The material for this post is a bit dated but interesting nonetheless. A few days after news broke about Merrill Lynch’s $8.4 billion write-down and the subsequent ouster of its CEO, the financial giant ran a full page ad in the New York Times. With a heading that read, “Why Merrill Lynch is still bullish on Merrill Lynch,” it included this telling line:
“We try to remember that investing is not a sprint, but a marathon, and that over the long term, patience is invariably rewarded.”
A month earlier, the Times ran a story about the sponsor of the New York marathon, ING, that drew the same correlation between investor prowess and long distance running:
“It is not surprising that a financial services company would find attractive qualities in sponsoring a marathon, especially in New York, a global economic capital, said Don Hinchey, a vice president of The Bonham Group, a Denver-based sports and entertainment marketing firm.
“Marathoners tend to be affluent. The average household income for participants in the New York City Marathon is $130,000. . .
“‘Couple that with the fact that marathon runners, by nature, think long term,’ Hinchey said. ‘They’re comfortable with delayed gratification. Isn’t that the essence of the appeal of an insurance product or financial planning?’”
(It’s worth noting, by the way, that “the initial three-year agreement as title sponsor cost close to $6 million, according to officials with the New York Road Runners, the race organizers. The arrangement with ING has since been renewed through 2010, and is believed to cost $2 million to $3 million a year.”)
Does this make runners a more financially savvy group? More likely to become wealthy in the long term, or at the very least maintain financial health?
I’d like to think so. But perhaps it’s enough to shoot for less tangible riches, and mental health.
I love running in winter. But less daylight, harsher weather, a more rigorous work schedule, and holiday plans add up to dictate a much more relaxed running regime. This article from Runners World provides helpful and encouraging tips on readjusting one’s training throughout winter — reducing but not abandoning training altogether, so as to be ready for spring racing.
The author recommends not less than three nonconsecutive days of running, and maintaining a base of at least 50 percent of your usual weekly mileage.
That, I believe, is doable, even with darker, colder days and relentless work deadlines.
