THE FINANCIAL PHILOSOPHER

Irrationality: The Most Magnificent & Unique Trait of Being Human

"The supreme paradox of all thought is the attempt to discover something that thought cannot think." ~ Soren Kierkegaard

Understanding yourself as a human is at the root of self-knowledge.  All kinds of success -- not just financial -- derive from it.  Perhaps the greatest and most distinctive trait of being human is the capacity to reason, to be rational.  Or could it be that what makes us unique in the animal kingdom is the capacity to stretch beyond reason -- to knowingly and purposely act irrationally.

My favorite investing and economy blog, The Big Picture, recently shared a wonderful speech, The Uniqueness of Humans, where Stanford primatologist and anthropologist, Robert Sapolsky, shares his observations of (and insights gathered from) his study of baboons. [I'll provide another direct link to the video of this entertaining and educational speech at the end of this post.]

Essentially, Sapolsky shares that humans have the same fundamental genetic makeup of all animal species.  Animals, especially baboons and chimpanzees, exhibit many of the same behaviors, such as aggression, theory of mind, empathy and cultural transmission, as human's do.  Humans, however, present these behaviors in unprecedented ways, such as passive-aggression and non-reproductive sexual behavior.

What struck me the most about the speech is how Sapolsky ended it, which was framed by this abstract phrase:

The less it is possible that something can be, the more it must be.

In other words, humans are not only capable of holding contradictory notions in their head, but even more striking, the fact that something is contradictory or seemingly impossible is the very reason it becomes a moral imperative to act on it.

Sapolsky used an explicit example of this behavior that is unique to humans by describing a Nun who ministers to prisoners on death row -- some of the most frightening, deplorable human beings on the planet. When asked why she ministers to these men, she simply replies, "the less forgivable the act, the more it must be forgiven.  The less lovable a person is, the more you must find the means to love them."  The Nun's behavior is irrational but as Sapolsky worded it, "magnificent," and the basis for a "moral imperative" to act.

...humans have the capacity to simultaneously believe in two contradictory things." ~ Soren Kierkegaard

On a side note, I thought it interesting that Sapolsky humbly admitted that his own brilliant mind could not rationalize the Nun's behavior, especially because, in his own words, he is a "strident atheist."  I found this to be a contradiction of contradictions:  This "magnificent" irrationality, which is a defining human ability -- the capacity to leap beyond the finite bounds of rational thought -- is absent in his own life. 

Furthermore, in his speech, Sapolsky used a quote from Soren Kierkegaard, who is famous for his "leap of faith" idea, which essentially says that the rational mind cannot believe in God; therefore, one must go beyond rationality to believe -- to have faith.  It is futile, therefore, to try and think of something that thought can not think.  One must simply have faith.  Kierkegaard, by the way, believed in God and was a Christian (although not in the conventional sense at the time)...  He also believed that one individual's life can impact the entire world -- another concept that Sapolsky seemed to admire but is not quite able to believe. 

If not for this magnificently irrational capacity, however, Kierkegaard, and many other important figures, may not have ever succeeded (or may not have even tried) in their most important contributions to mankind.  Some of these remarkable individuals that instantly come to my mind include Rene Descartes, Walt Disney, Thomas Edison, Martin Luther King, Jesus Christ, Harriet Tubman, Viktor Frankl, Gandhi and the list goes on...

Regardless of one's religious faith, or more specifically, regardless of the level of one's intellectual brilliance, we all limit our potential as individuals if we stop at the bounds of our own rationality.  Certainly there are implications and applications of this in the financial world, specifically with investing!  For more reading on subjects similar to this one, follow the links to my "related" posts below the video link...

Check out the video, if you have 30 minutes, and let me know what you think!

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Related:

We Are All Naive Scientists

Finding God in Behavioral Finance

Mind vs Brain Part I: We are only human

Thoughts on Taoism, Rip Currents and Market Cycles

Success in any endeavor will likely emanate from a core philosophy, which is then carried out by specific actions or, in many cases, inaction...

