What is an investment beast?
An investor who doesn’t get scared out of their long-term plan. An investor who knows what they want and will stop at nothing to achieve it. Beasts are relentless.
How do you become a beast?
Do things that scare you a bit. You want to expose yourself to scary, uncomfortable, and difficult things. Over time, exposure to these stressors builds confidence. Confidence builds resilience, and resilience builds beasts.
Right now, the so-called big scary topic of the hour is the debt ceiling.
History of the Debt Ceiling.
The debt ceiling was first established over 100 years ago by Congress. Prior to this, Congress was required to approve each issuance of debt in separate legislation. Since the end of World War II, our legislators have increased the debt ceiling more than 100 times, and it has increased from $300 billion to just under $31.4 trillion (over 100x).
Repeat, Congress has raised the debt ceiling over 100 times.
Be a beast, don’t let scary headlines scare you out of your long-term plan.
-Paul R. Rossi, CFA