I have a stock broker now at one of your full service brokerage houses. Will this work out? Time will tell.
E*Trade and Schwab are great if you are paying attention, but evidently I wasn't. If I had been I would have sold more Intel stock two or three years ago. I blame it on my health. Right now I try to stay healthy enough to do my job. Anything else I get done is a bonus. Not sleeping well puts a real crimp in my ability to get things done. So I blame my poor health (my trouble sleeping) for my failure to pay attention.
Signing up with Chinook Capital Management a year ago might have worked out if they had been competent, if I hadn't been margined to the hilt, or if the market hadn't been in a landslide. If any one of those factors hadn't been true it might have been okay, but with all three working against me, it was doomed.
The big advantage of the broker is it's someone to remind me of reality. It's much easier to be objective about other people's money. It's more difficult to be objective when it's your own money. It's very easy to get stuck in non-productive modes of thought. Like hanging onto stuff hoping it will go up, a common fault among investors, at least according to some studies.
1 month ago