🗓️On October 12th, 1810, the first-ever Oktoberfest was held in Munich, Germany, to celebrate the wedding of Crown Prince Ludwig of Bavaria and Princess Therese of Saxe-Hildburghausen.
Back then the citizens of Munich were invited to partake in the royal wedding festivities, which included horse races and days of merrymaking on the fields, now called Theresienwiese, in honor of the princess. The event was such a success that it became an annual tradition, gradually evolving into what we know as Oktoberfest today. Over the years, horse races were phased out, and beer became the centerpiece of the festival. Breweries began setting up tents, and traditional Bavarian music, dancing, and food turned it into a celebration of local culture. Today, Oktoberfest is the largest folk festival in the world, attracting millions of visitors to Munich every year. It lasts for about 16-18 days, usually from late September to the first weekend in October. Beyond its Munich roots, the festival has spread globally, with cities from the United States to Brazil hosting their own versions, all sharing the same vibrant Bavarian spirit.
Here are four lessons for the modern investor from the history of Oktoberfest:
🍻Evolve with the times, Ja?: Oktoberfest started as a royal wedding celebration and evolved into a global festival attended by millions of party goers. Investors should note the importance of adaptability, recognizing when to pivot or expand a tactic or two to meet new demands and opportunities, especially when something different is brewing.
🍻Leverage Tradition for Longevity: Oktoberfest’s success lies in its ability to balance tradition with modern appeal. For investors, some strategies stand the test of time though they need modern updates. For instance, the old buy and hold philosophy might become research and rent in today’s dynamic environment.
🍻Economic Resilience Through Diversification: Oktoberfest generates revenue not just from beer and bratwurst but also from entertainment, travel, and tourism. For investors, having various income streams helps keep the party going.
🍻Think internationally: Though rooted in Munich, Oktoberfest expanded globally, proving that successful local concepts can scale internationally. Now may be a time to scale your own efforts internationally as US interest rates decline and the dollar likely follows on a relative basis. US assets have dominated for so long, that the eventual hangover may be a doozy.
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