Bank failures, the debt ceiling/government shutdown, military conflicts, nuclear treaty suspension, etc. - there is no shortage of apocalyptic headlines. Taking a step back, we should perhaps consider if these dire matters will truly jeopardize our personal and financial well-being, or if they are merely what is being served today on the always catastrophic media menu?
This is not to suggest the matters noted above aren't headline worthy. Rather, the point of this brief essay is to consider how we have somehow survived all the crises that have come before - needless to say, the list is quite long and contains some real doozies. Yet, we have not only survived our history, but by most accounts, we have thrived.
Each year I make it a point to read the Chairman's Letter for Berkshire Hathaway- penned by Warren Buffett. This year's iteration was recently released and as always, a very inciteful read. Amongst the many pearls of wisdom embedded in the content, what always stands out the most to me is the enduring perspective of optimism. Here is a quote:
"I have been investing for 80 years - more than one-third of our country's lifetime. Despite our citizens' penchant - almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.”
Hmm... that is quite a juxtaposition from what one might derive from the headlines and financial media.
Getting back to the title of this essay, once the current headlines fade undoubtedly new one's will take their place. And of course, we can be certain that the media will present these new crises in accordance with their tried-and-true formula: negative + sensational = clicks. But, as Mr. Buffett suggests above, the case for long-term optimism is compelling.
Should you have any ongoing concerns related to current events or other matters you wish to discuss simply reach out. That is what I am here for.
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