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.
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About the Author
John Forman, author of this blog, has traded for more than 20 years, is a professional market analyst, and authored The Essentials of Trading. He is an active participant in trading forums, consults for trading related businesses, as published literally dozens of trading articles, and has been quoted in a number of books and in the media.
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