Market Wrap-Up for Jan.28 (CAT, HOT, PETM, NEM, more)
We had a bit of consolidation with the averages today as the new trading week kicked off. Earnings were fairly light on this Monday, but plenty of results are on tap as the week unfolds.
Caterpillar (CAT) shares gained despite the company shedding a bit of caution on its guidance following earnings results released this morning. A split in Wall Street calls had shares of Starwood Hotels (HOT) gaining on some positive chatter, while shares of PetSmart (PETM) pulled back fairly hard on some cautionary analyst commentary.
Gold-mining names like Newmont Mining (NEM) continue to trade worse than the price of the yellow metal. I’m not sure if this is indicating gold prices will be playing catch-up on the downside at this point, but it’s certainly worth monitoring. The continued rally in stocks may have some investors paring their defensive positions.
The Bread Route
When I was in my mid-teens, I had a fantastic group of friends who all came from great families. I lived in a hard-working middle class area where everyone was hustling to make a living. One of my particular friends had several older brothers who were very ambitious. Well, one of them had a bread route that my friend would help out with on Saturday nights. So as we were all just hanging out, he would be getting ready for his Saturday night gig that would have him riding in the bread truck with his brother from the evening hours up until around the 5:00am hour on Sunday mornings.
As much as I missed having him hang out with us, part of me was a bit inspired he had the opportunity to work with his brothers in that capacity. Being an only child, I realized those same opportunities wouldn’t be in the cards for my own family situation. Still, I knew I had the right DNA to make opportunities on my own when the time was right.
I quickly learned the value of sacrifice, with my friend missing hanging out with his buddies during years where he was still considered too young to be working and likely miss out on some good fun. I kept that concept in my memory bank as I got older. Sacrifice became more ingrained in my memory after watching my dad circle around his barber chair year after year, rarely taking much time off. Most of the people I can remember in my early life just kept pushing hard and never would fuss about how tough work was. They just did it. These influences instilled in me the work ethic that remains to this day.
That said, I truly believe one can correlate ambition with recognizing sacrifice. I’ll go one step further and say that success is really just a matter of time — it just may not come full circle till you reach a certain age. Given the varying amount of success I have had in my life, the biggest and most prominent success didn’t come until I was in my early 40′s. Still, I strive for even more success in the future. Staying in the game for as long as possible will continue to create opportunities for future successes. As time goes on, you also realize that your personal success sometimes depends on contributions from other good people. Sharing your knowledge with others becomes a great joy, and working with high-quality people can help you reach much greater heights than you could’ve on your own. Collaborating with others on great successes is a truly memorable experience.
So, remember those who have made the key sacrifices to help you get to where you are. Carry on these traditions not just in your work ethic but also in investing. Realize that great returns come in time, and nothing of long-term quality gets created by constantly jumping in and out of the next great thing (whether it be a business idea or stock tip). Patience, hard work, and sacrifice will be rewarded in due time.
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