President Abraham Lincoln’s birthday fell on Feb. 12, 1809; 200 years later, we’ve come full circle, as President Barack Obama leads the United States. Although Lincoln never knew what an exchange traded fund (ETF) was, neither would he have imagined the mess the economy could become.
On Thursday in Washington, Obama began his tributes to Abraham Lincoln in honor of his 200th birthday. Although we are far less divided than we were in Lincoln’s day, critical issues are dominating our nation with the same ferocity. Obama continues to acknowledge that we are still honoring the same flag and it represents the same people, reports Mark Silva for The Los Angeles Times.
As you and the markets take a breather today, pause and remember one of our greatest and most human presidents in history. What can we learn?
- Educate Yourself. Lincoln taught himself to read. Teach yourself how to manage money and invest.
- Get the Timing Right. Lincoln waited for the most opportune time to introduce the Emancipation Proclamation. Likewise, investors can learn about timing and its importance in their overall strategy. Know when to buy, and know when to sell.
- Have a Sense of Humor. Lincoln was famous for his wit and loved to unwind by reading or spending time with his children. Know when you need to take a break, too – don’t let your emotions get the better of you when you’re investing.
- Have Patience. Lincoln was a very patient person and not known for quick and easy results. Don’t expect anything to come easily when it comes to your ETFs, either. If you’re expecting to get rich overnight, you’re likely to be very disappointed. Slow and steady wins the race.
- Have Forgiveness. Lincoln delivered a stirring speech that served to heal the nation’s wounds after the Civil War – he harbored no malice toward the South. Have forgiveness for yourself if you make a mistake. What’s done is done; learn from it, and move forward.
Wednesday night, the president and first lady Michelle Obama attended a celebration for the reopening of a renovated Ford’s Theatre, the Washington playhouse where Lincoln was assassinated. The true lesson of Lincoln was “unity” and the nation has come miles from 1809, to where we are now.
As said by President Obama regarding the Capitol building, and Lincoln:
“The American people needed to be reminded, he believed, that even in a time of war, the work would go on; that even when the nation itself was in doubt, its future was being secured; and that on that distant day, when the guns fell silent, a national Capitol would stand, with a statue of freedom at its peak, as a symbol of unity in a land still mending its divisions.”
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.