Timely Advice
“The prudent see danger and take refuge, but the simple keep going and suffer for it.” (Proverbs 27:12 NIV)
“Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.” (Ecclesiastes 11:2 NIV)
These two admonitions have played out before us during this hurricane season. Many saw the danger and took refuge, sometimes a thousand miles away. Through the horror of the storms, countless feel-good stories have wound their way through news outlets and the internet. Stranger helping stranger. Hospitality and kindnesses. Decent people doing good things for others in need. And many people saved their lives.
“Give portions to seven, yes to eight,” the scripture says. Many have given a portion to more than seven or eight. That’s a good thing to do, but there is an intent to this proverb that goes beyond charitable generosity. The real intent of that scripture is economic. If followed, it could save undue stress. Ignoring it has exposed a weakness that didn’t need to be.
In the world of investments, advisors tout the concept of diversification. The idea is to invest in several different types of assets so that poor performance on one investment won’t wreck one’s financial security. Economists have received Nobel prizes for proving that exposure to enough asset classes can and does reduce risk without hurting returns.
“Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.”
We have learned over the past few weeks that a huge percentage of this nation’s oil refining capacity is bunched together in a rather limited geographic area that is highly vulnerable to hurricane damage. I am sure there are reasons for this, and some of them might be good reasons. But it just seems to me that prudence would dictate having better geographical diversification of such an important resource. Within a thirty minute drive from where I sit are two once-active refineries that were closed within the past twenty years in favor of capacity in some other locale. Maybe the refineries weren’t profitable enough in the short run, but it would sure be nice to have that capacity right now.
The writer of Ecclesiastes said something else. “There is nothing new under the sun.” Thousands of years ago this fellow knew what works and what doesn’t. Too bad when one generation passes away and another comes, the new kids on the block have to learn the same old lessons over and over again. The writers of the Book knew what they were talking about.
Lenny Cacchio
“Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.” (Ecclesiastes 11:2 NIV)
These two admonitions have played out before us during this hurricane season. Many saw the danger and took refuge, sometimes a thousand miles away. Through the horror of the storms, countless feel-good stories have wound their way through news outlets and the internet. Stranger helping stranger. Hospitality and kindnesses. Decent people doing good things for others in need. And many people saved their lives.
“Give portions to seven, yes to eight,” the scripture says. Many have given a portion to more than seven or eight. That’s a good thing to do, but there is an intent to this proverb that goes beyond charitable generosity. The real intent of that scripture is economic. If followed, it could save undue stress. Ignoring it has exposed a weakness that didn’t need to be.
In the world of investments, advisors tout the concept of diversification. The idea is to invest in several different types of assets so that poor performance on one investment won’t wreck one’s financial security. Economists have received Nobel prizes for proving that exposure to enough asset classes can and does reduce risk without hurting returns.
“Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.”
We have learned over the past few weeks that a huge percentage of this nation’s oil refining capacity is bunched together in a rather limited geographic area that is highly vulnerable to hurricane damage. I am sure there are reasons for this, and some of them might be good reasons. But it just seems to me that prudence would dictate having better geographical diversification of such an important resource. Within a thirty minute drive from where I sit are two once-active refineries that were closed within the past twenty years in favor of capacity in some other locale. Maybe the refineries weren’t profitable enough in the short run, but it would sure be nice to have that capacity right now.
The writer of Ecclesiastes said something else. “There is nothing new under the sun.” Thousands of years ago this fellow knew what works and what doesn’t. Too bad when one generation passes away and another comes, the new kids on the block have to learn the same old lessons over and over again. The writers of the Book knew what they were talking about.
Lenny Cacchio
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