A Day in the Life

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Mar 2, 2007 10:03 am

What's the typical day like for you seasoned vets working at major wirehouses? Break it down hour by hour, your routines, what works for you and what doesn't. Thanks.


Mar 2, 2007 10:46 am

Is it just me, or are these new posters getting more and more demanding? 

Mar 2, 2007 11:10 am

Successmagnet,


Not to put too fina a point on it but...


Asking people who spend hours per day in this playpen (usually making fun of other people who are such losers that they spend hours per day in this playpen) what their workday is like is an exercize in futility.


First of all, none of us wants to ADMIT (to ourselves, let alone publically) that we're really A.D.D. geeks who could use a good dosing of Ritilan or that other A.D.D. drug (The one that had the picture of the kid waiting on the front steps to have a game of catch with good old dad when he came home from work. All his homework was already done! Except that he had a goofy grin on his face, his hat was on sideways and he had his baseball glove on on the wrong hand! Aderol I think it was!)


For myself, I watch the news before I get to work (check this place whack a mole if one sticks his head up. Respond to people who have responded to my posts.). I read the times online when I get to work (my commute is about three minutes). I turn on CNBC in the background. I look at the market, check my stocks for price breakout, price break down, news, etc.


Depending on the action in my stocks will determine my actions from there. If there is a position that has broken higher (like GMR did last week) and my clients have a net 20% they get a phone call and we SELL! I start with the people that are at the bottom of the 20% (not to brag, but I loaded up on it in January and 95% of clients were up better than 20%, net of all fees and commissions!) list and work my way up the position list given that the top of the list has some cushion just in case the market comes to its senses and starts to sell down.


If the news is bad, then people get a call to explain what I think we ought to do (we rarely actually sell the day of the bad news).


Most days, nothing big is happening.


Then I do the supervision thing. Check yesterdays trades etc etc etc. This includes running through the E-Mails and delegating the work/problems that they bring in.


Hit the RR site and make a few brilliant comments.


Make some coffee! That reminds me! Be right back... OK.. SSSSLLLURRRPPPP, AHHHHHHHHH. Where was I ?


By now it's 10:30 (unless I have a runner, in which case it's 4:00)


Now I'm shopping around for good bonds or bond swaps or other fixed income ideas.


Calls are coming in, I answer the phone when its for me, or when it's rung thrice.


There's a problem with the phone system, the internet is down, my computer won't work, "Whom, there's a guy here from WB Mason, do we want a new catalog?" "Sure! We need something new for the bathroom reading!"


Ignore the idiocy coming from the CNBC...


"Hi! I'm JoedaWholesaler! Wanna buy my annuity?"


LUNCH!


Phone rings, some buddy or other looking to have a few good belly laughs. Could be big Bro... there's gonna be laughs for sure!


Call a few of the brokers in and around town, try to recruit them over.


Watch the market, visit the RR site, see if there's any life.


Review client accounts, make sure there aren't pieces swinging in the breeze, make sure I'm keeping the core positions in balance. Anticipate future problems in the accounts and firgure out a fix before it becomes a problem.


Laugh some more with the guys around the office. Yell at the knuckleheads on CNBC. Check the other sites I frequent. Generally waste time, enjoy my muy, muy life!


Go home, have a Sapphire Martini DRY! Sit down to a hot meal with my wife, my children and my Father In Law at the dining room table. Talk about what's important to the children and the wife. then when they're done Pop and I get down to the nitty gritty of politics and current events of the day (I always feel like I've let him down when I spent too much time here and I've either dosed myself out on Current Events or didn't catch up on them sufficiently.

Mar 2, 2007 11:23 am

Whomitmayconcer,


Okay, I want your life! How much you want for it?


Here I am contemplating a career change and the seeming insurmountable odds against getting to where you are.



Mar 2, 2007 11:26 am

By now it's 10:30 (unless I have a runner, in which case it's 4:00)


what's a runner? Appointment?

Mar 2, 2007 11:28 am
babbling looney:

Is it just me, or are these new posters getting more and more demanding? 


This isn't a demand. I'm giving all you inflated egos an opportunity to talk about your favorite subject - yourselves!


Mar 2, 2007 11:51 am

A runner is a stock that's up to the twenty percent trigger. I may have it in 60, 70 accounts, it's an all dayer sometimes.


Got to make the hay while the sun it is shining!

Mar 2, 2007 1:18 pm
babbling looney:

Is it just me, or are these new posters getting more and more demanding? 



I am with you.  You either have idiots like Whom, who somehow has all day to write lengthy diatribes.


The funnies part is that he thinks someone actually would care enough about what he writes to read that dribble

Mar 2, 2007 1:38 pm

The word is drivel not dribble.


Dribble is what your nurse is wiping off your chin.


At least I think that's what it is.

Mar 2, 2007 2:32 pm

You are correct; it is "drivel."  What a fine display of verbal acumen.

Mar 2, 2007 2:37 pm

... and then one day I heard someone say 'draw!' and i turned around, and it was a 9 year old kid!"

Mar 2, 2007 2:52 pm

I'll take a shot at explaining what I got out of Whom's response. You've got to be able to visualize what you're looking for in order to get there. Since I'm not where you guys are but would like to be (hence the posting under 'Rookies & Trainees') I want to get a sense of day to day life as a seasoned rep. It actually is very motivational and I have been getting alot out of Whomitmayconcer's postings. I have received a lot of very valuable feedback on this site, despite the mudslinging (which is entertaining in itself).



Mar 3, 2007 2:59 pm

The most successful reps regardless of environment have the same thing in common.  They spend their days seeing people and fighting to see them.  Everything else gets delegated or done before 8:00 or after 4:00.


Ex. If you find yourself opening your mail, you're f**king up.