Anatomy of the Hunt

Everyone you know has lost money and made money from investments. While the odds may be better than in Las Vegas, the hunt is about what you win and what you lose. Therefore, it is the frequency and degree of wins and losses that define the hunters. And, as with golf, consistency in results makes the champion. Yes, the financial world is complex and it is so because there is a multitude of ways in which money can be acquired or lost. Indeed, the only constant in the dynamics of investing is that money will either come or go. A physicist turned fund manager told us, “you can do three things with money: make, lose or break even.” The journey to any or all of these outcomes can be very interesting. More often than not, hunters say that the money is not the point. It is the journey that counts.