When Matt told me he was writing a book, I supported him.

I also wasn’t sure what would come of it.

We had always believed in what we were doing. We had great clients. We were growing. We were already sharing our philosophy with the people we worked with. Part of me wondered if we really needed a book at all.

But Matt felt strongly about it. He wanted to put something out into the world that might help people see things more clearly. So we backed him.

The first line of the book was, “I want this book to change your life.”

That is a big statement. At the time, I didn’t know what to make of it. Turns out, that Odds On is unique – it is not only informative about investing, but it is also engaging on so many other levels.

Over the last ten years, we’ve kept notes from people who read it. Clients, advisors, students, friends, and plenty of people we had never met. Reading back through them now, what stands out is not that people liked the book.

It’s what they did after they read it.

• “I was completely engaged from the first paragraph and couldn’t put it down.”
• “I did not take one break from reading until I was finished, simply because I did not want to put it down.”

Some people found clarity.

• “I was up until after midnight reading your book, and it changed my entire perspective on investing strategies.”
• “Until I picked up your book, I was losing hope for our profession. Your book gave me a much needed breath of fresh air.”

• “We are gradually converting all our existing clients and spreading the word to others in our office.”
• “I found your story so inspiring that I am seriously thinking of leaving my current job to start something new.”

And some of the most meaningful notes had very little to do with investing.

People who had gone through their own medical challenges wrote to Matt after reading his story. They shared things they don’t usually share. That part of the book reached people in a different way.

The book also ended up in places we never expected. Conference rooms. Classrooms. Zoom calls. Podcasts. Libraries. We heard from someone connected to the management of a university endowment who asked their board to read it, hoping it might shape how they approached their decisions.

And then there are the stories that just stick with you.

One of my favorites came from an old friend of Matt’s he hadn’t seen in years. He gave the book to his doctor. The next time he saw him, the doctor walked into the room and skipped everything else. He just wanted to talk about the book.

“When he came into the room he did not ask me how I was doing, he immediately went to talking about the book.”

That’s when it hit me.

The book was doing something we couldn’t have done on our own. It was reaching people at the right time, in their own lives, in their own way.

Ten years later, I don’t think about whether the book was a success.

I think about the people who wrote in to us about it. The ones who made a change. The ones who saw things a little more clearly.

That doesn’t happen very often.

I’m glad Matt wrote it.

And I’m grateful for where it went.

Here’s to the next ten years of learning, sharing, and taking the long view.

If an investor makes a concentrated bet, he thinks he knows something that the market doesn’t. If an investor diversifies, he admits he doesn’t know what comes next. We are the latter, and the data constantly reminds us to be humble. Here is an image showing the developed markets’ ranking and respective returns over the last twenty years. Would we have predicted Denmark as the standout market or Ireland in the last position? And who will it be twenty years from now? Guess what? As you know, when you own global capitalism, you’re the winner, and guessing isn’t required to succeed.

Past performance is no guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio. Diversification neither assures a profit nor guarantees against loss in a declining market.

“Rick, what are some interesting activities that others are doing that bring joy to their lives?” This is a question that many of my older clients often ask me. I suggest family vacations, volunteering at a charity, and being with your grandkids.

I would now like to recommend something that was never on my bucket list until COVID forced me to spend more time indoors – writing a book about my life!

This process started when my son gave me a Christmas gift in December 2021 called StoryWorth, a website that simplifies writing and publishing a book. Every week for 52 weeks, I received an email with a question. I then would answer that question. I could also eliminate their suggested questions and ask ones I felt were more relevant to me.

Below are some questions asked by StoryWorth:

–  Tell me about your parents and grandparents.

–  How is life different today compared to when you were a child?

–  How did you meet your wife?

–  What advice would you give to your children and grandchildren?

I added some of my own questions, such as:

–  Why was a trip to Russia on your bucket list?

–  What factors do you feel attributed to your long, continued marriage?

–  What is one of the scariest situations you’ve faced in your life?

You can add pictures throughout the stories. This motivated me to go through stacks of old photo albums, many of which were in black and white, of my parents, grandparents, and my younger self.

 My wife and two children were my editors. They added additional information and accuracy to my stories and added more pictures. The book is now 307 pages and includes many priceless photos.

Challenges of my experience:

• Takes time, especially for me, because I tend to write in bullet points, not paragraphs. However, there is no deadline to complete the book…it took me 18 months. The support group at StoryWorth was very helpful in answering my questions.

Benefits of writing a book:

• My grandkids and future generations will know more about my life stories, including several stories that were new to my wife and children,
• The book contains the “greatest hits” pictures rather than losing them somewhere in the basement or on someone’s iPhone,
• Immense personal satisfaction from having written a book.

My takeaway:

I wish my parents and grandparents had written a book about their lives and advice for me and future generations. Now, with current technology, writing a book is much easier. Being older is an opportune time to tell one’s life stories while we still remember them. This is also a perfect gift for parents and grandparents. If you want information on writing a book using StoryWorth, I would be glad to talk with you!