Determining the Exchange Rate: A Look at Personal Investment Satisfaction
When it comes to understanding the deepest desires and issues in my life, I often find that a look at ancient literature provides insights not available in the modern frenetic whirlwind of living. Making critical decisions that are propelled by pace alone often leads to enormous regrets, personal agony and relationship destruction. I would much rather sit still and get it right than jump on the speeding train headed for a collapsing bridge just because its moving faster. That takes discipline. There is a “herd mentality” that affects us when we see all those people piled on the train going by. And since I lack all the discipline that I need, I consult those who have had more time to think about it than I have, the ones who died centuries ago after lifetimes of patience.
Good advice is good no matter where it comes from. When I find a resonating chord, I try to stop long enough to enjoy the sound. And one of those deeply resonating chords was written by a very wise man, Solomon. In Proverbs 23:23 he said, “Buy the truth and do not sell it”. Of course, this raises an immediate question. What in the world is Solomon suggesting? How do I buy the truth and why should I be careful not to sell it?
A little investigation (which fortunately for you I have already done) reveals something very important. The two actions in this wise saying (buy and sell) carry some very interesting implications. The first Hebrew verb is about acquiring, purchasing and possessing. How does one acquire, purchase or possess the truth? According to Solomon, this occurs in a life-long commitment to principled living, highest standards and ethical obedience. So far so good. All of us would love to have reputations built on that kind of foundation. But now comes the other verb – sell. This word is the basic action of exchange. It suggests bartering. I give something in order to get something else. In our world, the commodity of exchange is usually reduced to money. But money is nothing more than folded time and effort. I give time and effort in exchange for money. Then I exchange this folded time and effort to obtain something else produced by time and effort.
Now here’s the pearl of wisdom from Solomon. Don’t set an exchange rate for the truth! No amount of folded time and effort is worth the barter. When you acquire, purchase or possess the truth, bank it! Never let it go. If you do, you will end up the loser in the deal.
Once again we are all shaking our heads in agreement. Of course we wouldn’t sell the truth for material gain (would we?). Solomon must have known that the possibility could occur or else the warning would have been unnecessary. But one more look at this ancient Hebrew word reveals just how subtle, and dangerous, the exchange rate might be.
There is a very old story in the book of Genesis about an exchange. Esau and Jacob were brothers. Esau, the first-born, had rights of inheritance. But one day Esau was famished from hunting and Jacob, who was a great chef, presented his brother with an exchange. Esau wanted food. Jacob wanted something else. So he proposed a barter. “You give me your right of inheritance and I’ll give you this food”. And here’s the point of this little story. Esau exchanged the intangible birthright for the tangible sustenance. He sold the truth and regretted it the rest of his life.
This ancient wisdom makes me wary when it comes to my own investing strategy. It demonstrates how easily I am tempted to give away what is intangible but vital for what appears as tangible but appealing. Once I barter the truth of my convictions or the values of my position, I won’t get them back. I will have the tangible goods but they will be of little comfort where my reputation is concerned. If my investment strategy does not recognize the intangible assets absolutely necessary for me to have peace and joy, no amount of folded time and effort will be enough to give me solace.
How does this affect my investing decisions? Would you put your folded time and effort into the hands of an Esau? Or a company with Esau’s values? Are you looking for maximum profits regardless of the consequences or the commodity? Are you willing to exchange what is most near and dear to who you are in order to get what you want? Today’s investing advisors often focus entirely on the tangible. How much, how often, how safe. But there is a deeper side to investing – a side that affects how you sleep and how well the meals digest and how high you can lift your head. Buy the truth and do not sell it. That’s very good advice. And it was free.
