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Saturday, October 13, 2007

A Tribute to Coach Wooden

Sunday, October 14, 2007 is the 97th birthday of Coach John Wooden. Coach has had a great influence on me despite the fact that I have never played basketball on his team or even met him face-to-face. Sure, I’m a basketball fan and his coaching accomplishments are legendary – in fact many consider him as the best coach of all time. But his greater influence to me is as a premier role model in his beliefs and personal character.

During the summer after my sophomore year in high school, I attended the week-long Pocono Mountain Basketball Camp in Pennsylvania. The highlight of that experience was the appearance of Coach Wooden after dinner Friday night and the talk he gave to us on his ‘Pyramid of Success’. He has long defined success by saying: “Success is peace of mind which is a direct result of self-satisfaction in knowing you made the effort to do the best of which you are capable." He explained the pyramid to us in some detail that evening; and yes, he described how it related to playing basketball. But the primary focus of the pyramid really had little to do with basketball, but everything to do with how to live our lives. Even to this day, I have a framed ‘Pyramid of Success’ as signed by ‘John Wooden’ as the sole item hanging in front of me above my computer desk.

McDonald’s has developed a website dedicated to Coach Wooden as a tribute to him. I sincerely hope you will spend 15 or 20 minutes there. I especially recommend you spend time in the links for The Pyramid of Success and also Favorite Maxims (especially his Seven Point Creed). Enjoy:
Coach Wooden link

Since this site is devoted to covered calls investing, I’ve developed the following as a personal tribute to Coach:

Stock Selection is the foundation.The diversification triumverate of asset allocation, sector diversification, and position sizing is at the central core. Covered call position selection is at the pinnacle. These components act together to enable success for the covered calls investor.

Making the effort to do the best of which I am capable,

Regards and Godspeed

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