Good Enough
This past week on Fast Money, one of the favorite shows of the Financial Analysis Guy, Jeff Mackey conducted a three part series on the trading trend of Good Enough. It’s a trend that assumes the consumer is beginning to finalize realize the fact that the “cheap” alternative is usually just as good as the more expensive version. It is good enough.
If this is true, companies like Walmart and Costco are going to succeed in this new world paradigm. Sales will grow tremendously over time and this less expensive alternative will win out in the masses. I, of course, am extremely interested in this concept as any good financial analyst might be. What does it mean to my investments? How can I capitalize on this sea-change, if it really is one.
Jeff took on several aspects of consumerism in this three part series. As I watched this, I realized it is not just doing my analysis for investment purposes that is so important. The other part of this equation is the Financial Analysis Guy as consumer.
In our quest to climb over each other in this wonderful rat race we are all in, we are constantly reminded that there is always something a little better that we could have had with a little more money, or a little more time, or a little more effort.
Why are we so obsessed with having the very best? I think one reason is the long-time American pastime of “keeping up with the Jones’”. This simply the notion that there is a need of people to compare how they are doing in life with their neighbors; their family; their friends; colleagues; etc.
I am always trying to convince my wife and others around me of the concept of Good Enough. Yes, I get accused of “settling” and being a slacker because I am not necessarily striving for perfection. What does that say about you, Chuck? Seriously, what kind of person are you to settle? Don’t you want more?
Of course I do. But at what cost to get more? During my undergrad and, even my graduate work, I realized that B’s were good enough. It was not that I would not take an A if I could get it, but the amount of work required, extra work, to get that A was overwhelming. Therefore, I was the guy not always swinging for the fences. I was happy swinging and making contact with the ball and getting singles, doubles, and triples. I knew that my quality of life and my quality of education was not tied to my grade, but more the learning experience.
The other side of this argument is growing as a person. How can you grow as a person - personally, professionally, spiritually, physically - if you are settling for good enough? This is a good question, but a huge leap in my opinion. Like everything else I do, I don’t think that this concept can be applied to everything in our lives - nor do I want it. Is my love for wife good enough? Never. How about my health? Nope…not that either. But it does apply to just about every material thing I possess. It does apply to my work and my ability to cope with other people in everyday life. And it certainly applies to my time.
In future posts, I will address several aspects of our lives - material, spiritual, etc, in this series “Good Enough”. I believe this is a topic worth exploring and I want others to comment. I just might be all wet here, but I want to explore it.