Life Lessons from the Racetrack
In all aspects of my life, I strive to be the best. Whether
it’s my career as a Financial Advisor or my personal time as a car enthusiast,
I always try to apply the hard-learned lessons of others to improve my
practice. So, when it came to maximizing the enjoyment of Sophia – the
pet name for my 2016 Maserati Gran Turismo Sport – I sought out the advice of
experts.
I’m fortunate to call former IndyCar racer Lyn St. James a friend, and she encouraged me to step outside my comfort zone and re-learn the basics of driving. Lyn’s career has been an inspiration in many ways – besides being one of the few women to participate at racing’s highest level, she did so in mid-life, winning the 1992 IndyCar Rookie of the Year award at the age of 45.
With both of us
living in the Phoenix area, Lyn directed me to a local driving school just down
the road at Firebird Raceway in Chandler, Arizona.
I was one of six students in the two-day course, assigned to car #5 – a 707 hp supercharged Dodge Charger SRT Hellcat. But before we even turned a key, we took a ground school to learn the basics about weight transfer, tire contact patch, understeer, oversteer, and smoothness.
The instructors emphasized the importance of concentration – being focused 100% of the time and totally aware of the vehicle. You become one with the car to anticipate what’s going to happen, and to make every action and reaction consistent.
I’m fortunate to call former IndyCar racer Lyn St. James a friend, and she encouraged me to step outside my comfort zone and re-learn the basics of driving. Lyn’s career has been an inspiration in many ways – besides being one of the few women to participate at racing’s highest level, she did so in mid-life, winning the 1992 IndyCar Rookie of the Year award at the age of 45.
Lyn still races cars but finds a lot of enjoyment from
passing on her knowledge to novice drivers and encouraging vocational education
in the automotive restoration fields through her role as an ambassador for the
non-profit RPM Foundation. I feel the
same call to mentorship in my own career as an investment strategist, and we
bonded over shared principles.
 |
| Barby and her 707hp supercharged Dodge Charger SRT Hellcat. |
I was one of six students in the two-day course, assigned to car #5 – a 707 hp supercharged Dodge Charger SRT Hellcat. But before we even turned a key, we took a ground school to learn the basics about weight transfer, tire contact patch, understeer, oversteer, and smoothness.
 |
| Barby and her instructor after the final lap. |
The instructors emphasized the importance of concentration – being focused 100% of the time and totally aware of the vehicle. You become one with the car to anticipate what’s going to happen, and to make every action and reaction consistent.
I wondered how I might apply this concept to my own profession.
When managing investments for my clients I focus on many variables. Just as I had to concentrate on speed, car
control, track configuration and road hazards, I have to zero-in on the
individual needs of my clients. I must know their long-term goals, where they
are on the trajectory of their lives, the velocity and variability of their
spending, and their risk tolerance. I need to know how well-equipped they are
to avoid a hazardous investment decision.
I also have to focus on the bigger picture, including the
global economy, the U.S. economy, markets around the world, and the range of
investment options available. My years
of experience help me to guide my clients through volatile times. Because I have a deep understanding of what’s
really happening in the economy and the markets, I can direct my clients on the
proper path. Just like “lead and follow” with my driving instructor, I can’t
predict the future but with a consistent and disciplined approach I can provide
clear direction.
Driving school might not make you a better doctor,
accountant, firefighter, or even financial advisor. But it’s clear that the
lessons learned on the track that day could be applied to all of our lives. If
we can seek the advice of an expert, step outside our learned behaviors, and
apply disciplined action, we can handle any curve or hill the road ahead may
throw at us.
Do you have financial goals and are unsure how to reach
them? Let’s get together and chat
about cars and capital markets!
Lyn St. James and I are proud to support the RPM Foundation
in accelerating the growth of the next generation of restoration and
preservation craftsmen through formal training and mentorship.
Investment Advisory
Services offered through Mutual Advisors, LLC DBA Biltmore Advisors,
an SEC registered investment advisor.
an SEC registered investment advisor.