Quote of the month: “Each morning we are born again. What we do today is what matters most”

Our man the Buddha was, as many of you know, a rather wise man. He may not have been a hedge fund manager and he may now be long gone, but he sure had a few lessons to teach the money managers of today.

One of his terrific and still highly relevant quotes is:

“Each morning we are born again. What we do today is what matters most.”

In other words, don’t live in the past. You need to get on with things and deliver here and now. This is particularly relevant to those of you who manage other people’s money. Sure, your historical track record may be very impressive. It may have helped you with your capital raising and contributed to establishing a comfortable AUM number for your fund.

But past glories mean nothing if you can’t deliver consistently. Thus, today should be your focus. Wake up, smell the coffee and keep delivering outperformance for your investors while protecting the downside.

Yesterday’s hero can easily become today’s zero. You are only as good as your last trade or your fund’s most recent monthly performance.