A couple of weeks ago, I commented on a post making a joke about how insane current times are. And by that I mean, in practically every single way. Geopolitically, economically… you name it. I don’t remember exactly what the post was about, but I remember @aleitheia712 replying to my comment with the phrase “panem et circenses,” and it stuck with me. “Panem et circenses” comes from the Latin phrase which translates to “bread and circuses.” And it was used in the famous Roman poem “Satire X,” written by a guy named Juvenal around 100 years after the fall of the Roman Republic. Juvenal talked about this fall in the poem, mentioning how the Roman people had sold their votes and let their freedoms slip away, all while they gorged themselves on subsidized wheat and massive chariot races. Hence “bread” and “circuses.” Juvenal historically got misinterpreted in the poem by many scholars, where most assumed he was blaming the leaders for manipulating the Roman people. However, his point was actually that when the people stopped paying attention and gave up, that’s when they really lost their freedoms. Now, obviously we don’t live in Roman times. But we do live in stock market times. And oddly enough, like Roman times, there are an endless amount of similar distractions that can (and do) pull investors away from the main course. I mean, just a few off the top of my head: - Major wars across the world, - Headlines of CEOs saying AI’s going to replace all our jobs (and eventually kill us all), - Analysts saying we’re headed for a market crash, - And the endless other headlines and news stories that pop up on a daily basis. Honestly, it’s quite impossible to NOT get distracted in modern times. But that also means now more than ever, it’s of utmost importance to take control of your attention and put it towards what matters. In this case, financial goals. I don’t want to make this post longer than it needs to be, so treat it as a gentle reminder: It’s so unbelievably important to leave things be in the stock market, because any one distraction that leads you to make a poor decision can cause your portfolio to suffer. So many investors get distracted by bright and shiny objects in the news and headlines, buying and selling according to hype and feelings, which takes away from long-term growth. If you don’t pay attention to the decisions you make, eventually, just like the Romans, you’ll find out the mistakes you made only when it’s too late and the damage is done. Remember, it’s YOUR decisions that affect YOUR future. It’s YOUR attention that matters. So use that wisely, and strive for many years of focused investing without making short-term-minded decisions that compromise your long-term returns. The hard part of investing, after all, is being patient and leaving things untouched. Even when the news cycle makes you want to throw your phone into Lake Ameri—I mean Lake Ontario. That’s it. Thanks for reading. Happy investing, folks.
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29 Comments
Tyler Invests@taipo · 2d
Haha, I tweeted “Bread and Circuses” back on the night when the UFC Freedom Fight Night took place over the summer.
ETF Go
@etf.go · 2d
👍
Eldon
@selldon · 2d
I've learned that you cannot expect people (especially governments) to learn from history. You can however, learn what to expect from history.
Marc Beavis
@marcb · 2d
I really enjoyed reading this post, @jacobb. I agree wholeheartedly that when you stop paying attention, things can go very wrong. Sometimes, very quickly. I also believe that too many investors pay TOO MUCH attention to their portfolios and get lost in the minutiae. A healthy balance is what I advocate for. Again, great post.
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