"Thus what we gain is Something, yet it is by virtue of Nothing that this can be put to use." ~ Lau Tzu

A significant piece of a core philosophy, if you've not already noticed, that is implicitly and explicitly employed here at TFP, is the Taoist philosophy that may be expressed in modern terms, such as "less is more" and "going with the flow," which are woven into to the profound Taoist respect for nature:

• The pliable reed bends in the strongest of winds, the hardened tree breaks.
• The weak does not contend and so no one in the world can quarrel with it.
• The high and low incline toward one another; therefore the lowest position is the strongest -- the ocean is stronger than the rivers because it is in the lowest position -- all rivers flow to the ocean.
• The weak becomes the strong; however the strong becomes the weak.  Without the one, there would not be the other. 
  
• Everything has its natural cycle and there is no changing this cycle; therefore it is not wise to go against nature -- one should flow along with it.

"In the world there is nothing more submissive and weak than water.  Yet for attacking that which is hard and strong nothing can surpass it." ~ Lau Tzu

I enjoy teaching my two young sons about nature (and life) when we visit the beach, which is only eight minutes from my house.  Living on the coast of South Carolina, my favorite metaphor for passivity (not fighting nature -- going with the flow) is the ocean, specifically rip currents.  Water is inviting and provides peace and comfort, yet its strength is tremendous and worthy of great respect.

As the immediately preceding quote from Lau Tzu suggests, water will (sooner or later) break anything that rigidly stands against it; however, offering no resistance to it almost guarantees survival... 

Take a look at this illustration of a rip current from Howstuffworks:

 

Unfortunately and tragically, the immediate panic reaction of the uninformed swimmer is to swim directly toward the shore  (seen at the bottom of the image) -- where there is perceived safety -- yet this is the most dangerous escape route.  The safest escape is to swim away from (or perpendicular to) the shore -- the least likely of routes the uninformed swimmer would consider. 

Swimmers do not drown as a direct result of the rip current itself -- they drown from the exhaustion of unknowingly going against nature -- and in some places in the U.S., more people die each year in the face of rip currents than from thunderstorms, hurricanes and tornadoes combined.

"Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes." ~ Jesse Livermore

Bringing the point back to the nature of financial markets, the unknowing investor can suffer tremendously by acting as if the markets are not cyclical -- as if history does not rhyme -- as if "things are different this time." 

The truth is that markets will always revert to the mean -- what goes up, must come down and vice versa -- and the denial of this is where investors make their most fatal mistakes.

The quiet but powerful message delivered by ancient philosophy, whether it is Western or Eastern, is that human behavior does not change.  If Lau Tzu observed and warned of greed more than 2500 years ago, then a reasonable person may assume that human behavior is not likely to change any time soon. 

The rip currents of financial markets, and life itself, will claim many casualties as a result of inexperience.  This inexperience, however, is not equivalent to a lack of academic knowledge -- it is a lack of self-knowledge, humility, and a lack of respect for nature -- it is the lack of willingness to bend like the reed.

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Suggested Reading: Tao Te Ching (Penguin Classics)

Related Post: Mind vs. Brain Part II: Priorities, Pursuits & Productivity

Related Page: Quotes on Contentment

Things We Can Be Sure Of

As we discussed at the beginning of this year, hope alone is not a prudent basis for planning or investing; however, it is often the genesis of great things.

"You must be the change you wish to see in the world." ~ Mahatma Gandhi

In the face of populist rage against large financial firms and corporate executives -- an attitude that I believe feeds upon itself and makes an economic recovery all the more difficult -- I stumbled over a wonderful ray of light amidst the pessimism, uncertainty and rage -- a recent BusinessWeek article, written by Jack & Suzy Welch, called "Put Your Rage on the Back Burner."

Within this short article, I found many reasons for hope now -- not necessarily hard evidence of an economic recovery in the short-term, but refreshing faith in the positive undercurrents that exist in spite of (and especially in) difficult times:

These are things we can be sure of:

...right now as you read this, there are hundreds if not thousands of geeky, brilliant engineering wonks sitting in their dorm room at MIT and Stanford, not to mention campuses around the world, oblivious to the weather as they pour their hearts into cool new ideas.

...legions of people out there aren't frightened by the economy.  They're called entrepreneurs.  And challenges don't make them surrender; they make them fierce.

...right now, in companies large and small, new and old, teams of employees are huddled in meetings, working their butts off to figure out how to save their organizations -- and the jobs of their coworkers.

...in laboratories around the world, medical researchers are putting in their 18-hour days as they try to unlock the human genome and create cures beyond imagining.

