It's hard to believe, but it was five years ago today that we started the Taylor Frigon Advisor as a way to have a conversation about the classic "Growth Stock Theory of Investment" and the principles and convictions that guide our investment management process, as well as to discuss some of the current events of the day from a perspective that might be slightly different from what you hear in the news media.
How time flies!
The world in many ways is a very different place than it was on November 09, 2007 when we published our first post. However, the foundational principles that we discussed in that post are just as true today as they were then.
In that post we referenced a paper that Mr. Price wrote in 1973 discussing the principles and convictions that guided his investment philosophy, and although the world had changed dramatically between 1973 and 2007 when we were discussing them, those principles were still just as valid as they were when he wrote them in April of 1973.
For that matter, in his essay Mr. Price writes that he formed those convictions "in the early 1930s, after ten years experience in the investment business." While the investment and business landscape of the country had changed dramatically between the early 1930s and the early 1970s, he clearly believed that those investment principles, which he articulated in that text, remained true.
This is an important lesson, and one that we believe all investors should carefully consider. Today, on the fifth anniversary of our blog, we invite readers to pause and revisit that first post from five years ago. As the saying goes, "The more things change, the more they stay the same!"
Even as businesses and technologies and geopolitical realities change dramatically, we believe the timeless principles of investing remain the same, if they are true. Investment fads, unfortunately, come and go as well, but we believe that those that have stood the test of time should be shared, which is what we try to do through our writings here on this blog. Thanks for coming along!