An electric silence, charged with intensity, settled over the Asscher Diamond workshop in Amsterdam. Joseph Asscher confidently laid the steel cleaving blade on the surface of the world’s largest diamond – the Cullinan Diamond. Weeks of planning and preparation had led to this moment. With a deep breath, Joseph Asscher raised the hammer, striking the blade with a resounding crack that sounded like a thunderclap. A collective gasp surged through the room, a lightning bolt of disbelief, as those gathered realized the blade had shattered, and the stone remained unyielding and intact.
Undeterred by the initial failure, Joseph revised his plan, carefully studying the stone and furthering his preparation work. Several weeks later, his second attempt at cleaving the massive gem was a complete success. The Cullinan Diamond would eventually be cut into nine major stones and 96 smaller ones, securing the Asscher family’s place in history
source: https://en.wikipedia.org/wiki/Cullinan_Diamond#/media/File:Cullinanroughpieces.jpg
Marcel Tolkowsky, an engineer fascinated with the physics of light, would have been too young to have been in attendance that day in 1905. Raised by a family of gem setters and diamond cutters, he would have heard the story told and retold. Thirteen years later he would tell his own story and turn the diamond-cutting world on its head – literally writing the book on diamond cutting (Diamond Design). source: https://en.wikipedia.org/wiki/Marcel_Tolkowsky
Driven by ambition and a fascination with light, he sought to optimize the beauty of diamonds by marrying art and science. His cut radiated light making the stone dazzling and captivating. As he emerged on the scene with his groundbreaking scientific approach, the winds of change began to blow through the diamond district.
The years that followed saw the rise of Marcel Tolkowsky’s modern round brilliant cut. It now accounts for over 70% of the annual cut diamonds and his methods are still used by the Royal Asscher Diamond Company.
I love this story. It is the story of every industry of every entrepreneur and of every craftsman. It’s your story and my story: opportunity, risk, setback, determination, triumph, technology and change. The work of the diamond cutter and polisher is so appropriate for investors – especially today.
Much like the diamond cutters of the past, investors today face a myriad of challenges and uncertainties. Globalism, the dominant world order for the past 50 years, is under great strain. War, inflation, recession, and disruptive technology threaten our ways of life. Joseph Asscher’s determination and Marcel Tolkowsky’s innovative spirit serve as inspiring examples for investors navigating these tumultuous times.
No one could have imagined in 1905 that the mighty Asscher family would be rounded up by the Germans and sent to concentration camps. Only 10 family members and 15 of 500 employees would survive . And yet they did. With careful planning, precise cutting and patient polishing. Planning, cutting and polishing. source: https://en.wikipedia.org/wiki/Royal_Asscher_Diamond_Company
The lesson for investors? Gratefulness. Humility and determination. The crowd in the workshop in Amsterdam focused on the diamond. Joseph focused on his plan and process, regrouped and literally struck again. As investors, our job is to plan, to cut, and to polish.
If you don’t have a financial plan, we can help you make one. Sometimes we have to cut positions and make the hard choices to make your portfolio “sparkle.” Most of the time, we have to polish, removing scratches and imperfections, and updating the plan to make sure you stay on track.
In the face of today’s challenges, investors can find motivation from the story of Joseph Asscher and Marcel Tolkowsky. Their relentless determination and adaptability in the midst of adversity serve as an inspiring testament to the resilience of the human spirit. By learning from their experiences, we can cultivate a strategic mindset, make well-informed decisions, and persevere in our pursuit of financial security and success, regardless of the obstacles we encounter along the way.
Plan, cut, polish – that’s what we do.
