The Peach Basket of James Naismith - Finance and Markets

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The story:

During the American Civil War, James Naismith was born in Canada in a Scottish household. He would grow up athletic and devout.

Early on, he struggled with school work but had unrivaled athleticism. He later entered the seminary and graduated with a physical education degree. While teaching PE at International YMCA Training School, he made a remarkable invention.

One day, a supervisor asked James Naismith and his colleagues to create some new indoor games. They should be less violent and more interesting than the ones currently played.

James combined baseball, American football, and field hockey into a contact-free sport: basketball. The basic rules of James’ game are still used today in an industry worth billions of dollars.

The first teams were nine players because the classes were all 18 students. Players cannot walk, run, kick the ball, and physical contact is against the rules. Players scored by tossing the ball into a peach basket set up at either end of the court.

Today, basketball is everywhere, on every continent and country. There are professional leagues across North and South America, Europe, Asia, Australia, and Africa.

The NBA alone brings in over $7.7 billion in revenue every year. That’s big money for a game first played by chance in a Christian training facility.

The takeaway:

You don’t know how a decision will turn out. If like James Naismith, you choose the right combination, your portfolio could grow exponentially. If not, you could see your hard-earned money evaporate in an instant.

That might be what keeps so many people out of the market or on the sidelines. But, you can’t let the chance of losing keep you out of the market, but you also shouldn’t take unnecessary risks. Be diligent, choose your investments wisely, and help your portfolio grow.

Image: Google