Saving for the sunny day

Conventional wisdom is to save for the rainy day but conventional wisdom is usually way off the mark. If we are to believe the validity of the theory of self fulfilling prophecies (pymaglion effect) then saving for the rainy day is a very poor strategy for managing your personal or business financial assets as you are invariably asking for a downpour.

Think of saving for the sunny day instead; saving up so that you have the financial muscle to take on projects and acquisitions when the sun of opportunity shines on you. There is perhaps nothing more frustrating than watching opportunity degenerate (its half life is really short) while you wring your hands wishing you just had some money to invest.

Queer thing is, the rainy day for most people is also the sunny day for the discerning. Throughout history, times of unprecedented economic crisis have also been times of unprecedented opportunity to acquire the most value for the least amount of money. However, the market is open exclusively only to those who have saved for the sunny day.