Blog post #420
Everyone defines success differently.
Success in work, success as a financial advisor, success in life, success as a parent or as a football coach.
Each has a different criterion for accomplishments, goals and success.
My business partner, Keith Rybak, has reached a level of success and accomplishment across many of these areas that are worthy of recognition.
Within our firm, Keith is responsible for the day to day trading, financial rebalancing and working with me on strategy, as well as providing personalized advice and guidance to clients.
Outside of the firm, Keith, along with his wife Ann, are raising their “team” of 5 children, four boys and their daughter, Olivia, who range from almost 9 to 17. Each is different and unique.
On top of all of that, Keith has been coaching youth football for the past 10 years for the Walled Lake Braves football organization, of which Keith also serves as the organization’s President.
While teaching the players values, discipline and sportsmanship, his teams have had a record of 27-2 over the past three seasons. They have won 2 league “Super Bowls,” including the most recent season, in which they finished an undefeated 9-0 on their way to a Championship season. In our view, he is Coach of the Year!
|The Braves after they won the “Super Bowl” this season, 22-0, at Wayne State University’s stadium, capping off a 9-0 season. Coach Rybak is in the back row, upper left|
Keith feels his football coaching success, similar to progress WWM has made with our clients, is based on preparation and focusing on the long term. Keith has worked with the same set of coaches during much of the past 10 years. WWM has had very little staff turnover, as we have had only one person leave our firm since 2009, who wanted to change careers.
Preparation has been a vital aspect of their football game plan. Keith feels that no other coaching staff was more prepared than his staff. He sees a similarity between coaching, which requires practice and a game plan, and the individual investment plan that we develop for each of our clients, which we call an Investment Policy Statement (IPS).
His coaching staff develops a philosophy each year. For 2019, that philosophy was to build a fearless culture, so that behind every fearless player is a fearless group of coaches, who love and care about their players so much that they refuse to let them be anything less than their best.
I have seen the time, dedication and care that Keith puts into his coaching, and I’m sure that he and his coaching staff strive to help their players, 7th and 8th graders this year, be their best and develop as strong teammates.
Just as we as financial advisors need to adapt to changing financial markets and life events, Keith’s teams would have to evaluate many factors before and during a game, and be able to react, adapt and calmly make quick and decisive decisions.
They would identify their strengths and weaknesses to formulate a game plan. Before and during each game, they would assess their risk. Based on their players and the opponent, should they run or pass more? In his league, passing was more risky than running. How strong was their defense? Did they need to score 4 touchdowns or only 2?
How much risk did they need to take? This is the same question we often discuss with you, our clients, as we evaluate and provide you with financial and investment guidance. How much exposure to stocks do you really need? Do you have the patience to hold small value stocks, during periods when they may underperform other asset classes, for the expected longer term reward?
Keith and his coaches worked with their players from mid-summer through late October. They teach them plays. Emphasize conditioning. Develop teamwork. They started every practice by chanting “Win Today.” This was a simple and powerful message, that is applicable to all aspects of life. Their team motto stresses that no other team will out work them, no team will out smart them, they will have better practices, better teammates and “most importantly, no team will have more fun than us.”
An example of the fun that Keith brought to his team, and the league, was helping to organize a special day playing at Michigan Stadium earlier this fall. Various age groups of the organization played all day, while their families and friends got to share in the excitement and photo opportunities. As you can see below, Keith and his son, Austin, had a triumphant day at Michigan Stadium, winning 37-0.
The coaches developed game plans, and based on their record, they clearly executed it very well. At the same time, just as in investing, Keith knew that every play in a game does not work out like they designed it or practiced it. Sometimes things don’t work out as planned.
Keith knew they had the right strategy, but that the outcome would often be different. It still made the strategy correct. Similarly, we are confident that having a globally diversified stock portfolio is the proper long term strategy for most of our clients. Even though International stocks have underperformed US stocks for a period of years, we still feel that having a globally diversified portfolio is the proper long term strategy. Sometimes you can have the right strategy, it just doesn’t work out every play, or every year.
We are quite proud of the effort and results that Keith has had as a football coach for these young athletes. We are confident that they will be better in life, as well as in future athletics, as a result of Keith being their coach.
We are also confident that Keith’s same dedication to planning, strategy, patience and effort will benefit you as a client of our firm.
And just so you don’t have to worry, Keith is not planning to leave his day job as a financial advisor for a football coaching career.
If you want to talk to a winner, on the field and off, give Keith a call.