Value Library
The following is an excerpt from
the ABC Perspective - July 2007 - Pg. 16
Lessons My
Teenagers Taught Me
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“When I was a boy of fourteen, my father was
so ignorant I could hardly stand to have the old man around. But
when I got to be twenty-one, I was astonished at how much he had
learned in seven years.”
Mark Twain |
As a father of three teenage
sons I marvel how much I learn each day from my boys. From their
perspective, I know nothing. This lack of knowledge encompasses a
wide-range of subjects such as teenage dating, money, cars,
securities investing to managing my own company. In the words of
my eldest son who related to me a couple of years ago, ‘Dad, you
just don’t get it.’
The boys see me often working in
my office at home and can’t fathom why I wake up so early each
morning, to plan my day, carry out fundamental research and read three
daily newspapers. “Dad,” they say, “why don’t you sleep in and go to
the office later… you are, after all, the boss.” When I try to explain
myself and use expressions like ‘the early bird gets the worm,’ ‘hard
work never hurt anyone’ or ‘make hay while the sun shines,’ my sons
will always counter “Dad, you just don’t understand” or “Dad it’s
different today compared to when you were a teenager.” With this my
wife laughs and urges me to be patient; ‘the boys will come around to
understand what it’s all about.’
And so I continue on. I try to
explain things whether the boys want to listen or not. When I describe
the investment business, my passion for my work, the excitement of
picking winners and the frustration of losing stocks, they nod their
heads indifferently. Recently, my 17 year-old son, now entering his
final year of high school, informed me that after listening and
watching me all these years he has decided to study business in
university. Would I help him choose a proper business school? I was
floored. I was honoured. My second son inquired a few weeks later
about business school as well. I am shocked but I feel vindicated.
In retrospect, I have learned a
couple of lessons from my teenage sons:
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Patience cannot be taught or
acquired. It is a function of a child’s maturation, understanding
and a little tender loving care. Looking back I am thankful that I
never lost my cool but instead patiently depicted my work in
positive terms. But more importantly, while children may appear to
be disinterested they are, in fact, listening.
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It isn’t easy for a 13, 15 or 17
year-old teenage boy to understand investments when he may be far more
interested in a Raptors basketball game, a Saturday night party or
watching the latest episode of Heroes on television. In due course,
however, they do learn to understand.
In summary, it is interesting to
note that the principles of patience and understanding, which are so
key to investment success, are equally significant to one’s family
life and the education of our children. This lesson, I believe, is
worthy of remembrance.
Irwin A. Michael, CFA
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