I quit money management back in 2016 (following 18yrs in the business), right before markets took off and generational wealth was created. Many of my colleagues went on to become zillionaires, managing ever increasing books of business thanks to good health and a strong market. Meanwhile I dicked around with websites and tweeted 30 times per day, but also created Stocklabs and traded very well for myself inside of a trading room with like minded gents, perhaps 1 or 2 ladies.
I do not have any regrets for the course I took, since all of my decisions are mostly deliberate and for a reason. When I quit in 2016, I absolutely hated the business, felt it was parasitic, and was disgusted by it. Looking back now I can honestly say I was caught in between industries, wanting a professional career whilst also juggling the anonymity of being an online personality and it caused friction. I had money so there wasn’t any impetus to keep one job over the other, so I opted for freedom and creating investment tools and resources for traders. I’ve always felt more at home amongst individual traders, less so with industry hacks who almost uniformly suck at trading and only care about the fees they’re paid.
Today I passed the regulatory exam that gets me back in the biz, should I choose. It wasn’t a hard exam, at least not for me, since I know this stuff like the hairs on my arm. My next step will be to get back in the biz, but on my terms. I do not intend to shut down Stocklabs and will still maintain an online presence, but perhaps there will be limitations to some of the content I provide. My entire life I’ve always wanted to be in money management. As a 10yr old boy I’d fantasize over it and play stock market games with my friends and I took to investment as a teen and always had a knack for it. Ever since I quit, I yearned to get back in and after my licenses expired after two years dormant, I figure that was that and the end of a chapter. But that isn’t true and in the beginning of 2024 I decided to retake the exam and get my licenses back, partly because I really missed being in the mix, but mostly to prove I can still do it.
Cheers to me, jog on.
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So if you move forward, would you do it in association with a larger firm or as an independent money manager?
Not sure yet, most likely indy.
I’m getting my checkbook ready 🙂
One of the most difficult and annoying aspects of the businesses is attracting and servicing clients. After 17 years I moved from retail advisor to corporate retirement plan management in 2006. I don’t miss dealing with ungrateful retail clients. Always bitching about not making enough money, losing money and/or fees.
I get that. But I really love the challenge and that’s sort of my specialty, making people money.
I’ve been reading EVERYTHING you write for what feels like 20 years. Even if you dial posts back to 2-3x per day, there’s a lot of us that would still like to read your thoughts on the markets. And the humor, that is priceless…
Congrats Fly! Im in Raleigh (North Hills), if you are meeting clients in person I could be interested. Keep us posted.
Thanks. I’m in Raleigh myself. Email me flybroker@gmail
Don’t have any idea what the investment minimums are going to be ?