“In investing, what is comfortable is rarely profitable.”
– Robert Arnott
Comfort is safety: it’s a stroll through a childhood meadow which will always be there, a seat at your favorite restaurant where the waiter stops at your table for a quick hi before punching in your regular order; it ends with a very predictable tip.
But comfort can be deceptive in many ways. Your favorite restaurant could close down. The meadow could be razed to build condos. That product that you always thought would stick around (postage stamps, landlines) may be replaced by something entirely different (instant messaging, smartphones that people use primarily to instantly message each other). Of course, daring to take a chance on a greater future and the limitless applications of new technology can come with its own set of risks. However, the higher the risk, the bigger the potential payback.