HISTORY LESSONS
  • The Books
  • The Blog
  • The channel
  • Extra Credit
  • Visit Victory Independent Planning

This Day in History...

10/19/2020

0 Comments

 
Picture

On October 19, 1781, British General Lord Cornwallis surrenders 8,000 British soldiers to a combined French and American force at Yorktown, Virginia.
​

Since 1776, the Colonials under George Washington had fought few major battles and usually came up short when they did. Washington led rebel militiamen in driving the British out of Boston early in'76, but afterward his outmanned Continental Army suffered mostly through minor defeats, humiliation and retreats. He refused to give up, but he also refused to risk his entire force when annihilation was a possible outcome. Washington avoided the big loss until opportunity knocked.

For six years he conducted a defensive war, avoiding a decisive engagement until he had the advantage of numbers and surprise near Yorktown. Washington managed to slowly erode the British will to fight, while refusing to commit his entire force to anything like a decisive engagement. In investment terms, he made the most of his opportunities. He had the patience to wait and avoided the emotional temptation to bet it all on one throw of the proverbial dice. Independence, financial or from monarchs, is won by strategic thinking, patience and an unwillingness to take outsized risks for uncertain gain. 

0 Comments

    RSS Feed

    Don't wait for history to happen...

      Sign up to have your lessons delivered to your inbox.

    Deliver My History Lessons!

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    February 2017
    January 2017

    Categories

    All
    ABL
    Action Bias
    Advice
    Advisor
    Anchoring Bias
    Annual Recap
    Astronomy
    Aviation
    Bandwagon Effect
    Baseball
    Broadway
    Bull Market
    China
    Christmas
    Civil War
    Cognitive Bias
    Cold War
    Columbus
    Confirmation Bias
    Corrections
    COVID
    Cyclicality
    DALBAR
    Darwin
    Data
    D Day
    Diversification
    Earnings
    Economics
    Emotions
    Expert
    Expert Bias
    Federal Reserve
    Fiduciary
    Financial Media
    FOMO
    Football
    Founders
    France
    Fund Flows
    GDP
    Gift Planning
    Globalism
    Golf
    Government
    High Jump
    Impressionism
    Inflation
    Interest Rates
    Italy
    January Effect
    Journalism
    Julius Caesar
    Loss Aversion
    Market Timing
    Music
    Normandy
    October
    Oregon State
    Performance
    Pilgrims
    Planning
    Politics
    Prognostication
    Property Rights
    Rationality
    Recency Bias
    Regulation
    Retirement
    Revolutionary War
    Risk
    Roman History
    Santa
    Sell In May
    Sentiment
    Spanish Flu
    Statistics
    Taxes
    Technology
    Tennis
    Trade
    Trade War
    Unintended Consequences
    VIX
    Wall Of Worry
    Wild West
    WW I
    WW II

Patrick Huey is the author of two books:  "History Lessons for the Modern Investor" and "the Seven Pillars of (Financial) Wisdom"; this is considered an outside business activity for Patrick Huey and is separate and apart from his activities as an investment advisor representative with Dynamic Wealth Advisors.  The material contained in these books are the current opinions of the author, Patrick Huey but not necessarily those of Dynamic Wealth Advisors.   The opinions expressed in these books are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. They are intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed in these books is no guarantee of future results.  As always please remember investing involves risk and possible loss of principal capital. 
  • The Books
  • The Blog
  • The channel
  • Extra Credit
  • Visit Victory Independent Planning