Tom Daulquist
One of the mentors that I have had the privilege to learn from is Tom Daulquist. Tom works for Royal Bank of Canada, (RBC) as a financial advisor. I met Tom through my dad who also has been mentored by him for over a decade. He graduated with an Archeology degree and soon found himself looking for any job that could make ends meet. He ended up in financials and soon made his way to work under the right people to lead him to working as a financial advisor for the past 35 years. His story struck me first because he left college and choose a completely different career path than he had studied for. He also was obedient to Christ when his plans changed and he followed this calling to RBC. I find it comforting to know that God was constant in his life as a rock and trustworthy.
The last time that Tom and I spoke I called asking about the stock market. One of the stocks I had been watching had come out saying that they were going to release a large portion of new stock at a fixed price which caused the current price of the stock to change. I found it strange however, that the stock's price was less than the price of the new shares being sold. I asked him whether or not I should buy in knowing that the price would reach the newly released stock in the future. His answer took me by surprise, he told me yes, that may be a good idea, but the new release of stock tells you something about the problems that this company is having. They need capital and they need it quickly. Past IPO stock releases can show weakness in the future of a company and this alone would deter most long term growth stock investors like himself.
I learned several things from the rest of our conversation regarding this topic but I want to highlight two. The first is that as a long term investor you need to reach an understanding within yourself to trust your picks and hold off from selling over the longterm despite the losses you may accrue during that time period. This develops patience. The second is that you don't get it right even some of the time. It is important to spread yourself out and become diverse to keep yourself from losing everything if your single bet doesn't do well. The potential of a dollar invested may be better invested in a different place.
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