Wednesday, January 03, 2018

I got Fired?

     Yes, I got fired from my side gig. I made my client 32% for the year ( not a misprint, 32% ). This is actual cash in the account profit, not paper profits. I can understand ( not really but everyone has to do what they feel is best ) because I was managing an IRA and he was leaving the profits in the account and just paying me out of his pocket. My 3.2% (10% of the 32% profit) seemed excessive to him, but if I made him nothing I got NOTHING.

   He was a "buy and hold" investor for decades (with the steady albeit small gains) but has followed my tutelage and not thinks he is smarter than the teacher.

   Well it was a nice run while it lasted but at least I will have more time because I can no long dedicate 3+ hours a day on the phone with him.


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