Wednesday, November 27, 2024

Thanksgiving... and the Best Way Out

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EDITOR'S NOTE

As a reminder, our offices and the markets will be closed tomorrow and Friday for Thanksgiving. I hope you're able to spend this time to rest, recharge, and spend time with loved ones.

It's always a nice reminder that one day of thanks can never really be enough...

Please find Alexander Green's full perspective below...

And Happy Thanksgiving!

- Nicole Labra, Senior Managing Editor

THE SHORTEST WAY TO A RICH LIFE

Thanksgiving... and the Best Way Out

Alexander Green, Chief Investment Strategist, The Oxford Club

Alexander Green

Last year around this time, I suffered a home invasion. Twenty-two of my relatives showed up for Thanksgiving. (Some of them were actually invited.)

We gathered to give thanks for our health, our friends, our family... and a 26-pound bird stuffed with cornbread dressing and surrounded by cranberry sauce, squash soufflé, parmesan-garlic green beans with almonds, and sweet potato casserole.

(No wonder the pilgrims had the Wampanoag tribe over.)

With all our blessings, however, is one day of thanks ever enough?

Of course not. In his book Discovering the Laws of Life, the famed money manager and philanthropist Sir John Templeton recommended a different approach. He called it thanksliving.

Thanksliving means practicing an attitude of perpetual gratitude.

That's not hard when times are good. But for many, it's tough out there right now.

Yet Templeton offers a radical solution. Don't just give thanks for your blessings. Be grateful for your problems, too.

This seems wildly counterintuitive at first blush. But facing up to our challenges makes us stronger, smarter, tougher, and more valuable as parents, mates, employees... and human beings.

Calm seas never produced a skilled sailor. Solving problems is what we're made for. It's what makes life worth living.

Says Templeton...

Adversity, when overcome, strengthens us. So we are giving thanks not for the problem itself but for the strength and knowledge that will come from it. Giving thanks for this growth ahead of time will help you to grow through - not just go through - your challenges.

Circumstances alone never decide our fate. We all have the ability to shape our destiny. And it begins with believing we can.

Worries, regrets, and complaints solve nothing. They change nothing. Rather, they undermine your health, your social environment, and your quality of life.

Difficult situations are rarely resolved with positive thoughts or gratitude alone, however. It takes another crucial ingredient: sustained action.

Even then, some problems are intractable. Others - like the death of a loved one - are insoluble. In certain circumstances, only an attitude of acceptance moves us forward.

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Most of our day-to-day problems, however, are created by the person in the mirror.

We made them. And we can fix them. But it starts with thinking about them differently.

This lesson is best learned at an early age. Once when I was about seven years old, for instance, my father asked me to load some heavy-looking boxes into his car.

I looked them over doubtfully. "I can't," I said.

It was one of the few times I ever saw him angry. "What was that word you just used?" he demanded.

"Can't?" I asked, sheepishly.

"I don't ever want to hear you use that word again."

Then he strode off as I (ahem) loaded the boxes.

Journalist Sam Levenson had a similar experience...

It was on my fifth birthday that Papa put his hand on my shoulder and said, 'Remember, my son, if you ever need a helping hand, you'll find one at the end of your arm.'

I'm not suggesting that it's wrong to ask for help. Under certain circumstances, you won't succeed without it. We could all use a boost from time to time.

But it's much more satisfying - and dignifying - when we solve our problems ourselves.

In addition to showing us what we're made of, working through our setbacks makes us more sensitive to - and more compassionate toward - the problems of our fellow man.

Look around and you'll see plenty of good people with more troubles than you. This is the season to remember them, incidentally. (Although the true spirit of Thanksliving means remembering - and giving - all year round.)

Whatever problems you're grappling with - personal, social, or financial - the best course is always to face them with all the courage, patience, and equanimity you can muster.

And, if possible, be grateful. Opportunity often shows up disguised as hard work.

On occasion, of course, our problems are simply bigger than we are. In an address in 1859, Abraham Lincoln recounted the tale of King Solomon...

It is said that an Eastern monarch once charged his wise men to invent him a sentence, to be ever in view, and which should be true and appropriate in all times and situations. They presented him with the words: 'And this, too, shall pass away.' How much it expresses! How chastening in the hour of pride! How consoling in the depths of affliction!

That's something worth keeping in mind.

Whatever your problems, few of them can withstand the onslaught of optimism, persistence, and a genuine spirit of gratitude. So get moving.

As the poet Robert Frost reminds us, "The best way out is always through."

Good investing,

Alex

P.S. If you're feeling that you would be a lot more grateful for Thanksgiving this year if food prices weren't so high, you might upgrade your perspective with this excellent column from my friend Gale Pooley.

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