Crazy day today. I’m an associate producer on the Judge Judy Show, and every tape day part of my job is getting the litigants for my cases to set on time. Normally they’ve flown into town the night before, and we control the cab that brings them to set from the hotel. But for local folks, they often drive themselves. So that means I have to depend on them.
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We do ten tapings a day, and as viewers of the show know, the judge can rip through cases. Today was an example of some extra rapid a-Judy-cation, so I texted my people to arrive a little early. The Plaintiff made it without a problem, but twenty minutes after the original call time, the defendant tells me he’s still twenty minutes away.
Not great, but not too big of a problem.
So, I give him the twenty minutes, and I call to check his status. Call goes straight to voicemail. I call again: now the phone doesn’t ring or go to voicemail. Call again - nothing. Then it hits me: I’m fucked.
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Losing a case costs the show beaucoup bucks. And while they don’t take production costs out of our paychecks (yet), the big boss gets super grumpy when one of his producers loses a case. So, with next year's raise on the line, I'm getting pretty damned frustrated.
I get my producing partner to call the guy; I call from the landline; I get other APs to call. Just a big fat tub of nothing. I've got the last case of the day, and Judy’s ripping through the second-to-last. I figure all hope is lost, and I'm super pissed. So I called the guy’s phone and left him a pretty nasty voicemail. Not just angry. But a real attempt at an emotional wound. I grant you, it wasn't very professional.
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Then about five minutes later he walks through the door! Now it’s a mad rush to get him ready for stage (because Judy sure as hell isn't waiting on me or my litigant). Sign a bunch of legalese, a quick powder in makeup, and I rehash his defense and his evidence. He’s like a deer in the headlights as three producers shout at and cajole him to get his head in the game.
And you know what? The case was pretty good. Sure as hell better than a drop.
Anyway, I guess the guy’s phone died while he was driving to set. I thanked him, he thanked me, and everyone was happy. And I told him if he heard a nasty voicemail from me later on, he should please disregard it.
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I mention this story for two reasons: One, I'm often the guy to tell people in emotional situations without any definitive information to just play it cool. Assume the best, and don’t fly off the handle. You don’t know you’re fucked until you know you’re fucked. Clearly I didn't follow my own advice.
I have to think that similar advice is important in investing - especially in a market as volatile as cryptocurrency. I’m sure it’s the easiest thing in the world to plan to HODL (a recent term I’ve sort of learned), or tell others to do so. But in the emotional heat of the moment - watching the numbers plummet - that cool calm can quickly fly out the window.
My second point: the other day I wrote a post about Magical Optimism - an essay that tries to derail the idea that positive thinking has some magical effect on the Universe. Well, today my attitude was super negative, and things still worked out. So that's a bit of empirical evidence in support of my theory.
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Thanks for reading!