fireworks at midnight on the Brooklyn Bridge. For some reason, we were under the impression that watching fireworks from Brooklyn Bridge was a secret. Boy – we were wrong!
The bridge was packed with thousands of people who had the same idea that we had. Unfortunately, the evening did not go as we had rehearsed it in our head. The temperature dropped into the teens, we felt like sardines in the crowd, the fireworks could hardly be seen because of the fog, it took us over an hour to get off the bridge after the show, and we lost our subway pass! We left cold, tired, and desperate to use the restroom. Emily and I still joke every New Years Eve that we are so thankful for a warm living room to watch the NYC festivities on TV.
Below is a popular New York City anecdote that has been used over the years to help long-term investors gain perspective during market turbulence. We found it worth sharing given the volatility we have experienced thus far in 2022.
Part of our investment process here at The Price Group is to remove the “noise” and focus on the fundamentals of the dividend-centric companies in your portfolio. This is not always easy but taking the emotions out of investing is one of the keys to be a successful long-term investor.
About the Author
Matt Price serves as a Partner and Director for The Price Group of Steward Partners. He resides in Houston with his wife, Emily, their three children and "Fisher" the family golden retriever. Matt studied at the University of Pennsylvania – Wharton School of Business for his Certified Investment Management Analyst (CIMA®) designation after receiving his undergraduate degree from the University of Tennessee - Knoxville. Over the past 11 years, Matt has helped families make high quality, common sense decisions regarding their wealth and their legacy. Matt firmly believes everyone needs a wealth coach!
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The views expressed herein are those of the author and do not necessarily reflect the views of Steward Partners or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is no guarantee of future results.
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