You don’t have to be a country bumpkin to understand what a Cow Staring at a New Fence means. But you do need some explanation as to how it relates to investing in today’s Turbulent Times.
This story revolves around an annual ski trip I made many years ago with two friends – Jeff, from North Carolina and Mike from Ohio – who lived in Colorado.
Jeff had a southern accent which frequently made him the target of Mike’s very funny imitations of southerners.
The first day in town the three of us went to the store to stock up on food, supplies, and of course, beer for the week.
Jeff said he’d get the beer and Mike and I were to get most of the other supplies.
While getting basics – bread, peanut butter, pizza, junk food, candy, and more junk food – I heard Mike (who’s naturally very loud and boisterous) say, in a southern drawl: “Lord, God, Jeff. You’re just a gawkin’ at that beer case like a cow starin’ at a new fence.”
I quickly went to the beer section and, sure enough, Jeff was mesmerized while staring at one of the biggest selections of beer I’d ever seen.
I quickly grabbed a case of Miller Lite while scolding my friends saying: “You morons act like you’re on drugs. C’mon, let’s go.”
Jeff was still gawking as I headed to the checkout.
Long story short, Jeff ended up buying some very expensive exotic beer that we all hated.
Instead of throwing it out, we ended up leaving it in the refrigerator of our condo for the next guest.
So, what does this have to do with investing in Turbulent Times?
Staring at a New Fence
Whenever you’re in extremely volatile markets, like we’re living in today, it’s easy to get mesmerized – or frozen in place – when looking at so many choices of where to put your money.
Fear might tell you; “Don’t do anything.” Or, tempt you to buy something very exotic, and expensive, thinking you’ll hit a home run (fancy expensive exotic beer).
However, common sense will remind you to Stick With What You Know and seek the best value for your money (Miller Lite).
So, what’s the best value for your money in today’s market?
Find out in our February edition of “…In Plain English” (HERE).
Otherwise, you’ll end up “just a gawkin’ at the market like a cow starin’ at a new fence.”
Remember, It’s Not Just About Finance.
P.S. R.I.P Mikey…your ironic wisdom still holds true.