A reader by the name of Mike asked me the other day whether I manage money. The answer to that question is no. I’ve always been a bit reluctant to go that route for the simple reason that if I have sub-par performance on my own money it’s only me who suffers. If I do that managing other people’s money then I’d feel bad for letting them down as well.
You might suggest that’s sounds like a confidence issue. I’d say that’s it’s more about being realistic. Even the best money manager can take a hit. I’m not so arrogant as to believe nothing could ever happen to cause less than desirable returns.
Also, people get a bit crazy when it comes to their money. I’m not sure I want to deal with investors challenging me on my trade decisions, risk taking, performance, and all that. It’s kind of like having parents questioning line-up selections and playing time when their child plays on a team. They don’t generally have an appropriate perspective on things.
But this is mainly a moot point anyway. I work for a Registered Investment Advisor firm. That would make things very complicated when it comes to managing money and stuff like that. It’s tricky even to just express and opinion on things.