Friday, April 07, 2006

FOUND ANY DIAMONDS LATELY?

One of the most famous lectures ever delivered was the one made 5700 times by the American, Dr. Russell Conwell. The name of the speech was "Acres of Diamonds" and I think we can learn something from the moral. The fable was told to him by an Arab guide he used on a tour of the Middle East in 1870. It concerns a poor Arab who was told by a Buddhist priest how the world was created and how all the minerals and gems came into being; that diamonds were among the last of the precious stones to be made and that they were in fact congealed drops of pure sunlight. The poor Arab, made disconent by the story of the diamonds, asked the priest where they were to be found. Told to look for rivers that run over white sand, the Arab sold his farm, left his family with relatives and began the search. After years of fruitless searching and ultimately becoming penniless, he killed himself.
Then one day, the new owner of his farm, took his camel to a stream running through the property. While the camel drank he noticed a gleaming rock in the river, retrieved it and took it to the house.
Coincidentally the same priest who had sent the Arab on his search for diamonds came around for another visit, noticed the diamond and helped the farm's new owner retrieve fabulous stones that soon adorned the crowned heads of Europe.
There were indeed acres of diamonds on the poor Arab's farm. But he did not look in his own garden. He missed finding the diamonds in his own back yard.
I wonder if you are still looking for the pot at the end of the rainbow? Too often our own circumstances seem mundane - we never seem to have enough money to satisfy our wants and we go searching for some get-rich method that will solve all our problems in one fell swoop.
I believe that is why the share market is artificially propped up by the thousands of investors who want to get rich quickly even if it means borrowing to do so. Recent history has been studded with booms and busts and the '87 crash brought many investors to their knees.
Some investors enjoy the cut and thrust of speculation and have the flexibility to ride the highs and lows with equanimity. Others are more intense and are either in a state of euphoria when their shares gain a few points or suffer ulcers when they take a dive. The large remaining group of investors if asked, "Do you want to sleep easy at night or are you prepared to take the risk for high returns and wouldn't worry too much if you lost out", would plump for security every time.
I believe there are diamonds in our own back yard. A big one is the ability to learn how to live within the income we receive. The second is to plan our spending in such a way that we have sufficient surplus to save for the necessities of life without using easy credit. But the most sparkling diamond is reserved for those who are willing to help the poor and needy - those who have no access to the things in life that we take for granted.
Hope you discover a few diamonds in your back yard that you can share with others.

No comments: