Nothing Worse Than Faded Glory

The first rule of being a stockbroker is to never think with your own pocket. Often times, young advisors make this fatal mistake and price themselves out of the big leagues.  Your clients are richer than you and would prefer to send you less money, if at all possible. Very few people are chomping at the bit to send some 20 something punk out of college hordes of cash to invest in risk assets. They’ll tell you “let me talk to my wife” or “I have my money tied up in real estate.” They’re just lying to you to shut you up.

Many piker-brokers accept the poverty schtick from their multi-millionaire clients because they themselves are poor/disheveled. Some of these aspiring advisors pity their clients plights; and instead of asking for the monster order, they ask for something so small, my dog could cut a check for it.

Go big or go home. There isn’t any other game to play. You either turn your business into a cash generating machine, or you do something else.

The other day I hired someone to do a menial task at my house. After speaking with this gent for 5 minutes, I knew something was “off.” He was too smart, handled himself well, and had an impressive reportoire of vocabulary at his disposal, to be wasting time on such a small odd-job. After several days at the house, I learned that his business used to be 8x as large as it is now and how several accidents  removed him from the path of glory. He spoke of a golden era when he had crews and limousine car phones (the 1980’s) and flew around the country to cater to high net worth clients. All of that, and more, are now nothing more than a faded memory. I could tell by the way he tip-toed around price that he was struggling and gave him a handsome tip for it.

The truth is, I was sad for him and feared his position, for it could happen to anyone, even me. A series of unfortunate events can transpire that can turn success into defeat. If you let the spirit die, well then, you will be singing the same tune about a golden era when you used to be someone important.

Now is the time to try your hand at life, become successful, ask that woman out on a date–do something. Otherwise, you’ll be shining shoes one day, regretting the time wasted when you were young and full of energy and supposed to be building a future, but instead opted to play with your balls.

Oh, by the way, NSTG is soaring and if you were a member of The PPT, you would have seen this message after my partial sale.

Instead of trying to play gotcha with me, why don’t you listen to what I am trying to tell you?