There are a few drawbacks to working that I didn't take into account, namely it cuts harshly into my blogging time. Worse, there's no Starbucks anywhere nearby, the office has a Cuisinart 12 cup coffee maker, and they use Folgers coffee, and they make it weak. In the good old days, last week, I'd drink the whole 12 cups in about three (3) hours. They are small cups don't you know. And let us not forget, coffee is liquid mental health, diabetic friendly, can be used with Splenda if you like sweetener, and when you lace it with espresso, it's really good for your heart! There should be a Starbucks in my building, if not on my floor. Mental Note, write Howard Schultz (CEO of Starbucks) and have him open a Starbucks in my building. On the other hand, I need to avoid the blueberry muffins, the marble cake, the chocolate this, the chocolate that. Maybe my own coffee pot! Critical thinking at work here. Strategy, tactics, operational efficiency, I'm back at work. My thanks to Odat for the ringtone that I have attached to my boss's phone number in my cell phone. That woman is a font of useful and timely information.
Create free ringtones at Phonezoo
There is no time for blogging. There is a ton of reading to do, at least for me. In modern portfolio theory, diversification is a huge issue. An economist proved that something like 91% - 93% of gains actually came from asset allocation, and not from selection in its class. That's the quick version. The entire theory won the Nobel Prize in Economics in the early 80's, so I started there. I also have to learn every account type, the restrictions, how to open them, how to transfer accounts, and on and on and on. And that's just the beginning.
The investing world at the professional level is quite different than I had imagined, at least in the area I am working in, namely Wealth Management. We are ALWAYS supposed to take the client's needs into account. Everything is focused on the client.
The big brokers are known as 'the wire houses' and are also often called the 'sell side'. My partner, who has twenty-one years experience with the wire houses, claims that one day someone will be able to prove that the wire houses issue sell recommendations when they want to build a position in a company's stock. My last account with a wire house was such a bad experience that I prefer to not mention the company or the experience. What I will tell you is that it took almost two months to transfer my account to another institution. Even better was the more than $250 they took as fees to close the account, and various other sundry charges.
I am not trying to tell you that any setup is perfection, and that nothing can ever go wrong. I can't even do that at home. On the other hand, I am so happy to be trying! The hours are long, the math is a push over, and you actually get to help people.
And finally, Judy and I are going to Des Moines, Iowa Thursday morning, and we won't be back until late Sunday. The video is an homage to Odat, just because. I hope all goes well with all of you, and I'll be back on-line as soon as time permits!