There is an old 3 X 5 index card in my day timer. The barely legible writing faded. Much like other memories of that time, distant, until something stirs them. The year was 1994, I had found a strategy that made sense to me. I was 10 years into my career. I had finally found a stock strategy that made sense, and it worked! I studied for a year under an exceptional mentor. I was ready to begin employing the strategy with clients. The returns were outstanding.
I went to my best clients to explain the logic of my plan of action. There were a couple of dozen clients for which I felt the plan was appropriate. The 17th client on the list of 27, was Clancy. Clancy had been introduced to me by a friend who was leaving the industry. Clancy had recently moved back to Iowa, after working in Oklahoma for a couple of years. Clancy was an engineer, very analytical, and very interested in how things work. He studied his statements. We would schedule a two-hour call to review his annual returns. He was calculating the returns long hand!
One of the offshoots of our sessions was a commitment I made to Clancy to advocate for clients to have access to returns on their accounts. His suggestion proved successful. My pleas to the firm to follow his suggestion seemed to go unheard. My commitment never wavered, I continued to press the firm’s management to educate clients and provide the data necessary to help clients to make educated decisions on asset management. It seemingly fell on deaf ears, but I trudged on.
Years later the firm began to provide performance reviews for clients. My first access was when I became a Portfolio Manager, a discretionary account manager. Today, almost all firms provide this information to clients.
Some years ago, Clancy passed away. The long phone reviews were no longer. I did have the great pleasure of meeting and working with his family - wonderful people as well. One of his sons was an architect. A nice fellow. His wife was lovely, and the family is just terrific.
A few years later, I had become an avid fly-fisherman. I discovered the architect was an angler as well. We often spoke of fly-fishing, and fishing in general. We just didn’t speak in detail. I invited them to come to my home in Wyoming this summer. What treat for me, and Dina.
This was to be our first opportunity to meet in person. It was not a surprise to me to find them so wonderful. Remember, I was very fond of Clancy.
They were up early, and off to fish with my favorite guide Walt. They had a splendid day. The next day, we hiked into the backcountry to fish the Snake River. It was breathtaking for them, as it had been for me. They seemed to enjoy the fishing as much as I did. They were so impressed with the river, the fish, and the environment. I felt their enthusiasm. I learned that his father, Clancy had been an avid angler, and fly tier. It was not a great surprise that Clancy had been a tier as well. His attention to detail was clear in his approach to investing.
That evening they shared a gift with me. They presented me with six flies Clancy had tied. I was speechless, a tear came to my eye. I have seldom been more touched by an act of gratitude. Clancy touched me, through his son and his son’s wife in a way that could not have been seen when he was living. I had not begun to fly fish when he was living. They were amazing people like he had been. No surprise there. Even now, trying to express this touching gift seems inadequate to how feel about these people. Thank you so much John and Karen. This is why I am still doing what I do. The people. Thank you, Clancy!
The next big trout I catch, will be named Clancy…
Enjoy the day…r2
