The Prohibition of Drawing Images, the Fidelity "Dead Accounts" Study, and the Importance of Long-Term Investing

The Prohibition of Drawing Images, the Fidelity "Dead Accounts" Study, and the Importance of Long-Term Investing

Introduction:

In this article, we will explore two seemingly unrelated topics - the prohibition of drawing images in Islam and the debunking of the Fidelity "dead accounts" study. While these topics may appear disconnected, upon closer examination, we can find common points that shed light on the complexities of human existence and the importance of making informed decisions. Additionally, we will discuss the significance of long-term investing and provide actionable advice for readers.

The Prohibition of Drawing Images:

Islam's prohibition of drawing images and erecting statues stems from the belief that no artistic representation can truly capture the essence and importance of human beings. Every depiction of man is considered insufficient and flawed, downgrading the significance of humanity and its honorable purpose. Such depictions are seen as a form of distortion, falsehood, and even blasphemy. Allah is regarded as the only Creator, and any attempt by humans to create or depict the essence of a human being encroaches upon His exclusive rights and authority.

Furthermore, the act of drawing images and erecting statues can lead to veneration or even worship, potentially crossing the boundaries of monotheism. Islam emphasizes the importance of avoiding idolatry and maintaining the purity of faith. Therefore, the prohibition serves as a means to safeguard the integrity of religious beliefs.

The Fidelity "Dead Accounts" Study:

The story of the Fidelity "dead accounts" study, which claimed that accounts of deceased individuals outperformed all other strategies, is revealed to be a fabrication. While debunked, it prompts us to consider the possibility that conventional wisdom may have some truth to it.

To explore this, we can analyze the performance of different investment portfolios using Morningstar's portfolio tool. By examining the returns of a simple 60/40 portfolio and a Boglehead 3-fund portfolio, we can gain insights into the effectiveness of long-term investing strategies. It is crucial to note that the portfolios' performance is based on reinvested dividends and capital gains.

Long-Term Investing and Actionable Advice:

• 1. Stay the course: Long-term investing requires patience and discipline. Avoid reacting to short-term market fluctuations or chasing quick gains. Stick to a well-diversified portfolio and trust in the power of compounding over time.

• 2. Regularly rebalance: Rebalancing your portfolio helps maintain the desired asset allocation and mitigates risk. Set a schedule for quarterly or annual reviews to ensure your investments align with your long-term goals.

• 3. Seek professional advice: Consider consulting a financial advisor to help you develop a comprehensive investment plan tailored to your specific needs and risk tolerance. A professional can provide valuable insights and guidance, especially during uncertain market conditions.

Conclusion:

While the prohibition of drawing images in Islam and the debunking of the Fidelity "dead accounts" study may seem unrelated, they both highlight the importance of understanding complex matters and making informed decisions. Just as attempting to depict the essence of humanity through art is considered inadequate and blasphemous, blindly following false financial studies can lead to misguided investment strategies.

In the realm of investing, long-term strategies and disciplined decision-making are key. By staying the course, regularly rebalancing, and seeking professional advice, individuals can navigate the complexities of the financial world and work towards achieving their long-term goals. Remember, it is crucial to approach both religious and financial matters with careful consideration and critical thinking.