I don't like my broker

There appears to be lack of respect among brokers and their clients when communication remains vague and artificial and believe it to be the majority of cases. But then one moves to an online account where the costs are low but the navigation and paperwork is time consuming. Others subscribe to newsletters with the idea of hidden knowledge but in the end one realizes the fallibility that is inherent in all men. There are pros and cons to everything, but I believe it is best to have a broker that speaks his mind like Jim Cramer and ultimately the reason why he continues to have a show at the end of the week: entertainment and empathy. And that ultimately should guide ones investment approach for long term investments.

Of course, Artie in the Sopranos couldn't keep his mouth shut so he lost a lot of business in his restaurant, but at the end of the day he cares about what he serves. One needs to be flexible but also focus on the meat and potatoes because that is where survival is dependent on.

One needs to enjoy the industry and sector he places his money in and have a feeling WHY he is doing it as well. Today, I read in the Economist how LTCM succeeded in making billions of dollars and losing it as well. Ultimately, they made pennies on overleveraged positions; very much like Coca Cola makes on a can of coke, but their leverage isn't ridiculous. And that is what one has to have in mind when trading in the stock market: thick and hefty profits. Forget about the pennies and the ultra low commissions, but the inherent value a company can share with the shareholder. ETFC may be a dog with declining customer base, but they are in a great business but with a bad balance sheet, but unlike leveraged positions to make a few pennies, one dollar invested in this stock has the potential to yield 10 dollars if they can remain solvent and their subprime bonds pay off. You can lose dollar, but make a 1000%, this type of thinking reduces stress since you don't need to be right all the time. In baseball, a slugger usually bats below .300 so if we can a little bit more consistent and less nervous great wealth shall come but it may not all be monetary.

That is not gambling and it is not investing but what is called contentment and that is priceless. Something which I hope to impart in my blog.