Homer’s Odyssey follows the epic journey of Odysseus as he struggles to return home after the Trojan War. Facing numerous obstacles, including encounters with mythical creatures and the wrath of the gods, Odysseus displays cunning and resilience as he strives to reunite with his wife Penelope and son Telemachus.
J.R.R. Tolkien’s The Lord of the Rings chronicles the quest to destroy the One Ring, which holds the power to dominate Middle-earth. Frodo Baggins, aided by a fellowship of diverse companions, embarks on a perilous journey to Mount Doom, facing dark forces and moral dilemmas along the way.
Aided by a diverse group of friends and allies, Luke Skywalker grows from a young, innocent farm boy to a Jedi Knight who confronts his destiny to save the Rebel Alliance and inter-galactic communities from the tyranny of the Empire and his father, Darth Vader.
Harry Potter, an orphaned boy bullied by his aunt and uncle, but with powers he doesn’t immediately understand, navigates the challenges of adolescence and confronts the dark wizard Voldemort. Through his time at Hogwarts, he discovers the power of love, friendship, and self-sacrifice.
These stories, like the millions of others that have been told since the dawn of ‘man’, are unique in their cast of characters and details, but the underlying theme, the story arc, is the same: the hero’s journey. The destiny of one person who battles against the odds to defeat a powerful foe.
As With Fiction, So To With Life
Also since the dawn of ‘man’, our species has faced tumultuous periods: wars, famine, revolutions, pestilence and climate change.
As with our favourite stories, the details, be it the cause of a war, the trigger of a recession, or the strain of a virus, may vary, but the overarching themes are constant. In between periods of peace and prosperity, our ancestors have faced adversity, adaptation, and recovery.
The period in which we are now living feels unprecedented, we are facing existential threats that generations before haven’t. A banking and sovereign crisis that led to austerity from which many, particularly in the public sector and at lower income levels, are yet to recover; a global pandemic that killed over 700 million people worldwide, the social media-fuelled rise of controversial political leaders and influential commentators at both ends of the political spectrum, and the rise of despotic regimes with imperialistic intent, undermining democracy and actively involved in, or threatening, conflict.
We don’t know what the immediate future holds, and I don’t write this with a pollyannaish view of life (albeit I see more benefit it being an optimist than a pessimist), sadly there will be more innocent victims of the current global uncertainty.
However, history teaches us that while the specifics of each event are unique, the patterns of human behaviour and societal response follow a familiar trajectory. The fact that I am here writing this and you will be reading it evidences our species’ unrivalled ability to survive, adapt and grow.
What the mainstream press won’t tell you, because good news doesn’t sell, is how society is growing; how millions are being lifted out of poverty; how women around the world are being freed from modern slavery and have access to an education unavailable to their mothers and grandmothers; how global life expectancy is increasing and child mortality is falling, and how innovators, funded by capitalist markets, are finding solutions to fight the climate crisis.
What Does This Mean For Your Money
In the 22 years that I have been in financial services, investors have lurched from the bursting of the tech bubble, the fear in the aftermath of 9/11, the threat to the end of capitalism at the height of the Credit Crunch, the panic and distress of COVID and the financial struggles of the cost-of-living crisis. Between these defining events have been multiple years of growth and prosperity.
As individuals, mothers and fathers, husbands and wives, much like the heroes of our favourite stories, we embark on our journeys; our periods of difficulty and uncertainty interspersed with times of growth and prosperity. At the same time, we have to make financial decisions that will support us and our children, in the present and the future.
As investors, we face trials in the form of market volatility, economic downturns, and geopolitical uncertainties. These cyclical forces test the most diligent and patient of investor; it’s never about what the market is doing but what it means for our money, and therefore, ultimately, our financial security.
Yet, the principles of sound investing: diversification, long-term perspective, and discipline remain imperative if we are to get through any times of uncertainty unscathed.
The adage “this time may be different” often arises during unprecedented events, tempting investors to deviate from their strategies. However, history suggests that while the details of the present may be unique, the themes of past experiences should guide our actions. When we recognise these recurring patterns and maintain our disciplines we are more likely to navigate the uncertainties of the present and end up financially stronger as a result.
Photo by Nadine Shaabana on Unsplash
