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Every two weeks, I share my writing about investing, career transitions, parenting, and other topics that engage me. I'm just trying to figure stuff out.

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Luminous Landmarks

I chose to move to Maine, and I haven't regretted it since. When you make that decision, you're not allowed to complain about the winter weather. That's part of the deal.

But can I gripe about the spring weather? This year, it's been especially brutal. Twice over the past two weeks, major storms left much of the state without power for days. By the time you read this, we should have received a bit of payback in the form of clear skies and a front-row seat to the eclipse's prime viewing path. 🤞

This latest one-two punch reminded me of the intense winter storms that hammered the Maine coast on January 10th and 13th. Since a few months had passed, and maybe to distract myself from the current maelstrom, I searched online for an update on the recovery from the January storm.

And that's when I came across this story on a local news show describing extensive damage to Maine's lighthouses.

I had no idea most lighthouses, at least in Maine, are privately owned. Also, neither FEMA nor insurance funds cover the necessary repairs.

Organizations like the American Lighthouse Foundation are raising money from private donors and requesting $12 million from the state, but many of these iconic buildings may yet disappear.

As I considered the sad possibility of fewer lighthouses marking the Maine coast, I began to think more about the role lighthouses play in my life and our culture.

I start the day each morning by opening a personal dashboard in Notion that features this classic shot.

While it's (usually) still dark outside, the tranquility of the image of the lighthouse at Fort Williams Park in nearby Cape Elizabeth (ironically, a shot from dusk) helps me ease into the day. Lighthouses are often beautiful buildings in extraordinary settings, but they represent much more.

This classic beacon symbolizes trusted guidance and safety, but there's also a paradox at work here. Lighthouses were built to mark dangerous coastlines and shoals and provide safe entry to harbors. They serve as navigational aids. The tall structure, the beaming light, or the sound of a foghorn can offer a target to aim towards, but it's more complicated than that.

Lighthouses also signal where not to go, illuminating areas of danger to avoid rather than offering a direct path to safety.

Lighthouses' nuanced role as guideposts and warnings mirrors the complexities of the advice and lessons we encounter as we chart our personal and professional courses.

Consider the noisy guidance we process daily—words of wisdom from mentors, lessons from past experiences, and the endless sea of information online. Much like sea captains before GPS, we must discern which signals to follow and which to acknowledge as warnings of what to avoid. Often, the most valuable insights are not direct instructions but honest warnings of the potential pitfalls.

Take, for example, the decision to embark on a new career path or start a business. Of course, we need a clear plan and markers to chart our progress. But the lighthouse metaphor can remind us that we can't map out a step-by-step route to success. It's never that simple. Instead, we can refer to clear, reliable guideposts to stay on track and monitor the risks and challenges along the way—the rocky shores of financial instability and the shoals of work-life imbalance.

We must constantly ask ourselves where we are heading, whether we are on track, and what dangers we must avoid.

As I considered this idea further, I was reminded of our duty to be lighthouses for others. Through our experiences, failures, and successes, we have the opportunity to illuminate the dangers and guide those following in our wake. By sharing our stories and insights, we cast a light that can help others navigate their way more safely and confidently.

Eventually, the snow will melt, and summer will return to Maine. It always does.

I look forward to getting out onto the water at some point. Unfortunately, when I do, I expect to see a significant impact from the January and spring storms. The clean-up may take years.

It's not inevitable that the lighthouses that have characterized the Maine coast will survive. However, their symbolism as a dual navigational aid, indicating what to steer toward and what to avoid, will endure in my mental toolkit.

I hope the lighthouse metaphor will also help guide you safely along your path.

Other Stuff

Expense Growth Bedevils Multifamily Properties A recent Yardi survey of more than 20,000 properties highlights ongoing expense pressure across the industry, especially massive insurance cost increases. The details vary by region, but the report offers useful insights for apartment operators and investors.

​Read the report (10 mins)

Apartment List National Rent Report: U.S. Rents Up 0.6% in March The latest update from the Apartment List research team shows a second consecutive month of rent increases following six straight months of decline. Year-over-year change remains negative at -0.8%, meaning new leases remain marginally cheaper than one year ago, even as broader inflation continues to increase.

​Read the report (7 mins)

Financial Nihilism Rising interest in crypto, meme stocks, online gambling, options trading, and the good old lottery ticket may have more in common than you think. On the Market Sentiment blog, Travis Kling of Ikigai Asset Management, a crypto manager, writes a guest post that points to pervasive financial nihilism.

​Read the essay (8 mins)

And a Farewell Photo...