top of page

The ‘Roar’

Heraclitus, a Greek philosopher, was quoted as saying "change is the only constant in life." It’s something we say in all kinds of situations - to comfort those experiencing the pain of change due to loss, or as an expression of awe, even joy, when life’s grand wonders happen upon us. Sometimes these events intertwine in the bittersweetness of life, which is captured in the statement’s temper.

The Greek letter Delta is the universal symbol of change. Delta is the difference between two variables, often when a catalyst is introduced or while a change is taking place. Delta is present in algebra, geometry, chemistry, physics, music, and even, philosophy. The Delta variant of COVID-19 has wrought the change its name portends and continues to upend the world, unfortunately.

Delta has long been linked with finance and investing.  On Wall St., Delta is the ratio that compares the change in the price of a stock to the corresponding change in its derivative, a stock option. “What’s the Delta on that option?” (meaning - what’s the price of that option going to do when the stock moves?), is a question one would hear all day on a trading floor. Companies and their bankers constantly use Delta when considering a merger, acquisition or using more leverage.

People use Delta when discussing all manner of financial questions too. When refinancing a mortgage, making retirement plan contributions (taxes!)  or simply watching their portfolios, it’s all about the Delta. Over one day, one month, one year, ten years and beyond.

Delta, and not just the COVID variety, can make people uneasy as change can be difficult. As financial planners, we often find ourselves present at the crossroads of a Delta event for our clients. In making life moves like marriage, homes, children, retirement – quantifying the Delta of decisions is a useful way to understand what the future may look like. It can also relieve anxiety about the impact of those decisions by knowing the realm of possibilities from the best-case scenario to the worst. Sometimes, the Delta of a decision may be smaller than it first appears, as all equations have two sides.

A good options trader always knows their upside and downside regardless of whether their stock moves up or down. Our goal, and role, is to help you make the most of your financial options (however, don’t expect to see any stock options in your portfolio!).

While change is often feared and resisted, a quote by the American Founding Father Benjamin Franklin directs us to roll with it. He said: “when you are finished changing, you are finished.”

Have a great Autumn and please contact us with any changes to your financial picture or just to chat.


Scott Lasky, CFP™

Lionshead Wealth Management, LLC is an investment adviser in New York. Lionshead Wealth Management, LLC is registered with the Securities and Exchange Commission (SEC).  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission.  Lionshead Wealth Management only transacts business in states in which it is properly registered or is excluded or exempted from registration.  A copy of Lionshead Wealth Management 's current written disclosure brochure filed with the SEC which discusses among other things, Lionshead Wealth Management's business practices, services and fees, is available through the SEC's website at: Past performance is not an indication of future results. Please note, the information provided in this document is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services. Nothing provided in this document constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. This document may contain forward-looking statements relating to the objectives, opportunities, and the future performance of the U.S. market generally. Forward-looking statements may be identified by the use of such words as; “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates with respect to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting a portfolio's operations that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward-looking statements or examples. None of Lionshead Wealth Management or any of its affiliates or principals nor any other individual or entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. All statements made herein speak only as of the date that they were made.

bottom of page