Passing The Torch

    Something profound happened on Friday night June 22 at about 10:30 pm. The person who initiated this blog passed away at age 93. She had suffered from dementia for about 10 years and God finally called her home. This was my mother, Ella Mae Sheets. She would have liked for me to be a good student in school, but I wasn't. She would have liked for me to become a professional like a doctor or a lawyer, but I didn't. But something happened about when I turned 20 years old that created a bond between us that lasted for the rest of our lives.We began a dialogue about investing that created a spark in me that still burns hot. Our first investments were in South African gold mining stocks. I took time out from my partying ways every week to corroborate with her on the progress of our investments and to discuss other stocks for further research. This dialogue continued for many decades. It was our common bond. I seldom bought or sold a stock without informing or conferring with her. She often consulted me about what she was buying or selling. Something amazing happened during this partnership-we were making money! Not always of course, but over time, our gains exceeded our losses. Our disagreements were mostly just challenges to force a defense of a stated position. Over time, our separate portfolios grew, not because we traded often, but because we let our profits grow. After Mom became unable to manage her accounts due to the dementia, I assumed the management of her portfolio. I was surprised to see that many of the stocks that I had mentioned to her were positions she had taken. She was actually listening to me all those years! Neither my father or mother made much money during their working lives, but because my mother took a keen interest in her personal finances, she was able to retire comfortably and live out her life with the best care possible. I owe much to this woman for instilling in me the notion of saving for retirement, investing wisely and controlling my expenses. I just hope that the torch passes to future generations.