Happy Birthday, Monks...
I've largely checked out of the markets today... It's Amelia's 8th Birthday...
Dear Fellow Traveler:
I think that I’ve given everyone enough content this week to let you know where I think the markets are headed… and why… well… we can’t bet against the Fed.
So, I’ve mentally checked out today… after I finished writing my piece over at Postcards from the Edge of the World for tomorrow… (You can check it out here…)
Today, I only have one thing to say.
Happy Birthday, Amelia (nickname: Monks)… let this note be a timestamp…
My daughter is eight years old today… and the gift that I planned to give her was a 30-minute hourglass.
It didn’t arrive in time. So, she got her other gifts instead…
More on those in a second…
My goal in 2026 is to try to be more present, which is hard. I’m building a business - and doing something that I hope she can inherit. But that is a massive disconnect between today's time and future time.
So, I am giving her a 30-minute hourglass so she knows that on any day… she can interrupt my work.
And so long as I’m not on air… she can interrupt me…
She can demand 30 minutes of my time… to do whatever she wants to do… or talk about whatever she wants to talk about…
It’s not like we don’t have time at night… but this is intentional.
It’s to educate her that I’m always available… but also forcing me to be available.
I know that a logical person would say - why aren’t you just doing this…
Well… this is life of an entrepreneur. Work-life balance is hard…
I tell myself that I’m doing all of this for my wife and daughter… but the reality is that there is a cost…
I’m aware that the greatest gift you can give your children is your time…
Now she has a tool that actually measures it…
And I can’t say no…
What Else?
Her other two gifts are important.
We don’t “Buy stuff…” She gets an experience for her birthday. So, she’ll be going to New York (when I’m there for work) to see Wicked.
It’s worth the splurge. So, she and my wife will go. I’m going to see Phish the same day, and then I have to be on the floor of the New York Stock Exchange the next day…
Then there’s the other gift. Every year, I give her a share of Berkshire Hathaway B shares. One share… that’s enough.
Here’s the thing… Berkshire B stock is now $500… which might be a tad pricey for some investors. So, I deliver this message.
Check out this article that I wrote two years ago… it outlines a great investment in Berkshire through the back door. It’s the SRH Total Return fund (STEW), a closed-end fund that is everything Warren Buffett for … 80 cents on the dollar.
Today, STEW trades for the same discount, but it’s up 33% in the last two years, offers that solid Buffett dividend you can’t get anywhere else, and is an affordable $18.20 a share.
I told Amelia today that I wanted her to take $2 of every $10 she saves moving forward and put this into STEW stock. It might not go straight up… but it’s a compounding machine that will continue to generate incredible returns as she grows.
That’s what Time will do…
And that’s why it’s the best gift you can give… to any investor in the markets too…
Stay positive,
Garrett Baldwin
You are a great Dad.
Great gift Garrett! Whatever it takes to give her your time. Work-life balance is hard sometimes so I appreciate your honesty in saying it out loud. I've been in STEW ever since you mentioned it. I don't have as many years as Amelia but 10-15 years will be enough time to have a nice gain. Happy Birthday to your daughter! Hope she had a great day!