Richardcyoung.com

The Online Home of Author and Investor, Dick Young

“The Moment” I Lost Money

By

If you’re over 50 and lived in or around the Boston area during the 70s then you know the moment. 45 year’s ago, Mother’s Day 1970, Bobby Orr took the pass from Sanderson, scored to clinch the Stanley Cup, and “The Flying Bobby” was born.

That was the defining moment in Boston sports for Boston Globe sports-writer Kevin Paul Dupont. In describing his most important moment in Boston sports he talks about winning and losing. It made me think about making and losing money.

I lost money at a very early age and it hurt.

The summer between my Junior and Senior years at Babson I had an internship at a start-up company. I believed in the product and when my internship was over bought shares in a private-placement. It was a lot of money at that stage in my life. It IPOed and my shares were suddenly worth good money. Then the tech bust came and the rest is history.

I’ll never forget what losing that money felt like.

In writing about Bobby Orr, Dupont reminds us of what it’s like to lose. “Loss lingers, gnaws, regurgitates its pain.”

“Triumph settles quietly, confidently, in trophy cases and statues,” notes Dupont, “Loss exacts a toll. Winning pays dividends.”

I am reminded every single day that winning really does pay dividends.

The following two tabs change content below.

E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.