Well, it never really looked like happening – until it happened. Man City plucked victory from the jaws of defeat and wiped away 44 years of heartache in the blink of an eye. Now the dust has settled, what lessons can we as investors learn from the madness of last Sunday? For me it can be summed up in three words – focus, pedigree and persistence.
How many times did we hear everyone from the Man City camp trot out that “we’re going to concentrate on our own game. What happens elsewhere is irrelevant” ? Predictable though it sounds, there’s no doubt on occasions it pays to block out distractions and certainly when it comes to investing there’s no shortage of ‘noise’ out there. To invest successfully, single-mindedness is a quality you’d do well to possess. So, before deciding what to do with your hard-earned money, find out from your Financial Planner the exact ‘personal rate of return’ you need to reach your important life goals. Then commit to building an investment strategy aimed solely at achieving that result. Don’t allow yourself to get distracted with gloomy market data, the Euro and the million and one other factors outside your control and at all costs avoid taking unnecessary risks.
There’s a saying that “you can’t teach experience” and that applies to investing as well as football. This Man City side wasn’t like many of the others that had gone before who’d made a habit of falling at the final hurdle. This was a side packed full of winners, capable of ‘delivering the goods’ when it mattered most. I believe it pays to be just as selective when choosing investment companies to manage your wealth. That’s why I insist on using fund management groups who’ve delivered impressive, realistic returns at a very low cost, time after time. I don’t believe in ‘one season wonders’ and I’m confident you’ll feel the same.
Ridiculous though it sounds, the stats show that Man City had an enormous 24 shots on target against QPR and 81% of the possession last Sunday. Having never been beaten in any of the previous 18 home games this season they’d every reason to believe that, with enough persistence, their efforts would be rewarded and so it proved.
As an investor, you need to develop the same resilient mindset as the City players. Don’t get discouraged if the returns don’t come immediately. Instead, continue to work closely with a Financial Planner who understands the work that needs to be done and the adjustments required to get the outcomes you’re after. By monitoring the progress of your plans, rebalancing your portfolio, using tax allowances, controlling your risk and so on, history shows us by carrying out the correct actions the rewards will come – if not immediately, eventually.
Napoleon Hill once said “failure cannot cope with persistence”. We’d all do well to remember that, whether we’re playing out the last few minutes of a title decider, or building our long-term wealth.