Every year my father, my two sons and I go on a quail hunt here in Georgia over the holidays. It is something my dad and I used to do when I was younger, and now that my boys are getting older and becoming more seasoned outdoorsman, the hunting party has expanded. In addition, our young black lab Tank is becoming a pretty good bird dog. It is a great opportunity to get out of the hustle and bustle of the holidays, spend time outside, and (if we have a good hunt) put some meat in the freezer.
Quail hunting, as you can imagine, carries with it inherent risk. And as far as hunting goes, it is one of the more dangerous types of hunting. You have dogs in the field pointing and flushing the birds and multiple hunters supporting the dogs, at the ready for a bird to fly into their shooting lane to take a shot. What makes this especially dangerous is the unpredictable behavior of the quail because when they are flushed by the hunting dogs, you have little control of the direction the birds fly- often flying between hunters at about eye level. So, you better be "very very" careful when pulling the trigger to avoid inadvertently shooting your guide, another hunter, or a 4-legged friend. The golden rule is, it is better to not take a shot than to take a dangerous shot.
When we arrive at the property for the hunt, the first order of business is to find your guide, meet your dogs, and sign the WAIVER. The waiver includes liability release of the property owner if you get hurt or shot while on the property and includes a very clear responsibility of the hunter if one of the hunting dogs is accidentally shot. This amounts to $5000 and all vet bills. You can tell that whoever created the waiver did so based on past events, did their best to think of anything and everything that could happen out in the field, and included terms to protect themselves, the dogs, and the hunters.
Upon all of us signing the waiver it was time to go hunting.... I grabbed my hat, my boys, my father and we walked out of the cabin. I stepped off the porch to head to my truck and get ready for the hunt and get my dog Tank. And low and behold, I stumbled somehow coming off the porch, and twisted my ankle. Twisted my ankle!!! No less than 30 seconds after I signed that dumb waiver that made no mention of twisted ankles. I was so focused on making sure we were all careful not to shoot one another I forgot to watch my step.
My first thought was my hunt was over before it even began (because I couldn’t walk) and my second thought was a quote I recently heard from Morgan Housel his book The Psychology of Money”. In his book, he writes...
“Risk is what is Left Over when you think you’ve thought of everything”
Here we are in 2025. A new year, new goals, new political landscape and a new calendar year to pay attention to our finances with regards to Market Returns and Asset Protection. As an Advisor this is the time of year when people begin to ask what the forecast is for the market, if they need to increase their insurance coverages, or do some estate planning.
We have had a pretty good run over the last couple of years and most economists and portfolio managers are fairly optimistic about the next 12 months. However, I think it is important to keep things in perspective and remind ourselves that 20% returns do not happen year after year and risk is always present, even if you think you have thought of everything. And it can be easy to lose sight of that when real estate, markets and cryptocurrencies are growing in value. Twisted ankles happen.
Luckily, I was able to walk it off and spent the next 3 hours enjoying the outdoors.... Chasing quail with my father, my boys and our dog Tank. It was a successful hunt, and outside the twisted ankle at the onset, went off without a hitch. We got our birds safe and sound and had a lot of fun doing it. My hope is we all have a similar experience this year with our finances, although I am sure there will be some bumps along the way.
Happy New Year!
Ed
William Edward Inman, Jr., Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Ashford Advisors, Inc. is not an affiliate or subsidiary of PAS or Guardian. Ashford Advisors, Inc. is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. CA Insurance License Number - 0H26101, AR Insurance License Number - 7949786.
7528564.1 (Exp. 1/2027)