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B&H Wealth Strategies
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Experience isn't the best teacher

By Jeff Bingham, President

Early this year I began losing strength and dexterity in my right hand, making it difficult to do the simplest of daily tasks including writing. Through a Nerve Conduction Test, it was determined that the 2 main nerves running into my hand were "pinched" off (median and ulnar) requiring surgery. I had the surgery on July 9th and I'm happy to report that my hand is regaining its function – hence I'm back writing!

Unfortunately, I also have suffered with Retinal Detachment(s) this summer. I awoke on June 11th and was completely blind in my right eye and had surgery to repair the eye that evening. 16 days later my retina detached again and I went back into surgery another time. This time they placed silicone oil in my eye to stabilize it. So far so good, but I am essentially blind in my right eye (20/400). Hopefully they will remove the oil by year end and my vision will improve, but unfortunately it will never be as good as it was –too much damage. But, as the saying goes, "This too shall pass" and I'm looking forward to 2019.

"Education is the passport to the future, for tomorrow belongs to those who prepare for it today." - Malcolm X

Have you ever embarked on a new workout/sport? You are confident you can do it and enjoy it, but you are unfamiliar with the techniques and nuances required to do it effectively -- I recently have taken up cycling as a way to get the "Cardio" aspect of my workout routine (yes, you can do it with one eye!) Now you can find how-to-clips on YouTube, but there isn't a practical way to reach out with follow-up questions. You need guidance from a caring individual(s). This is where your local cycle shop comes into play.

I went to Larry's Cycle Shop and Larry & Reece not only know their craft exceedingly well but are excited to share their experience and ideas. You can see it in their body language and the sparkle in their eyes when they explain the differences and nuances of bikes. Plus, they are happy to share riding experiences so your experience will be a good one and you can avoid some of the dangers you might encounter on the road. They are in a word, educators.

What Larry has taught me and what I have learned through logging miles on the road is a fairly simple concept: "Experience isn't the best teacher, - Someone else's is."

I have many goals that I want to accomplish with you. When I ponder the fact that you have entrusted me with your finances, your financial goals, and your dreams, it is truly humbling. Of course, I understand that there are differences between a financial plan and learning to be a cyclist. But I draw up the analogy because they have one commonality—they are linked by the educational component. Just like Larry at his cycle shop, who thrives on his or her customer's understanding of the bike, I experience the same thrill when you begin to grasp the basic skills that make a successful investor.

Even the best of the best never stop learning. In fact, being a lifelong student might just be the first principle of becoming a great investor.

Themes in this letter

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