What Charlie Watts of the Rolling Stones can teach us about investing

What Charlie Watts of the Rolling Stones can teach us about investing

Charlie Watts of the Rolling Stones on stage during the band’s 1997-98 Bridge to Babylon tour.

Paul Natkin | Archive photos | Getty Images

One of the biggest rock ‘n roll groups in the world recently lost its rhythm.

Charlie Watts, who died on August 24, had been a Rolling Stones drummer since 1963, not missing a show for over 50 years. They delivered everything you could least expect from a group of Mick Jagger and Keith Richards: consistency, discipline, and quiet detachment from the drama.

There are lessons for investors in the history of a rock band defined by excess and success. For the Rolling Stones, writing great songs and being a great musician wasn’t always enough. As Mick Jagger once said, “Anything worth doing is worth doing too much. ” Fat. Better. Following.

This insatiable appetite is not typical of rock stars. Investors can experience similar emotional ups and downs. The best lesson investors can learn from the Stones doesn’t come from the charismatic singer, they come from Charlie Watts.

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Charlie kept avoiding the limelight. He was calm, thoughtful. Sure, he performed night and night in front of thousands of fans, but he didn’t let the stardom affect who he was.

In several of the group’s photos, Charlie made his cool statement by standing out in a Seville Row costume. Despite all the dramas in the market, investors also have the option of making their silent statements. There are three lessons investors can learn from Charlie Watts’ experience with the Rolling Stones:

1. Be a dholak, not a singer: “If you don’t know who you are, this is an expensive place to find.” – Adam Smith.

This quote was written on the stock market, but the same can be said about the rock ‘n roll lifestyle. Generations of rock stars have learned the hard lessons of coming together playing in a touring band. Investors can be the same way. We chase trends, follow the crowd and let culture influence us. Then we learn the hard way that some of these paths were not for us.

As a rock star, Charlie Watts was different. He knew who he was and who he wasn’t. They contributed to and benefited from the show, but they weren’t always a part of it. He didn’t need it.

He described himself as an attendant, whose job it was to push the big idea into something bigger than himself. This awareness and humility can help us understand when it is enough, when we are enough.

When we invest, embracing the idea of ​​“enough” can help us stop reaching out, stop trying to be someone we are not, and avoid the most damaging lessons.

2. Assemble the groups: “If you want to go fast, go alone, if you want to go far, go together. – Proverb.

The Rolling Stones understand that their whole is greater than the sum of its parts. Mick needs Keith, Keith needs Charlie and the downline group members. You need a team because neither of them will have made their heritage independent of the other. Investors should view their limits as a group.

Starting a group is like diversifying a portfolio: assume that success doesn’t depend on one thing. Each portfolio requires the equivalent of a singer, a rhythm section and a lead guitarist.

The Rolling Stones are the benchmark of musical success because they have learned to appreciate each other’s skills. Smart investors have a similar appreciation for how each strategy in their portfolio makes a unique contribution to long-term success.

3. (I can’t seem to get) Satisfaction: “You would imagine Mick would be the happiest person in the world, but a lot of times that just isn’t the case. “- Charlie Watts

As the party continued after some shows from the band members, Charlie Watts had a different routine. He would go back to his hotel room after a show, take out a sketchbook and draw his room.

There was a lot of excitement around her, but she didn’t need to be a part of it. His satisfaction came from being in the group, but above the ground.

The idea of ​​being above ground is particularly relevant for 2021, when the appetite for risk has shifted from meme stocks to cryptocurrencies to non-fungible tokens. Investors can sometimes stop and ask, “Am I missing something? ” depend on.

Mick and Keith had fun, but with it came instability. Ask yourself if you are looking for contentment or instability? Both have their own risks and rewards.

Charlie Watts kept volatility at bay and preferred to profit from success in a different way. If we are comfortable with our investment strategy, we are free to live on our own terms. It doesn’t have to be dramatic, just satisfying.

His career can best be summed up by the phrase “quiet confidence”.

He showed that calm in the midst of a storm doesn’t mean settling for less. He set his own rhythm on his four-drum kit. With the market noise rising to “11” we could all learn a lot about Charlie’s cultural presence in the Rolling Stones.

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