Letters to Our Clients
Sometimes, I think those of us in the investment business strive to obtain the abilities of Star Trek’s Mr. Spock. Spock, the half-human half-Vulcan, learned to ignore the human emotions buried inside his self and use logic in order to solve the problems before him. Just think, what great investors we could be if we could simply control our human nature. As a Vulcan, we could construct an investment portfolio that would produce higher returns than any human could produce. As a Vulcan, we would not worry about commissions and taxes, or have any qualms about borrowing someone else’s money to use and invest. After all, our Vulcan logic could easily create the portfolio that not only covers any and all costs, but would effortlessly reside on the “efficient frontier,” where no man has gone before.
Kendall J. Anderson, CFA