Broker Check

Times Change, People Stay the Same

April 22, 2020


I took the Metra to work every day before the shelter-in-place took effect last month.

From Clybourn to the Arlington Heights stop, I've been a regular on the 7:20 am outbound and one of evening return trains ever since joining my family's business in 2015.

The 40-minute train ride provides a lot of down time to do whatever. Sometimes (a lot of the time) I'll be on my iPhone, decompressing from the workday. But other times I reflect and think about different things going on around me. 

One night on the train, I'm not really sure why, I began thinking about all of the people who have done my same suburban-city train commute over the years. Thousands and thousands of commuters spanning decades, taking the train to/from their jobs to earn a living. All of these people having their own personal situations, aspirations, and struggles. 

While their circumstances differed, most people were and still are after the same thing(s) -  to find purpose and provide for themselves and their families.

The times change but people stay the same.

This is an important concept to understand when it comes to investing.



Every decade has a different market crisis, often more than one. Each crisis was new, scary, and unprecedented at the time. And humans have reacted fundamentally the same way to each - we're hardwired to be emotional and become increasingly risk averse when we sense danger. But just as consistently, we persevere through uncertain times.

Despite natural disasters, world wars, bitter political conflicts at home and abroad, periods of devastating unemployment and/or sky-high inflation, major recessions, and the global financial crisis, the people that make this engine go have never given up. They are the business owners, entrepreneurs, and employees who get our economy back on its feet when the odds are stacked against us the most. Their resilience plants the seeds for an economic recovery, thwarting worst-case scenarios and ultimately helping to drive the stock market higher, time after time.

While the times certainly change, the human spirit does not.




Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.