“May You Live in Interesting Times”
According to Wikipedia, this is an English expression purported to be a translation of a traditional Chinese curse. While, at first glance, this may be seen as a blessing, it is normally used ironically, with the clear implication that uninteresting times of peace and tranquility are more life-enhancing than interesting periods, which, from a historical perspective, usually include disorder and conflict.
Without making a list, it is probably clear to most of us that there is currently enough actual and potential chaos around the globe to qualify as interesting times.
Investors should continue to consider the long term potential for a reasoned and appropriate portfolio strategy and not seek to constantly react to “breaking news.” Looking back, history suggests that periods of turmoil are probably more prevalent than periods of worldwide peace and tranquility. However, it is important to recognize that, it’s not that many critical issues don’t get resolved, but rather, there seems to be an almost never ending supply of new problems.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA