One of our favorite authors at Venture Visionary Partners is Morgan Housel, who wrote the New York Times bestseller The Psychology of Money in 2020. Recently, he wrote another book called Same as Ever. The book is filled with rationally optimistic stories and anecdotes, mixed in with historical perspectives that reinforce our long-term bullish view of the world (and the markets).

One interesting observation comes from a chapter called “The Wonders of the Future”. Housel writes, “A common view through history is that past innovation was magnificent, but future innovation must be limited because we’ve picked all the low-hanging fruit.” On January 12, 1908, The Washington Post ran a full-page spread headlined, “America’s Thinking Men Forecast the Wonders of the Future”. Among the men buried in the fine print was Thomas Edison. Edison had already changed the world at this point; he was the Steve Jobs of his time. The Post editors asked, “Is the age of invention passing?” Edison answered…. “Passing???” He repeated the question in astonishment that such a question should be asked. He explained… “No, it hasn’t started yet. That should answer your question. Anything else?” They then asked, “Do you believe the next 50 years will see as great a mechanical and scientific development as the past half century?” “Greater, much greater,” Edison replied. He went on to say this development would cross all lines.

That wasn’t blind optimism. Edison understood the process of scientific discovery. Big innovations don’t come at once but rather build slowly when small innovations are combined over time. And of course, we now know that this is exactly what happened! Somewhere, someone right now is inventing or discovering something that will utterly change the future. Coincidentally, on January 12, that same day, the Post ran this story, “The first long-distance wireless message was sent in France”.

Stay optimistic – and thank Ohio native Thomas Edison for the light that allows you to read this post!

Advisory services provided by Venture Visionary Partners, LLC (“VVP”). Venture Visionary Partners LLC is registered as an investment adviser with the Securities and Exchange Commission (SEC). VVP only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability. 

Please remember that past performance may not be indicative of future results. All investment strategies have the potential for profit or loss.   Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Venture Visionary Partners, LLC (“VVP”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Changes in investment strategies, contributions or withdrawals, and economic conditions may materially alter the performance of an investor’s portfolio. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Insurance services provided by Venture Risk Consulting, LLC and/or independent insurance agents. VVP and Venture Risk Consulting, LLC are separate but affiliated entities via common control and ownership.  Insurance, risk management, estate planning, and tax information is general in nature. It is provided for informational purposes only, and should not be construed as legal or tax advice. VVP is not engaged in the practice of law or accounting and does not sell insurance products; always consult an attorney, tax professional, or insurance agent regarding your specific legal, tax, or insurance situation. 

Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this material serves as the receipt of, or as a substitute for, personalized investment advice from VVP.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.

A copy of the VVP’s current written disclosure Brochure discussing our advisory services and fees is available upon request. Please note: If you are a VVP client, please keep us apprised, in writing, of any changes to your personal/financial situation or investment objectives. Also, if you would like to add or modify, any reasonable restrictions to our investment advisory services, please contact us so we may evaluate and properly manage your account(s) and service you. We shall continue to rely on the accuracy of information that you have provided.