Mary sat quietly across the desk from Breed Holloway.

“I’ve been thinking about something you said last week,” she began.

Breed looked up from his notes.

“What’s that?” he asked.

Mary hesitated.

“You said investing isn’t about chasing returns. It’s about understanding what you own.”

Breed nodded.

“That’s right.”

Mary leaned forward.

“But most people don’t understand what they own.”

Breed smiled slightly.

“That’s exactly the problem.”

He reached for a sheet of paper and drew a simple circle.

“Many investors own things they cannot explain,” he said. “They buy because someone recommended it, because it performed well recently, or because everyone else seems to own it.”

Mary frowned.

“So they’re trusting the investment without understanding it?”

“Exactly,” Breed said. “And that becomes dangerous when markets become uncomfortable.”

Mary thought for a moment.

“Because if you don’t understand what you own, the first sign of trouble makes you nervous.”

Breed nodded.

“And nervous investors make emotional decisions.”

He paused before adding one more thought.

“Confidence in investing doesn’t come from market predictions.”

Mary looked up.

“Then where does it come from?”

Breed answered quietly.

“Understanding.”

Richard Sowa, Founder – Read The Money Mirror

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