...on a warm spring day, a mother and father will hold back tears as they watch the first member of their family graduate from college.  You can be sure countless other parents will feel that same pride.

You can be sure that for every jerk who undermines business with his compromised ethics there are 99 decent hard-working people who wake up every day determined to do right...

You can be sure that this summer there will be a new song on the radio that is so catchy and fun you can't get it out of your head...

Can you think of other things that we can all be sure of now -- things that are not being reported by the mass media -- those things that give us hope and faith in humanity?  Have you noticed (or are you doing) positive or promising things in your corner of the world?  If so, I'd love to hear about them...

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Related Post:  Hope is Where We Begin

Why the Blind Can 'See'

"I can see, and that is why I can be happy, in what you call the dark, but which to me is golden. I can see a God-made world, not a man-made world." ~ Helen Keller

Have you ever asked a person who was born physically blind how they define "beauty?"  If not, what do you think they would say?  Is it a fair assumption to make that those of us with "sight" might actually have a greater potential for error in judgment and a more distorted perception of reality than a person without sight?

In my experience with (and observations of) investing and personal finance, I have recognized a high correlation between exposure to media noise and poor judgment.  I have realized that the greatest value I am able to provide to clients is not my investing and personal finance skills and knowledge, but a logical, non-emotional perspective on their money.

"...your brain uses information from the areas around the blind spot to make a reasonable guess about what the blind spot would see if only it weren't blind and then your brain fills in the scene with this information.  That's right, it invents things, creates things, makes stuff up!  It doesn't consult you about this, doesn't seek your approval.  It just makes its best guess about the nature of the missing information and proceeds to fill in the scene..." ~ Daniel Gilbert

When it comes to money and investing (or any aspect of life), invariably a "blind spot" of some kind will exist.  Naturally, our imagination will fill in the empty spaces of this blind spot based upon incomplete information.  And, as we discussed in my recent post, We Are All 'Naive Scientists', not only is this information incomplete but it is often based upon false premises.

Often, these false premises come from our physical senses, rather than our "mind's eye."  The ultimate in paradox is that our vision has great potential to blind our better judgment -- and a person who is physically blind may have a better sense of reality than those of us with sight!

I'll leave you with this final thought:  Which investor, left to their own devices, do you believe would likely achieve higher long-term investment returns -- the investor who watches and listens to every turn of the stock market on CNBC or the investor who can physically see and hear nothing?

Can We Help Being Deceived?

"If I can assign names as well as pictures to objects, the right assignment of them we may call truth, and the wrong assignment of them falsehood." ~ Socrates

How can we be sure that we are making "the right assignment?"  The problem is that we often make assignments and assessments purely on the basis of what others have told us or what we have read in various news media.

We also accept the definition of, and adopt as our own, certain words, phrases, terminology, and symbols that are delivered to us by social conventions and all forms of media.

Is this prudent behavior?  Just because something is widely accepted or is intelligently communicated should one, by default, accept its validity?  We do it every day...

Today, I would like to share a portion of one of my favorite Socrates dialogues, where he is applying his famous "Socratic Method," as written by Plato, in Cratylus:

SOCRATES:  What is the function of names, and what good do they accomplish?
CRATYLUS:  I think, Socrates, their function is to instruct, and this is the simple truth, that he who knows the names knows also the things named.
SOCRATES:  I suppose, Cratylus, you mean that when anyone knows the nature of the name -- and its nature is that of the thing -- he will know the thing also, since it is like the name, and the science of all things which are like each other are one in the same.  It is, I fancy, on this ground that you say whoever knows names will know things also.... Do you think that he who has discovered the names has discovered also the things named; or do you think inquiry and discovery demand another method, and this belongs to instruction?
CRATYLUS:  I most certainly think inquiry and discovery follow this same method and in the same way.
SOCRATES:  Let us consider the matter, Cratylus.  Do you not see that he who in his inquiry after things follows names and examines into the meaning of each one runs great risks of being deceived?
CRATYLUS:  How so?
SOCRATES:  Clearly, he who first gave names, gave such names as agreed with his conception of the nature of things.  That is our view, is it not?
CRATYLUS:  Yes.
SOCRATES:  Then if his conception was incorrect, and he gave the names according to his conception, what do you suppose will happen to us who follow him?  Can we help being deceived?

