AQ and Tex - The Next Big Trade
September 1, 2021    Jordi Visser
The following is an excerpt from Weiss' recurring market commentary, Jordi's Journal, which focuses on timely thoughts and musing on the financial markets. You can access a full copy of the document by clicking here.
Three years ago, my grandmother died at the age of 97. Growing up in Texas and being a strong woman, she was affectionately called Tex. According to her, she got that name from the factory she worked in that was producing equipment for World War II. My grandmother and I had a very close relationship. There were many reasons for my affection for her which to tell in this paper would involve hours of writing and multiple breaks for emotion. I know this because I went through it while delivering her eulogy after she died. To summarize her eulogy, I described how she taught me the keys to navigating life’s ups and downs and specifically the importance of AQ; Adversity Quotient or Adaptability Quotient.
She was born in 1920. This means when she was just 19 and about to embark on her journey as an adult, she had just lived through The Great Depression in a family fighting for enough food to survive. If that wasn’t enough of a challenge, she was now about to spend the next six years experiencing the devastating effects of World War II. As a child hearing her talk about these horrible experiences and the everlasting fear of debt, it always struck me that she had the ability to balance these memories with the good times as well. I remember how her eyes would light up when she described the emotional experience of watching Babe Ruth circle the bases and recognizing the important underdog stories of the actual Cinderella Man, and listening to Sea Biscuit vs. War Admiral on the radio. She taught me so much, but most importantly, life is not fair, but life is good, and out of adversity comes new growth. Be grateful for the good things in life because it will help you get through the bad times. When you make it through challenges, those become memories of accomplishment and survival and help provide strength the next time life is not fair. I will always remember her simply as one of the strongest and most loving people to others that I have ever met, despite her growing up during one of the worst periods in the world in the last 100 years.
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TOPICS: DOLLAR WEAKEN, ECONOMY, INFLATION, MARKET ENVIRONMENT