Well, if I told you I was on the top deck of The Gray Ghost would you know where I am? Hi, this is Scott Carter with PM Capital, and I’m in Long Beach, California, and I’m speaking to a group of investors who are learning how to diversify their portfolios, including their IRA. They’re looking at real estate, they’re trying to prepare for retirement, and I was fortunate enough to be asked to speak at the event on retirement, and what you need to do to prepare for retirement.
The event is being held on what I call The Gray Ghost, which is what you probably know as the Queen Mary. It was decommissioned way back in 1967, but the Queen Mary has seen a lot of history. It was put into service in the ’30s. It is a huge ocean liner. The Titanic was 883 feet. The Queen Mary’s over 1,000 feet long, and 181 feet high. It’s a huge ocean liner and it was the way to travel in the ’40s and the ’50s after the war. But during the war it was painted gray and it used to carry our troops and it could carry 16,000 troops and it was dubbed “The Gray Ghost” during World War II, and hence the name.
But the Queen Mary was decommissioned and is in Long Beach, California. Now, it took on the Queen Mary, which was the fastest at the time, it took four days to get across the ocean, and it reminds me of the fact of how we need to invest. We’re in a hectic paced life. We want everything in nanoseconds. I mean, I can’t remember the last time I took four days for a whole vacation, let alone four days just to get to the destination location, and then four days back if I wanted to go to England. So, gosh, how life has changed.
But when it comes to investing it really hasn’t changed that much. We should take the four-day view, not the four-nanosecond view when it comes to investing. We can’t keep up with high-frequency traders. We can’t keep up with what’s going on with the market every day and making quick adjustments, flying a supersonic jet across the ocean. We’ve gotta have the long view like an ocean liner. We know that we have got time on our side, we’re not going to make rash decisions on our investing, we’re going to invest for the longterm, we’re going to have balance and we’re gonna make sure we own the right investments over the right time.
Just like the Queen Mary we’ve seen a lot of history, and we’ve been around, so we’re not going to fall for the next high flying thing, the manic stage of something like a bitcoin. We know that we’ve got to keep our investments in check, we’ve gotta have the right balance, we’ve gotta have the right mix, and we’re not gonna take any unnecessary risk because we know we got four days to cross the ocean, we don’t have four seconds.
So, like the Queen Mary, let’s be patient in our investing, let’s have the long view, and let’s enjoy the sale. Queen Mary was named the Queen Mary because originally they were going to call it the Queen Victoria, and they went to the king who was the son of Queen Victoria and said, “We’re going to name this after your mother, Queen Victoria,” and he said, “You know my wife, Queen Mary, will love having that ship named after her.” And hence the name the Queen Mary.
Enjoy your day, I hope you’re having a wonderful time, and I’ll talk to you next week. Thanks, bye.