As I close in on my walk across the Reilly Center stage to receive my diploma, I can’t help but reflect on the experience that shaped my time at St. Bonaventure University more than any other: our student-run investment fund, Students in Money Management or “SIMM” for short. My takeaways from the time spent working with the fund has little to do with investing and more to do with people and life in general, thus applicable to anyone.
Know the basics. You wouldn’t believe the number of people I’ve encountered who spend the bulk of their time trying to tackle the biggest of animals before they truly understand the underlying. A house with poor foundation is likely to crumble, both physically and metaphorically speaking. Whatever you set out to learn in life, know the basics like the back of your hand. It pays off. A true master of their craft always takes the time to perfect the fundamentals.
Learning is a process. Everyone is always so “Go, go, go,” myself included. We’re impatient. We want to know everything about the world in little to no time with the least amount of effort possible. However, the truth is that learning is lifelong, and you can’t expect to ever stop. Be humble enough to know that there is always something new to learn about in this ever-changing world and that being a sponge is the best way to achieve continuous personal development. How can you grow if you aren’t constantly stimulating your mind?
Be a teacher, not a tyrant. Having the patience and compassion to teach others is a great skill and will make you an asset no matter where you are or what you’re doing. When given the choice, don’t be greedy, be an educator, a point of reference for someone who is trying to learn. Being able to encourage others and to share your wealth of knowledge trumps the selfish satisfaction you may get by being a “do it yourselfer.” You will directly help the individual(s) and indirectly help the world by assisting others. So, the next time somebody asks for help, take the time to walk them through the process instead of doing it for them. It’s like the old saying goes, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”
True organizational skills are thought to be had by many, but possessed by few. We all overestimate our ability to consistently stay on top of things. Sure, you can meet deadlines. Over time, you’ll continue to pile more and more obligations onto your plate, and you’ll realize just how mediocre your organizational skills really are. Get ahead of the curve and start micromanaging yourself now. Get a planner and a notepad and write everything down, even if you think you can remember without doing so. Get a calendar and fill it with all events and due dates.
Never underestimate the importance of public speaking skills. You could unlock the key to getting rich quickly, a cure for world hunger or the key of life itself, but if you present it poorly, without confidence or animation, not a soul will listen to what you have to say. Learn to be a showman. The ability to sell an idea is a skill useful in all walks of life, from both a personal and professional standpoint. After all, half of what you say is not what you say, but how you say it.
You must always be able to work in a team. You’ll always be on a team whether it be your family or friend group, at work, in clubs and organizations, etc. Learn to be a team player or perish.
Under promise and over deliver. Always exceed expectations. You won’t always be praised and recognized for the work that you do, and you don’t need to be. Nor should you expect it. There is more to life than being in the spotlight. Put your head down and do the right things for the greater good. Let the positive outcomes of your hard work be enough.
Never say no to a new opportunity when you have the time. I’ve offered underclassmen and new club members the option to join a new group, volunteer their time, etc. on countless occasions. Most people don’t step up to the plate and instead shy away. Half of success is simply showing up. Say “yes” and put yourself out there- you never know what could come of an opportunity.
Learn to say “no” for the sake of your mental health. This can be difficult in practice, but is essential, nonetheless. You’re not a superhero who is here to carry the world on your shoulders. You can’t always “do it all.” Learn when to cut yourself off from unnecessary obligations and activities. Your mental health should be put before anything else.
I’d rather invest in index funds. Sure, stock picking can be fun. It’s like a game of Russian roulette; the markets are unpredictable, yet we here we are dedicating hours a week obsessing over it to uncover the next “hot stock.” It’s part of what I’ve spent three years in school to obtain a degree in. It matters and offers a great learning opportunity, especially for those trying to learn the basics of the finance world. However, we make stock pitches with the conviction that we know something that the market clearly doesn’t. Sticking to performing instead of outperforming saves time, money from fees and some of the temptation of succumbing to behavioral biases. In my opinion, keeping your investments simple and stress-free is ideal.
It feels great to be part of something bigger than yourself. Being a member of SIMM has been one of the greatest joys and most rewarding experiences of my life thus far. I’ve learned more about the markets and about myself than through any formal course.
Thank you to the students who encouraged me to stick with SIMM freshman year, and to the friends and connections I’ve made along the way. It has truly been an honor to be part of such a special group.
By Caitlin Cook, Contributing Writer
cookce16@bonaventure.edu
