A Simple And Powerful Concept
Eckhart Tolle’s New York Times Best Seller The Power Of Now has sold over 3 million copies worldwide and has been translated into over 30 languages. The basic premise of the book is captured in the excerpt below:
“Nothing has happened in the past; it happened in the now. Nothing will ever happen in the future; it will happen in the now.”
The Twin Thieves: Fear and Regret
Our entire investing lives have taken place in the now. We have never executed a buy order in the past, nor have we ever executed a sell order in the future. However, we have all wasted a considerable amount of mental energy thinking about the past or worrying about the future.
The Past Is Yesterday’s News
Investors cannot go back in time. Dwelling on the past can expend a tremendous amount of emotional capital that could be used to make sound and rational decisions in the present.
“Sometimes letting things go is an act of far greater power than defending or hanging on.”
Eckhart Tolle
No One Can Predict The Future – So Why Waste Time And Energy On It?
Since economic and market outcomes are based on the future actions of millions of consumers and investors around the globe, logic tells us no one can consistently predict where the economy and markets are headed. If the best football handicappers don’t perform much better than a coin flip when trying to predict what will happen when 22 players compete for just 60 minutes, how can we expect someone to accurately forecast the actions of millions of consumers and investors 12 months in advance?
How Can The Now Help With Investing?
Would you rather invest based on a forecast with 50-50 odds or would you prefer to invest based on information known with almost 100% certainty? The future is very uncertain, but we can understand the current profile of the financial markets and economy with near 100% certainty.
What Are The Facts Telling Us In July 2017?