What were you thinking about when reading this dialogue?  Personally, I imagined a modern day Socrates and Cratylus strolling down the street and catching a glimpse of CNBC on a television monitor in the  window of Circuit City.  They stop for just a moment to watch and listen to some commentary on the economy and stock market and Cratylus asks Socrates if he thinks he should follow the "advice" of the financial media pundits.  From there, Socrates delivers his dialogue...

What are your thoughts?  As Socrates asked Cratylus, "Can we help being deceived?"

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Related Philosopher Pages: Socrates, Plato

Reflection: What do Investors really seek?

As an investor, if you were offered an average rate of return, of say 8% annualized, in exchange for lower volatility and lower relative stress, would you accept this offer? 

Or, if you are a trader with a passion for active investing, would you still be a trader if you were paid only a modest salary with a small cost of living increase each year, and no chance of bonus?  How about if there were no money involved at all?  Would you still enjoy it?

I'll end my week-long run of Uncommon Wisdom with the same philosopher it began, Blaise Pascal (1623-1662):  

A given man lives a life free from boredom by gambling a small sum every day.  Give him every morning the money he might win that day, but on condition that he does not gamble, and you will make him unhappy.  It might be argued that what he wants is the entertainment of gaming and not the winnings.  Make him play then for nothing; his interest will not be fired and he will become bored, so it is not entertainment he wants.  A half-hearted entertainment, he must delude himself into imagining that he would be happy to win what he would not want as a gift if it meant giving up gambling.  He must create some target for his passions and then arouse his desire, anger, fear, for this object he has created, just like children taking fright at a face they have daubed themselves.

So which is it:  The "entertainment of gaming" or "the winnings" that you seek?  Perhaps these market conditions will have many investors and traders seeking the alternative choice of passive investing...

What are your thoughts?

Thoughts on the Law of Attraction

"Sometimes your joy is the source of your smile, but sometimes your smile can be the source of your joy." ~ Thich Nhat Hanh

Do our thoughts determine our experience or does our experience determine our thoughts?

The Law of Attraction, while not a scientific law per se, is generally accepted to mean that "a person's thoughts (conscious and unconscious), emotions, and beliefs cause a change in the physical world that attracts positive or negative experiences that correspond to the aforementioned thoughts, with or without the person taking action to attain such experiences."

In simple terms, "you get what you think about; your thoughts determine your experience."

Where my belief systems part from this quasi-scientific law, or perhaps where its interpretation becomes abusive, is the general assumption that "good things happen to good people" and, conversely, "bad things happen to bad people." 

I especially find it difficult to believe that people who experience tragedy, adversity and suffering have essentially earned their fate by something they did or because of some negative act or occurrence associated with that individual.

Did the citizens of New Orleans earn the devastation of Hurricane Katrina?  Did the Jews deserve the Holocaust?

"Men often become what they believe themselves to be.  If I believe I cannot do something, it makes me incapable of doing it.  But when I believe I can, then I acquire the ability to do it even if I didn't have it in the beginning." ~ Mahatma Gandhi

While I obviously do not buy into some interpretations of the Law of Attraction, I do believe that our attitudes toward life can create self-fulfilling prophecy and, in this sense, "like attracts like," both negatively and positively:

If we believe that our dreams cannot be fulfilled, then we will not make an attempt to make our dreams a reality and, therefore, they will not come true.

If we pursue meaning as a destination in our lives, we are likely to be energized by hope and to be fulfilled by the pursuit of meaning itself, whether any particular destination is reached or not.

If we perceive money to be scarce, we are less likely to take risks with it and will hold our money closer to us; thereby, hindering our ability to attract it.

If we perceive money as abundant, we are more willing to take more risk with it and to give it to others, which increases the potential for money to grow and for others to realize its abundance; thereby, making it abundant.

If we share ourselves and our unique gifts with others, we create the momentum of giving that goes beyond ourselves, and this momentum consists of others sharing with others and others sharing with us.

If we attach a positive meaning to our suffering, rather than dwelling on the suffering itself, we enable ourselves to move beyond it.

If we are fearful of suffering, then we are already suffering.

If we feel that we are unattractive, then we have already made it so.

If we like ourselves, then we become more attractive to others.

