Porter understood the importance of investor psychology as it pertains to successful outcomes well before our industry began to embrace that idea. When it comes to investing in the stock market, she writes, “You must have the emotional temperament to own stocks.” She goes on to say that “if you are so nervous about owning stocks that you can’t take a trip without worrying about what is happening to your stocks, stay out of the market.” Yes, indeed.
After the publication of Sylvia Porter’s Money Book, she remained prolific for the rest of her life. Her last book, Planning Your Retirement, was published just after her death in 1991 at the age of 77.
It’s puzzling to me why I’ve never heard anyone in the financial services industry talk about Sylvia Porter before. How can a woman with that long of a career—a woman who boldly entered a predominantly male profession, who wrote scores of books and articles, who spoke truth to power, including to a senator and a secretary of the treasury—how can a woman like that barely (if ever) be remembered by our industry?
I’ve concluded that the answer to my question is an obvious one: The financial services industry is still male-dominated and still prefers to remember the accomplishments of other (mostly white) men. But for me, for my practice and for my clients, I want to change that. I want to start celebrating the women of finance—both the great women of today as well as the great women of yesterday. You have to do a little digging to find them, but they’re there. Waiting to be (re)discovered, as Sylvia Porter was for me.
Bray Creech, M.B.A., CPA, is a certified financial planner professional with Joel Adams & Associates with securities offered through Raymond James Financial Services Inc. He can be contacted at 828-251-9700 or [email protected].