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When the Facts Change…
"When the facts change, I change my mind. What do you do, sir?"
--John Maynard Keynes, famous economist and investor
If you want to be a successful investor, sometimes you have to be flexible. Consider the following story about Copernicus and Galileo.
For thousands of years, the scholars of society believed that the earth was the center of the universe. Then, in the early 1500s, a mathematician and astronomer named Nicolaus Copernicus dared to challenge that view.
He made the shocking claim that the earth was NOT the center of the universe. And if fact, he said the earth revolved around the sun instead of the other way around.
Lucky for Copernicus, he died before society fully caught on to the implications of his theory.
After Copernicus died, Galileo Galilei took up the cause and added further evidence to the idea of the earth revolving around the sun. Unfortunately, Galileo’s actions riled up society and he was tried by the inquisition.
Found guilty of “vehement suspicion of heresy,” Galileo was forced to recant and spend the rest of his life under house arrest.
Despite solid evidence to the contrary, people from 500 years ago couldn’t give up the idea that the sun revolved around the earth. Eventually, as evidence continued to mount, by the early 1800s society had finally warmed to the idea championed by Copernicus and Galileo.
As society showed 500 years ago, people don’t like to change their beliefs despite evidence to the contrary. And when it comes to investing, that type of attitude can be devastating to your net worth.
Here’s the key, though. As an investor, there’s a fine line between sticking to time-tested principles and making changes based on new information.
And that’s where research comes in.
At {Your Firm Name}, we are on a constant search for what is true and accurate. While certain principles of investment management and planning retain their value over time, we proactively review the latest research, strategies and tools, and implement those we believe can enhance your results.
Sometimes facts do change. And when they do, we change too and we believe that’s one way you benefit from working with us.
As always, we sincerely appreciate your business and the trust you’ve placed in us.
To spice up your article, you may want insert these two photos.
Photo Credits: Ludwik via Compfightcc Santheo via Compfightcc
Nicolaus CopernicusStar Gazer