Education

Lessons from a 30-year career in markets

Lessons from Jon Boorman, who died today

The wife of Jon Boorman, the President and CEO of Broadsword Capital, revealed that he died today after a battle with brain cancer.

Awhile back, he wrote a post about the things he learned in 30 years in financial markets. It’s a great read. Lots of it you have surely heard before but at such a volatile, uncertain time in markets, it’s a good time to remember the old lessons.

I am responsible for everything that happens to me.

Everything. Good and bad, but this mostly comes into play for something bad. You won’t find me blaming the Fed, QE, HFT, or any conspiracy nonsense if my portfolio performs badly. The outcome is a result of my decisions. That bad trade was my stock selection, my execution, my choice of broker, all my decisions that led to that outcome.

He didn’t know he was dying when he wrote his last lesson, but it sure rings true today.

When you’re young, you have so much time but never enough money. When you’re old you have money but never enough time.

How you perceive and value time and money will change many times throughout your life, but at the end there’s only one you’ll want more of, would give anything for, but it won’t be available at any price. Cherish it while you can.

Health is wealth. Take care of yourselves.

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