I finally got to see the Oracle at Delphi. In Greek mythology, this was a priestess who predicted the future. Unfortunately, her pronouncements were difficult to understand (or easy to misinterpret). When viewed in hindsight, they turned out to be accurate.
When I was a financial advisor, my firm had a strategist who I called the “Oracle at Delphi.” At the time, I could never figure out what I was supposed to do. Months later, events generally lined up with his pronouncements. How can you advise clients when the future looks uncertain?
Start by realizing the future will always look uncertain. There are always things that can go wrong. You have heard the expression, “The market climbs a wall of worry.” It is often true. Problems often appear from nowhere. Another great expression is, “We don’t know what we don’t know.” It’s a useless expression, but it is great.
When the stock market is volatile, clients want guidance. As another thought leader said years ago, “When it is all over, they will remember the advice you gave them at the time. They might have chosen not to take it, but they will remember what you said.”
You need to say something, even when the outlook is uncertain.
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