I believe the Law of Attraction works to the degree that we choose to make it work, which is why I lean more toward the idea of self-fulfilling prophecy.  While I consider myself a man of faith, I do not believe our lives are completely pre-destined but that we are given unique gifts and a certain capacity, the potential of which can only be fulfilled (or limited) by our self.

What are your thoughts and experiences on the Law of Attraction?

Greed Finds a Way

"The ignorant mind, with its infinite afflictions passions, and evils, is rooted in three poisons:  Greed, anger, and delusion." ~ Bodhidarma

After reading news of the US Treasury department's proposal for "the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression," it really left me scratching my head...

The plan, as communicated by Treasury Secretary Henry Paulson, would change how the government regulates thousands of businesses "from the nation's biggest banks and investment houses down to the local insurance agent and mortgage broker."

What's more, the U.S. Senate Banking Committee said the proposed plans are "not even close" to resolving the financial crisis...

Who is the greater fool?

I do not expect logical thought and government actions to be included in the same sentence but I can not help myself from asking a few logical questions to remind myself of my own sanity in the face of poor judgment chasing poor judgment:

• Greed always seems to "find a way."  Can it be contained with government regulation? Has it ever been contained?  Does greed not always manifest itself into different forms?
• Do politicians really believe that they can make lasting "change" or are they just reacting just to prove they are "doing their job?"
• Have we forgotten that the current crisis was largely a result of greed finding money through derivative sources?  Those corporations and institutions wishing to find capital found their way around traditional sources, such as banks, and found venture capitalists, hedge funds, various secondary markets, and complex debt structures more than willing to fill their hungry appetites.  Won't greed just find another way, as it always does, to find what it wants after any forthcoming "rules" are established?
• Does government intervention, as with the Bear Stearns case, encourage more risky behavior or discourage it?  Does Fed intervention keep financial markets "orderly" or does it prolong an agonizing end?
• Is the capitalist structure not sufficient enough at correcting its own behavior without "help" from the government?
• Are there really that many "unwilling participants" or "innocent bystanders" out there that may be deserving of a "rescue" in the wake of financial turmoil?

Here's another thought worth noting:  As I was perusing The Wall Street Journal this morning and shaking my head at the foolish games being played between the federal government and financial institutions, I found a quite interesting article that reminded me that greed never really dies and will do whatever it can to survive: 

Enron's Skilling Attempts to Reverse His Guilty Verdict

At a minimum, I should not be surprised at the fallibility of human emotion but I will always remain fascinated by it, especially by the power and clever tenacity of greed...

Perhaps some of you readers can help me rationalize this or perhaps I would be wise not to look for reason where there is little or no reason to find.  What are your thoughts?

TFPAuthor, Kent N. Thune, QPFC, is the President and founder of Atlantic Capital Investments, LLC (ACI), a 'fee-only' financial planner and Registered Investment Advisory firm located in Mount Pleasant, SC.

 

Weekend Wisdom: Frog in a Well

"We think too small, like the frog at the bottom of the well.  He thinks the sky is only as big as the top of the well.  If he surfaced, he would have an entirely different view." ~ Mau Tse-Tung

I'm going to do something today that I do not do often enough here at The Financial Philosopher:  Write a blog post with no real preparation...

First, I must comment on the action this week in financial markets, which is a disappointing yet fascinating display of human behavior.  All the activity and frantic motion, bordering on panic, only reminds me of what I have learned over the last several years of managing investments; studying the markets and personal finance; working with individuals to plan their financial future; starting my own business; becoming a father; and "stumbling upon" the profound power and wisdom of ancient philosophy: 

• The more I learn about the markets and the human behavior that comes with it, the more comfort and peace I feel with the grounding wisdom that philosophy provides.
• As the world's focus narrows on money, my focus actually widens to see the big picture.
• As people wonder, "What should I do?"  I find resolve in answering the same question to myself:  "The same as I've been doing all along."

As I freely write my thoughts on the week, one theme seems to be emerging:  When we are limited in our vision, it just may be that we are limiting it ourselves, whether we know it or not. 

Just like the frog in the well, we are limited by what we see in our nearest surroundings.  When our surroundings (i.e. stock market turmoil, personal relationship problems, career issues, the presidential election) are troubling we tend to shrink as our perception of the problem widens.

If we adjust our perception appropriately and consciously and choose to step away or, in the frog's case, climb out of the well, we will clearly see that where we are (or were) is something small and insignificant.

