In a blog last week, I discussed how the virtually uninterrupted bull market in equities during the last 10+ years has watered down the idea of “downside protection.” This is a problem, especially since not all declines are created equal.

There are numerous examples of words and phrases entering the lexicon, providing deep meaning for many years, but over time and with frequent use losing significance among the masses. The word or phrase itself didn’t change, but the meaning was diluted by changing circumstances.

I worry that “downside protection” has run through the watering-down process.

Vanilla is a fascinating ingredient. It is one of the most popular flavors worldwide and is incredibly common for use in baked goods. The process of creating vanilla flavoring is time-consuming and labor-intensive, which is why in its purest form it is also one of the most expensive spices in the world.

Vanilla’s widespread use and high value alone are not what makes it interesting. Take vanilla and add it to a cake mix and it enhances the flavor, turning an ordinary result into something great. But if you first bake the cake and then drizzle even the highest quality vanilla over it, you have effectively ruined the dessert.

Ingredients matter. So does the order in which they’re combined. In baking and investing.

Recently I was skimming through minutes from a weekly Blueprint Leadership Team meeting and something made me stop and chuckle. Each person had shared some good news from their week, and one had offered that she and her husband managed to shop for AND assemble several pieces of IKEA furniture without any squabbling.

It made me smile because I can relate (furniture assembly is now something I refuse to do, since it has been the biggest source of a fight I have ever seen). But it also made me realize how much I appreciate Blueprint’s tradition of sharing things for which we are grateful at the start of team meetings. It’s an opportunity to learn more about each team member, what they value, and what brings them joy.

Gratitude has a huge impact on business culture, and I thought the topic was spot on for a blog.

I was always terrible at those “guess how many tootsie rolls are in the jar” games as a kid. My complete lack of skill never deterred me from participating though. I mean, what kid was going to pass up the opportunity for a windfall like that?!