Passion. Excellence. Dedication. Intensity. Caring. Drive.
These describe some of the thoughts I had after watching a number of episodes of “Chef’s Table,” a Netflix series which profiles some of the world’s top chefs.
I highly recommend watching Chef’s Table. The videography and storytelling is outstanding. Each episode tells the story of an individual chef and their restaurant through interviews, vivid photography of the food they cook and where it comes from.
These are not just the best chefs in a city, state or country, which would all be great accomplishments. These are chefs who are so passionate, driven, talented and inspired that they have become the very, very top in their field. These are the top 1% of the top 1% of all the chefs in the world.
Watching these episodes has led to conversations between my wife and I of how each of these chefs has a unique and interesting story of how they got to where they are now. Chef’s Table tries to explore the drive, successes and failures, and life events they each have experienced, all of which contribute to their remarkable level of success. The producers of these episodes help’s us viewers begin to understand the passion that motivates each chef to excel.
I have thought about the qualities these chefs display and the commonalities which exist in me and my firm. While I’m certainly not stating we have reached anywhere near the recognition or stature that these individuals or their restaurants have, there are lessons to be learned.
Most of these chefs knew early in their life they had a passion for food. One shared how they learned to cook while under their grandmother’s kitchen table. And they were driven and motivated, regardless of various obstacles. Since a teenager, I have studied personal finance and knew that one day I would become a financial advisor. I just didn’t know what the route would be. I have read the Wall Street Journal almost every day since I was 16, while working at a public library. I have always been very focused and motivated.
A common theme among these chefs is the desire to learn and create, but to do it differently than others were doing. They do not accept the status quo or conventional wisdom. When I decided I wanted to transition from a traditional CPA to become a financial advisor in 1999, I then spent four years learning, talking and voraciously reading investment books, to find the best investment philosophy for myself and my clients. Only then did I form the financial firm we have today. I did find a philosophy, which we still adhere to today. We challenge conventional wisdom and don’t follow Wall Street thinking, which we feel is a significant benefit for our clients.
Many of the episodes show the time and effort that these chefs spend in obtaining the outstanding ingredients which go into their meals. They walk the food markets and talk to vendors. They travel to farms, learn about new growing techniques and discuss the finest details. They smell and taste parmigianio (parmesan) cheese and fresh baked bread. It may make you immediately want to go to a high-quality food or produce market.
We strive to take the same type of care and dedication in making investment and financial recommendations for our clients. We want to understand your personal needs and goals. We are continually learning, questioning, reading and adapting to an ever changing world.
The chefs’ goal is to select the highest quality ingredients, which may be the most expensive, because these outstanding products will lead to the best dining experience. These are extremely expensive restaurants and the food cost is less of a factor in the overall experience. These chefs know that top quality ingredients are vital, regardless of their cost.
In stock investing, pursing the opposite is true. Research shows that lower investment costs are highly correlated to better long-term financial success. We understand this. Most of traditional “Wall Street” does not. We implement our stock investment strategy by combining high quality stock mutual funds, with strong performance records, which also have very low costs.
One key difference between our firm and these restaurants is accessibility. They only have one restaurant location and very limited space, so distance can be an issue. These restaurants are hundreds of dollars per person, so very few people can afford to experience them. We are based in suburban Detroit, but advise clients who live all over the country. Where you are located is not an issue. We work with multiple generations of many families, with varying amounts of wealth. If you think and save long-term and believe that our advice will be valuable to your financial future, we can have a working relationship.
We hope that you try watching Chef’s Table.
While you may never eat at one of these restaurants, seeing their passion and how they strive for excellence is truly inspiring.