Perspective is a tricky concept. On the one hand, diving headlong into a subject and understanding it at the granular level can produce insights beyond what you might have even thought possible before starting the task of research. On the other hand, stepping away and evaluating that same subject from a distance can produce insights that are far different—but insights nevertheless. Hindsight is another type of perspective… only the “distance” is time and experience. There’s a subtle wisdom in realizing that some things only make sense in hindsight. This truth resonates deeply—not just in life, but in the world of investing and financial planning.
When markets are volatile or the economy feels uncertain, it’s natural to seek clarity. Investors want answers. Retirees want reassurance. Families planning for the future want a clear path forward. But often, the clarity we crave doesn’t come in the moment. It comes later—after the dust has settled, after we’ve weathered the storm. In the middle of market downturns (or even market upturns as we’ve experienced in recent years) or financial setbacks, we might feel tempted to act on emotion: to sell at a loss, to change course abruptly, or to question a long-term plan. But this is where disciplined financial planning (and experience) can prove its worth. Like life itself, investing is rarely linear. There are periods of uncertainty and periods of waiting. And yet, over time, patterns emerge. Lessons crystallize. And often, the moves that seemed counterintuitive in the moment—staying invested during a downturn, rebalancing when others panic, shifting a fundamental strategy, continuing to invest even when returns are flat—prove to be the most valuable.
The Value of an Open Mind in a Changing World
A core part of successful investing is not just discipline—it’s humility. Humility should be neither modesty nor self-effacement but, rather, an openness (and acceptance) that what was true may no longer be or what worked in the past may not work in the future. The willingness to keep an open mind, to stay curious, and to continue learning is just as critical as sticking to fundamentals. Financial markets, like the world itself, are constantly evolving. New technologies emerge, global dynamics shift, interest rates rise and fall, and consumer behavior changes. What worked a decade ago may not be as effective today (think, Carolina basketball… too soon?!)
To be clear, that doesn’t necessarily mean abandoning the principles that have stood the test of time—like diversification, long-term focus, and risk management (or, a team-oriented, fast-paced offense and on-the-ball perimeter defense for those still fuming about my Carolina basketball comment). But it does mean recognizing that some investment tenets need to adapt alongside changing realities. At East Franklin Capital, we embrace this balance. We might be rooted in time-tested financial principles, but we’re not rigid. We study the data and listen to the signals. And when change is warranted—whether it’s in portfolio construction, asset allocation, or tax strategy—we’re not afraid to adjust course. Not because we chase trends, but because we stay responsive to today’s (and tomorrow’s) reality. Being open-minded in investment management means being willing to say, “what got us here might not get us there,” and then doing the thoughtful work of charting the next step forward.
Trusting the Process—Even Without All the Answers
At the heart of this approach is a mindset of trust—not blind optimism, but grounded confidence in a plan designed to weather both clarity and confusion. Because here’s the truth: clarity rarely arrives on demand (in fact, demanding clarity in the moment usually adds complexity and uncertainty). Clarity is available to us if we are willing and able to see it, and only after we’ve moved far enough beyond the moment to see the full picture. Financial planning is as much about patience and perspective as it is about numbers and markets. It’s about learning to live with questions—and knowing that some of the most important answers will only come with time.
Okay, so maybe we’ve wandered a bit into the metaphysical weeds—but hey, even the most grounded investment management and planning can benefit from a little perspective. Life is unpredictable. Markets are humbling. And sometimes, clarity shows up later than we would like. But that’s exactly why we set goals, build a plan, and chart a course—even if we know the map might need updating along the way. At East Franklin Capital, we’re not in the business of crystal balls—we’re in the business of intentional strategy, steady course corrections, and helping you move forward with confidence (and maybe just a touch of poetic wisdom).
