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Do you recall the great athlete, Bo Jackson? His talent in sports spanned wide, as he was the only individual to be named an All-Star in Major League Baseball and the National Football League, in addition to being skilled in tennis, running and basketball.READ THE ARTICLE
Sports to skilled investors: What does Bo Jackson’s stardom have to do with finances? In 1989, he was Nike’s prime marketer for their cross-trainer shoe ad campaign (find the video in this article), and as such, appeared to know it all when it came to sports (i.e. — “Bo knows”). However, much like your portfolio, Bo’s popularity is more complex than that. In fact, there are three facets of Bo — and your investments — that can be taken from Nike’s ad. They include:
📌 Being great at everything (as portrayed by commercial Bo Jackson): Being “great” at every sport is unattainable, and the same goes in the world of investing. You will never be prepared for and be able to perfectly navigate every market and financial decision.
📌 Being great at a limited number of things (the actual Bo Jackson): Unlike in the sports world, talent and worth ethic are not requirements for a portfolio to be great at a limited number of things. Today’s issue for investors is a reliance on an ability to forecast performance, and while in some instances that can play out well, it’s often better to focus on the third option (below).
📌 Being decent at everything (not Bo Jackson): A personalized investment strategy designed to deliver you long-term confidence and growth is built to decently navigate any potential market environment. It’s not based on forecasting, big swings or luck, but on consistency.
A portfolio with purpose: If you have a disciplined focus for each specific allocation of your life savings, it will most efficiently help accomplish your big-picture, end goal.