Póg mo thóin

Warren Buffett had Benjamin Graham. Stanley Druckenmiller had George Soros.

I had Shane MacGowan.

MacGowan, the patriarch of the Irish diaspora. Ornery at best, an ass at worst. Haunted by demons, afflicted with vices, with teeth that would give a child nightmares. A Celtic giant ironically best remembered for a cheesy, bittersweet Christmas song (with an official music video featuring a young Matt Dillon!).

I can’t imagine MacGowan was wise and patient with his money. I don’t believe he in his later years realized the value of prudent savings and the importance of diversification. But like Buffett with Graham, I would not be where I am right now without Shane. Today, on his passing, we raise a glass to one particular corner of the world of punk, and all that it gifted me.

I was raised a rather sheltered child, much to my benefit. The good nuns of Ursuline Academy of Cabinteely did the job of setting me on the right path, and the good nuns over at St. Peter’s of Olney made sure I did not stray off of it. I was well on my way towards a life well better than what I deserved by the time I discovered Rum, Sodomy & the Lash while in middle school.

I won’t pretend I was immediately drawn to the lyrics. I grew up surrounded by a lot of Irish music and connected to the Pogues’ ability to make modern music grounded in the traditional. But it didn’t take long to hear the subversiveness baked in, from their rendition of Ewan MacColl’s protest song “Dirty Old Town” to Shane’s lament of lives wasted in “Sally MacLennane.”

The band, and I, matured through the years, and the relationship grew. By the time Shane was gone from the band I was headed for college. During that time, the Pogues had taught me one of the most important lessons I’ve ever learned. They taught me not to take the world at face value.

Take “Thousands Are Sailing,” a sort of counterculture St. Patrick’s Day song about the plight of the Irish immigrant into the U.S. (Purists will now email me to point out this song was written by Phil Chevron, and not Shane. Acknowledged.)

Did the old songs taunt or cheer you?
And did they still make you cry?
Did you count the months and years,
Or did your teardrops quickly dry?

"Ah, no", says he, "it was not to be
On a coffin ship I came here.
And I never even got so far
That they could change my name."

Again and again, the Pogues told a story that made me question what I was being taught in history class. They made me wonder what else I should be questioning. They made me skeptical to believe anything I was told without checking for myself. You could say The Pogues ruined my childhood. I’d say they were the foundation of my adulthood.

I think there is an obvious investing lesson here, so I won’t spend 1,000 words belaboring it. This was around the time in my life I also discovered Ralph Waldo Emerson (thanks Reebok!), who I think summed it up better than I ever can when he wrote: A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines.

It can be a drag to play the cynic all the time. There is no greater pleasure than discovering something that is true and believing in it with everything you are. But I’ve found that in life, and investing, it is better to get there the hard way.

MacGowan once said the Pogues were the release for his guilt over not having the courage to join the IRA. I’d argue his life was far more impactful than it would have been had he gone off to fight for the Republic.

Rest easy, Shane. Thank you for everything.

Disclaimer: Fits and Starts DOES NOT provide financial advice. All content is for informational purposes only. Stocks mentioned are as reference only, and a mention should not be interpreted as a buy or sell recommendation. The author is not a registered advisor or a broker/dealer. DO YOUR OWN HOMEWORK. The information contained within is not and should not be construed as investment advice, and does not purport to be. The red zone has always been for loading and unloading of passengers. There’s never stopping in a white zone.

No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.