I recently read an article [1] profiling In-N-Out Burger, a fast-food chain based in California that has a cult-like following for their burgers and fries. In-N-Out recently opened their first restaurant in Colorado, and the wait time on opening day was up to 14 hours [2] at one point in the day. Customers at the end of the line would not reach the drive thru window before the restaurant closed!… Read More
The Master’s Minute – Angels in Our Midst
I first met Chaplain Elizabeth at Lancaster General Hospital three years ago. She had left numerous voice messages for me about an accident in which my cousin and her husband had been involved. Having never been to LGH’s Emergency Department, I prayed heartily to God on the drive to the hospital that He would lead me to the right place. Not able to find a parking space near Emergency, I… Read More
The Master’s Minute – Heart Auditing
Most individuals do not get a warm feeling when they hear the term, audit. Typically, an audit means a lot of tedious work, and it can produce significant anxiety should any large discrepancies be found. Though an audit can cause some anxious moments, there is also a lot of good that can come from performing an audit. Performing audits in a retail business will help achieve higher inventory accuracy and… Read More
The Master’s Minute – Light in the Darkness
I’m guessing that I’m not the only one who is feeling afflicted by darkness. Currently, we are in the season of darkness. December and January are literally dark months. This time of year we have between nine and ten hours of daylight, and the other 14 to 15 hours are darkness. In addition, we are in the 11th month of the COVID-19 pandemic with all the limitations we face due… Read More
The Master’s Minute – We Got a Freebie
On March 23rd, 2020, the Dow Jones Industrial average reached its lowest position since November of 2016. From that point until the date of this writing, the index is up 58% and is sitting at its all-time high. Technically, this year will go in the books as a recession for the markets, but as I heard another advisor put it, we got a ‘freebie’ in terms of market corrections. We… Read More
The Master’s Minute – Turning the Page on 2020
This week we close the book on 2020 and look forward to the beginning of 2021! For many it may seem like a more significant event this year than it was in previous years. I have two specific wishes for all of us as we transition into a new year. These are not typical New Year’s resolutions, so allow me to explain. Let’s go back 15 or 16 years. I… Read More
The Business of Money – Survivorship Bias
Survivorship Bias is a term used in the investment analysis community to describe the potential overstatement of success for a set of investments due to only looking at the investments that have ‘survived’ the observed period of time for the data set. When looking for average performance, survivorship bias ends up overstating the success of the data set by not including the investments that failed completely in the time period…. Read More
The Master’s Minute – Behold
When I was in college, I participated in a mission trip to Nicaragua. While in Nicaragua, our team was primarily responsible for preparing the foundation of a new church building. That trip challenged me in many ways, and I had many great experiences during my time there. One of these special experiences was a trip to the Corn Islands, just off Nicaragua’s eastern coast in the Caribbean Sea. While visiting… Read More
The Master’s Minute – Positive Disruption
You don’t need me to tell you that this year didn’t go as expected. Although I had a delicious and enjoyable Thanksgiving Day dinner with my immediate family, it was disappointing not to spend the day in the way I typically do with extended family members. As we approach Christmas, most of our usual gatherings and group celebrations are being put on pause while we’re already fatigued with months of… Read More
The Business of Money – Assessing the Luck Factor
“There is no such thing as luck. There is only adequate or inadequate preparation to cope with a statistical universe.”―Robert A. Heinlein In the book, The Success Equation, by Michael Mauboussin, the author attempts to separate out luck from skill in the areas of business, sports and investing. Many of us might wince at the use of the term ‘luck’ when referring to business success in particular, but at the… Read More