Climb out of that well and have an enjoyable weekend...

Wow! That post only took me 10 minutes to write!  Let me know your thoughts...

TFPAuthor, Kent N. Thune, QPFC, is the President and founder of Atlantic Capital Investments, LLC (ACI), a 'fee-only' Registered Investment Advisory firm located in Mount Pleasant, SC.

Philosophy to Live By... A Personal Journey

"I do nothing but go about persuading you all, old and young alike, not to take thought for your persons or your properties, but and chiefly to care about the greatest improvement of the soul.  I tell you that virtue is not given by money, but that from virtue comes money and every other good of man, public as well as private.  This is my teaching, and if this is the doctrine which corrupts the youth, I am a mischievous person." ~ Socrates

The preceding quote from Socrates does a fine job of capturing my purpose for The Financial Philosopher.  Today's post, inspired by a reader's email question, is about finding philosophical ideas or quotes that may help shape your value system or even the way you live...

I enjoy responding to reader email when possible but I found this particular request for information to be so challenging that I felt compelled to respond in the form of a post.  Here's the request:

I know you dislike lists but, in your opinion, what would be your 10 best philosophies you try to live your life by?

This challenge inspires a few preliminary thoughts: 

• I believe lists can be quite useful if they are created and used by (and for) the same person (i.e. A self-generated list to organize your daily activities). 
• If you are interested, here are my 10 Reasons to Avoid Lists.
• Creating a list of "10 best philosophies" is impossible for someone like me.
• Philosophy is an enormously broad subject with dozens of sub-sections and branches as there are also thousands of notable "philosophers." 
• Each individual should seek out wisdom that best suits their personal needs and value system.
• I suggest buying a book that introduces philosophy at the beginner's level and go from there.  I like The Complete Idiot's Guide To Philosophy: The Third Edition

With that, I will provide some of my favorite philosophical quotes that embody most of the ideas and virtues I have found to be useful thus far in my life.  Hopefully, you will find some of them useful in your own life or, at least, inspiring enough to look elsewhere for more "wisdom."  By the way, I have listed more than 10 "philosophies" but I am still leaving out many of my favorites... Also, I will not add my own thoughts to any of these words, primarily for the reason summarized in the first quote by von Goethe...

"All truly wise thoughts have been thought already thousands of times; but to make them truly ours, we must think them over again honestly, till they take root in our personal experience."  ~ Johann Wolfgang von Goethe

"Man acts as though he were the shaper and master of language, while  in fact language remains the master of man." ~ Martin Heidegger

"History does not repeat itself but it does rhyme." ~ Mark Twain

"True mastery can be gained by letting things go their own way.  It can't be gained by interfering."  Lau-tzu

"He who knows, does not speak.  He who speaks, does not know."  Lau-tzu

"Health is the greatest possession.  Contentment is the greatest treasure.  Confidence is the greatest friend.  Non-being is the greatest joy." ~ Lau-tzu

"There is no calamity greater than lavish desires.  There is no greater guilt than discontent.  And there is no greater disaster than greed."  Lau-tzu

"Money often costs too much." ~ Ralph Waldo Emerson

"If thou wilt make a man happy, add not unto his riches but take away from his desires." ~ Epicurus

"Have more than thou showest.  Speak less than thou knowest." ~ Shakespeare

"To make no mistakes is not in the power of man; but from their errors and mistakes the wise and good learn wisdom for the future." ~ Plutarch

"True wisdom comes to each of us when we realize how little we understand about life, ourselves, and the world around us." ~ Socrates

"The unexamined life is not worth living." ~ Socrates

"In character, in manner, in style, in all things, the supreme excellence is simplicity." ~ Henry Wadsworth Longfellow

If I were forced to choose one philosophical quote to lead my life, this would be it:

"Moderation, which consists in indifference about little things, and in a prudent and well-proportioned zeal about things of importance, can proceed from nothing but true knowledge, which has its foundation in self-acquaintance." ~ Plato

I enjoy "discovering" new pieces of wisdom I have not seen before and would love to hear some of your favorites...

TFPAuthor, Kent N. Thune, QPFC, is the President and founder of Atlantic Capital Investments, LLC (ACI), a 'fee-only' Registered Investment Advisory firm located in Mount Pleasant, SC.