MERRY CHRISTMAS

Sitting at the Kitchen Table. It's 11:10 on Christmas morning. The packages have been opened and trash bags are full of wrapping paper. Everyone is pooped, yet there is a huge amount of activity as preparation for Christmas dinner is under way. My philosophy is that the real benefit is in getting the family together. I could get by on a hamburger and chips. Perhaps I just feel guilty because of all the work going on while I sit pounding on this laptop and looking out the window.

How is Your Resiliency Muscle? It's a muscle in your heart. It allows you to bounce back after a set back. I saw a program on television in which a four foot tall man with dwarfism was talking to a classroom of 10 year olds. He talked about the trials and tribulations of being a "little person in a big world". His own situation was complicated by the fact that his legs didn't work normally and he had to use crutches everyhere he went. Despite these many handicaps, he was a successful person by almost any measure you could use. He attributed his success to his "resiliency muscle." How many of us could use a little development of this resiliency muscle? I certainly could as I face the aches and pains of the aging process. Far too many of us sell ourselves short and accept defeat too easily because we don't exercise our "resiliency muscle."

Investors Need a Resiliency Muscle. Nowhere is the resiliency muscle more important than in investment. One of the things I work hard to do is develop a vision of the future to use in making investment decisions. As valuable as this vision can be, it is probably less important than the ability to bounce back after I make the inevitable bad decision. So many things can occur to cause an investment to perform poorly, that I know I can never predict the future well enough to do everything right. But I can't afford to stop trying. There are some very challenging economic changes ahead. No one will be immune to the consequences of these changes but those who resolve not to give up will undoubtedly do better than those who fail to persist.

A Visit From the Eagle. I have always been inspired by the pictures of eagles but, before yesterday, I had never seen this majestic bird close up enough to identify it. Yesterday, as I was sitting in my glassed in living room, looking at the lake a huge bird swooped down within 20 feet of me. There could have been no doubt that it was an eagle. Brilliant white head, with wings spread wide, and white tail feathers. Betty saw it too and we both had goosebumps at the sight. What a gift that visit was! While I won't go so far as to ascribe any particular meaning to it, I am thankful I was sitting by the window at that moment for the vision of a lifetime.