Friends,
On December 5, 2014, Ernest Shackleton and his crew on The Endurance set out for a journey across the Antarctic. They would never set foot on the continent.
Instead, they endured 10 months on the ship -- mostly trapped by ice. After The Endurance was crushed by ice, they spent the next 5 months living on floating ice ("floes"). And after a harrowing week-long trip in rescue boats, they spent the next 4 months on the desolate Elephant Island.
Miraculously, on August 30, 1916 -- 634 days after setting sail -- the entire crew of 28 men were rescued. Shackleton's ability to guide the crew to safety -- and helping them maintain sanity for that long -- has been considered one of the greatest psychological accomplishments of all time.
It's informative -- then -- to consider how Shackleton did this. While the technical skills of his crew mattered, it was their temperment that was paramount when deciding who to hire for the journey.
When Reginald James, for instance, recalled being interviewed for the position of physicist:
"I was asked if I had good teeth, if I suffered from vericose veins, and if I could sing."
The last one in particular sticks out. Instead of asking about his schooling or scientific theories, Shackleton wanted to know if the man could sing.
Over time, that question proved poigniant. Shackleton knew that if his crew had to endure an Antarctic winter trying to stay alive, the ability to keep spirits high and light would be worth its weight in gold.
The same could be said for investing. Of course, it's important to know how to read financial statements, value a company, and keep up with current trends. But as Warren Buffett once said: "Investing is 10% brains, 90% emotion."
That's why, if I were to interview someone to invest my life's savings for me, the first question I'd ask is:
"What does your meditation practice look like?"
If you've never tried, meditating is hard. My son (Stoffel, here), once tried to keep his mind clear for 10 minutes. He lasted one. The same can be said for many of my friends. And -- until I started my own practice nine years ago -- the same could be said for me.
If nothing else, it teaches one how hard it is to control the mind. Once you realize this, you can create a miniscule pause between stimulus and response.
And that pause makes all the difference.
It's what stops you from selling high quality companies when the market is volatile. It's what helps you swallow your pride and buy the company you once sold -- or sell the company you once bought with adulation. It's what -- over time -- creates the conditions for learning and outperformance.
If you could pick one New Year's resolution for 2026, giving a try at meditating could reap enormous long-term rewards for your investing...and your life!
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Brian Feroldi, Brian Stoffel, & Brian Withers
Long-Term Mindset
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P.S. It's Official, we are splitting up our YouTube Channel. Brian Stoffel is starting a new channel that will cover earnings, his portfolio moves, and more. Subscribe to his new channel by clicking here.
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