3 things I'm thinking about this week...
But…TJ Maxx’s true calling is in the clean-up business. They’re atop every clothing manufacturer’s “speed dial” list. When too many XL aqua Polo shirts are made, TJ Maxx writes a check, sends them off to specific regions/stores (even certain positions on the rack) and doesn’t post prices online, protecting their customer’s brand image. Their customer is really the manufacturer…the source of the good deals you see at their stores. More on this from CNBC here.
3 - Use the Plan, Luke. I actually have a more distinguished history of stopping exercise programs…for a fairly wide variety of reasons…that I do of launching them. But at 54 I’ve decided to swim every day. Yes, a full two weeks in…so I’m full of wisdom. My new mindset: make my default choice each day to swim at least a little bit. And, I haven’t done this but I’ve been showing up more often.
Crafting…and more importantly WORKING your investment plan benefits from a similar mindset. A little every day. To do that make sure you have an understandable plan (many aren’t). Then your default should be: use it. When events happen, consult your plan…ask if anything’s changed with your goals/values, and if not, then…. keep following it. Through the next several decades of market ups, downs and everything in between. Sometimes this can be challenging…helping clients get through this is what I do for a living.
...and one more thing
What a collab for me: Costco + good beer! Costco’s efficient distribution provided Deschutes Brewery of Bend, Oregon just enough scale to sell a lager made with expensive German malt nationwide at a bargain price (just over a dollar a can). Smart to keep the Deschutes name on it, too…meaningful brands matter in beer. Nice writeup here.