04 Nov The Slow Lane

Get yourself from one place to the next as expeditiously and efficiently as possible – that’s my motto. From Boston to Seattle in six-and-a-half hours; then from Seattle to Juneau, Alaska in another three. Just enough time to catch up on some reading and writing, and – with- Wi-Fi onboard – a little online research as well.

Imagine my restlessness at finding  myself on a three-day ferry ride from Juneau to Bellingham, Washington. Three days to get somewhere I could easily reach in under three hours. As I climbed aboard the ferry, it occurred to me how  similarly  boring it must be for my firm’s clients to sit by idly while the economy and world events jostle their portfolios about.

In stark contrast to the adrenalin powered anxiety that characterizes the active trader who moves into and out of the market, from one sector to the next trying to anticipate what will happen next — and trying to outsmart all the other traders, our firm’s clients stand quietly by and watch their portfolios bounce along with the rest of the markets in the short term, confident a vigilant and disciplined  long view will get them where they want to be in the end.

As it turned out, my three-day ferry ride not only got us to our intended destination, but along the way we were treated to sights and experiences we’d have missed entirely by plane. The views were spectacular, and we even toured dense temperate rain forests and native history at the ports of Sitka and Ketchikan in Alaska.

In our hurry to reach our intended destinations, we often assume action is preferable to inaction — airport security checks, cramped seating, the rush from terminal to terminal, and the jockeying of luggage from a crowded baggage carrousel just seems to feel more productive than a peaceful and relaxing ferry ride. Or, like an over-zealous baker, vigorously kneading our investment dough, when what it really needs is to be left alone to quietly rise.