Don’t intend for this to be a bitch and moan post, and I’m not sure there is really any real objective other than I feel like I need an outlet. This happens to be my only one,.
For those out there not engaged in money management, it can be pleasantly simple and maybe even entertaining to poke fun at those of us who foolishly choose to call ourselves portfolio managers. However, this business can be excrutiating, depressing, and frustrating. Generally, our biggest benefit to our clients is insulating themselves from their own stupidity, but often this task becomes impossible, usually at the time when client stupidity results in the most amount of damage to themselves.
While distracting myself with my insatiable curiosity through academic research, technology, and data visualization (just look at the last couple of years of posts) helps, I cannot forget that I get paid to manage money, which generally just ain’t no fun as failing is the norm, and the brief moments of “success” go unnoticed and disappear with no lasting memory or permanent effect.
Most would naively say go do something else, but I still feel this delusional quest really can help those few clients who trust and endure.