In the movie "Fight Club", the first rule of Fight Club is never talk about Fight Club.
In CrossFit, the joke is that the first rule of CrossFit is always talk about CrossFit.
So here goes. Last summer, I started attending CrossFit Good Life in Peachtree City. My goal was to get better month to month and I enjoyed it immensely.
The coaches, Kristopher Green and Kaitlyn Crittenden, and the other members, made me feel very welcome. There I learned that the squat was a good foundational exercise. I learned the kettlebell swing was a good exercise. I experienced that interval training would improve my conditioning. Likewise, I improved my strength by lifting weights and engaging large muscle groups.
CrossFit has certainly arrived as a fitness trend but none of these exercises are new or particularly groundbreaking. The Russian Army has been using kettlebell exercises for conditioning for its soldiers for decades.
In the financial services industry, we are constantly bombarded with new products and new investment ideas. We are told that this investment philosophy or that approach is old-fashioned and out of date for an increasingly complex world. But just like the exercises in CrossFit, many of the established ideas in investing such as diversification, understanding risk, having a long-term view, do help clients in the pursuit of their goals. When researching a new investment, ask yourself, "Does this help me reach my financial goals?" Also, "Do I really understand how it works?"
Kris and Kaitlyn would often watch me workout and tell me something to correct my technique. Because I possess a keen analytical mind, I would ask them why I need to change my technique. They would say "Because if you do it that way, you are going to hurt yourself."
The lesson is that we can all benefit from good coaching.
So if you come across a new, hot investment idea, or is someone is trying to talk you into one, please reach out to a trusted financial advisor to see if that investment is in your best interests.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.