You know from here, here, and here how bad stuff happens above the tree line on Mt. Washington, NH. And yet every year between now and however long the snow lasts, skiers will head to Tuckerman’s Ravine for the season’s last turns. This used to be a rite of passage after the lifts closed and summer days on the water were right around the corner.
Nowadays, with better equipment (but not necessarily better skills), skiers head up Tucks in the heart of winter. This is nothing new. Climbers did it all the time. The backcountry has always been open year-round. But more and more are heading that way to ski, who perhaps should stay in the lodge. Tuckerman’s in the winter is an entirely different beast than in the spring. And it’s why every year we hear about rescue missions.
Back in the late 80s, Your Survival Guy was caught in a sticky situation skiing the snowfields above Tuckerman’s Ravine, traversing over to and above the headwall, but we overshot it and were almost too low. With nowhere to go but over the cliff or sideways, we side-stepped inches at a time, digging in our edges, for what felt like being stuck in the fog, slowly making our way to the nearest gulley. I told myself I’d never put myself in that type of situation again.
When we got to the gulley, we skied down without much of a word. No high fives. Just an unspoken “let’s get down now.” Later that night, over beers, we were all thankful we made it down without incident. We knew it could have easily gone the other way. I can feel my palms sweating just thinking about it. I can’t say I’ve done anything like that on skis ever since.
Action Line: As it relates to investing, are we safer with age? I’m afraid not. Investors tend to learn lessons the hard way, and lessons are not age-discriminatory. I know I’ve been a lot more careful on skis ever since that day in Tuckerman’s. When you’re ready to talk about your retirement life and margin of safety, email me at ejsmith@yoursurvivalguy.com. I’ll know you’re serious.
