Trust the Process

July 3rd 2017, by Adam H. Burns

I have never been a die-hard NBA fan. I follow basketball closely enough to be able to participate in water-cooler conversations here at Master’s. My sports allegiances have always been held by the Philadelphia teams, but mostly by the Phillies, Eagles, and Flyers. I pay attention to the 76ers, but I am a self-admitted bandwagon fan. When they aren’t doing well, I don’t follow along closely. During my lifetime (32 ½ years) the 76ers have been a mediocre team at best, having moved past the 2nd round of the playoffs only twice.

However, during the last few years the Sixers have employed a new strategy in their quest to win (hopefully) multiple championships. They recognized that the existing model wasn’t working and came up with a new plan. Many fans were skeptical, but inside the organization, the phrase “Trust the Process” became the team mantra. But it involved losing…lots and lots of losing.

All the losing has had many fans questioning the strategy of the team. Some were okay with the team struggling in the short-term. But now that “The Process” has taken longer than anticipated, many fans have become impatient. They want to see the light at the end of the dark tunnel.

What many fans don’t seem to understand is that the Sixers are not looking for a quick fix. They have plenty of money to spend on superstars that would probably make them a better team right away. But this would hinder their ability to grow and maintain a successful team in the long run.

Here at Master’s we have our own “Process” that we believe in and follow. We do not pretend to know how the market will act in the short-term and we do not make decisions based on what the market did today. Instead, we focus on the financial behaviors and principles that lead to success in your financial life over long periods of time…having a holistic plan, staying invested in the market, investing at the proper risk level, and not allowing emotions to drive investing decisions. Just like the 76ers, we need to be reminded to Trust the Process.