I’m hiking down the mountains, making my way to civilisation after three days of camping. I look forward to electricity, running water and best of all- being able to feel my face again. I must’ve pulled a muscle the previous day because my right kneecap shrieks every time I begin to bend it. As I trudge down the mountain, careful not to bend it, I remember a story about climbing down the mountains by Mr. Krishan Sharma, a renowned investment coach.
Once, Mr. Sharma asked Jamling Tenzing Norgay (son of Tenzing Norgay) about the role of sherpas in mountain climbing. Mr. Tenzing replied that a sherpa is an advisor for mountain climbing. Mr. Sharma asked him if it was possible to climb up Mt. Everest without the help of a sherpa?
Mr. Tenzing replied that some people do climb up Mt. Everest without a Sherpa but the percentage was quite small- about 3% of all the people who climbed. He explained that when climbing up the mountain, one can choose whether to climb up or not. But the real struggle starts when you begin your descent. One has no choice in this matter, one is forced to climb down the mountain whether one wants to or not. He said that most of the accidents (76% of all fatalities) happen while climbing down the mountain.
Here, Mr. Sharma draws an analogy to the stock market- in a rising market, everyone makes money. One has the option to enter the market (i.e., invest) or wait. But the markets are generally rising and falling. It is much harder to stay invested in a falling market.
One of my fellow trekkers spots me stopping and says- You’ve climbed all the way up, this is just climbing down!
I smile and continue walking, eager to narrate the story of Mt. Everest, volatile markets and a wise Sherpa!