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Investing Perspectives from Leo Tolstoy

Investing Perspectives from Leo Tolstoy

Leo Tolstoy, one of the greatest Russian writers of all time, is no stranger to anyone who grew up in Eastern Europe, as I did. I became immersed in Tolstoy’s novel, Anna Karenina, at a fairly early age.

However, I was surprised to learn that his writings on non-violence influenced noted figures such as Mahatma Gandhi and Martin Luther King, Jr. I definitely didn’t expect to hear Tolstoy quoted during a recent yoga class in Boston: “The two most powerful warriors are patience and time.”

[Related: What Every Feminist Should Know About The American Financial System]

I couldn’t help but make a strong connection between that beautiful quote and investing. Patience and time are the two most fundamental rules we learn about investing.

When volatility returned to the financial markets in early 2018, we were reminded once more about the importance of maintaining a patient approach to investing. As long-term investors, we need to focus on economic fundamentals and understand that volatile markets may require us to periodically reexamine our financial goals, risk tolerance, and time-horizon.

[Related: Cash Flow Matters: Preparing Your Business for Growth]

That said, we should not make drastic changes based on emotions or “gut feelings.” Wise investors know that the key to wealth accumulation is maintaining long-term perspective and tuning out short-term noise.

One of Warren Buffett’s most famous quotes suggests he also may have read Tolstoy: “The stock market is a device for transferring money from the impatient to the patient.”

Tolstoy and Buffett have that crucial perspective in common, and both achieved truly great things with patience and time.

[Related: Investment Management: Growth Strategies for Your Firm]

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After thirteen years of experience in the financial services industry, Beata Dragovics opened her own firm, Freedom Trail Financial, LLC, an independent boutique wealth management firm in Boston, Massachusetts that works extensively with executives and professionals from various pharmaceutical and biotech firms.


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