NASD Newbie

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Aug 22, 2006 11:23 pm

This is my first (but not last) post.



I have been reviewing the archives and I notice that NASD Newbie offers
some negative insights into young men who are entering into the
industry. I am 24 years old and have trained at Oppenheimer only to
make a switch to a major wirehouse and complete their training program.
One argument often presented by NASD Newbie and many others is, "no one
will trust a 24 year old child with his retirement assets", while this
argument has merit it should be examined in further detail. Why do most
young adults fail in this industry? The answer is a lack of maturity.
Most 24 year olds lack maturity and it is evident in the way that they
present themselves to their prospects. This is not to say that all 24
years olds and the like lack maturity. It should be noted that many
young adults entering into this industry are very well educated and
come from backgrounds that would put most of us to shame. I am not one
to make assumptions, but just by passing the series 7 alone an advisor
in the industry has established some credibility. I must counter with
the question, why do these wirehouses spend lots of money in salary and
health benefits if the presumption is that young adults cannont make it
in the industry? Are the naieve? Or could it be that success at a young
age should be examined on an individual basis rather than the
population as a whole? In the words of Bill O'Reilly, pithy comments
are appreciated, and remember, no bloviating.

Aug 23, 2006 7:23 am

The only people who think that 24 year olds are "mature" are other 24 year olds.


Well educated?  Compared to what?  If you think you're well educated compared to a fifty year old man who is also well educated you're wrong.  Not only did the older guy get educated when there were standards in the schools, he has a twenty-five year head start on learning the elusive "lessons of life."


Passing Series 7 builds credibility?  How does that work?  Your clients don't know what it is, much less if it's hard or easy.  A passing score is 70%--that means you can pass even though you don't know 30% of what you're supposed to know.


Get back with us when you get a CFP, that is the only designation that offers a bit of crediblity.


What you children keep failing to recognize is that it's more than being able to explain something you learned somewhere along the way--it's the ability to get the investor to write a check.


Do not mistake going out on a date with having a proposal of marriage accepted.


And don't go admire yourself in the mirror and conclude that you "look mature for your age."  You don't.


Y'all seem to think that somebody who is 50 doesn't know what it is like to be 25--they do, and 30, and 35, and 40, and 45.  They're going to blow your young butt away in any competition you attempt to engage in.


I was twenty-four--and when I was I was the smartest, best looking, most motivated person on earth.  Just like every other 24 year old.


You may not believe this, but I had a lot to learn.  Still do.

Aug 23, 2006 7:30 am

"You may not believe this, but I had a lot to learn.  Still do."


Far more than you can even imagine, Putsy.

Aug 23, 2006 7:59 am
Philo Kvetch:

"You may not believe this, but I had a lot to learn.  Still do."


Far more than you can even imagine, Putsy.



I miss jymmym. He was a much better loser than this guy.

Aug 23, 2006 8:03 am
knucklehead:
Philo Kvetch:

"You may not believe this, but I had a lot to learn.  Still do."


Far more than you can even imagine, Putsy.



I miss jymmym. He was a much better loser than this guy.



How would a guy who joined last month know somebody who I have never heard of, yet I've been here for about a year?


I suspect there is but one drunk lying beside the building as the rest of us walk by--and he alternates between Philo/Knucklehead/Starka and others.


Filled with inner rage due to a string of failures that he thinks is bad luck.

Aug 23, 2006 8:31 am

I hate to agree with Newbie but I do. I am in my 30's have the CFP and fight hard for credibility a 50 year gets just by being old (which shows the ignorance of our society).



At 24 you can conquer the world (good for you), just wait until you fail a bit then you'll be brought back to reality (one of lives lessons). You must fail many many times before you'll succeed a concept a 24 year old whose invincible won't get until they are older.



Like I have said a million times start at a fund company or as an assistant, you'll appreciate the advice when you join the million dollar club.

Aug 23, 2006 8:38 am

Luck is what you make it, Putsy.


Even if your statement was true (which coincidentally it's not, but that's nothing new for you), it pales by comparison with your proliferation of aliases on these boards.  People who live in glass houses and all that notwithstanding, your problem is that you simply can't stand it when others show up the numerous fallacies in your arguments.  Personally, I don't care how wrong you are...makes no difference to me.  What I object to is the fact that if someone new to our business heeds your putrid nonsense, they can very well end up in deep regulatory water, being fined monies that they don't have and possibly ending what might be a promising career, all for the sake of your amusement.


I find that trait in you, Putsy/Lieberman/Big Easy/NASD Newbie/ et al, to be despicable. 

Aug 23, 2006 8:51 am
Philo Kvetch:

What I object to is the fact that if someone new to our business heeds your putrid nonsense, they can very well end up in deep regulatory water, being fined monies that they don't have and possibly ending what might be a promising career, all for the sake of your amusement.

I find that trait in you, Putsy/Lieberman/Big Easy/NASD Newbie/ et al, to be despicable. 


First of all, don't lump me into your "Putsy" fetish.  Secondly, yes, if you feel that specific comments could create a regulatory mess, let's hear about it.  However, your only posts lately are two line hate responses to his posts.  No one cares to read that, Philo.

Aug 23, 2006 8:57 am
bankrep1:

I hate to agree with Newbie but I do. I am in my 30's have the CFP and fight hard for credibility a 50 year gets just by being old (which shows the ignorance of our society).

At 24 you can conquer the world (good for you), just wait until you fail a bit then you'll be brought back to reality (one of lives lessons). You must fail many many times before you'll succeed a concept a 24 year old whose invincible won't get until they are older.

Like I have said a million times start at a fund company or as an assistant, you'll appreciate the advice when you join the million dollar club.


First, fifty is not old--it is older, but it is not old.  Your prime earnings years will be from 50 to 65.


Second, Bankrep is just another example of how uneducated you kids are--you actually do not know things like the two I underlined in the above discussion.


I realize that this is a message board not a term paper--but those words are not misspelled so your spell checker will not stop on them.


It is illustrative of what I have talked about regarding why the wirehouses found it necessary to morph into asset gatherers--it's a sad commentary on our society but if you're under age 40 you are just not very well educated.


Nobody ever corrected you because to do so would hurt your self esteem, and starting about the time you kids were in grade school things like self esteem and an acceptance of diversity became more important than your ability to read, write and sum.


It seems benign enough, does it really matter if you can't spell as long as you can be understood?  Perhaps when you're older and nobody can spell it won't matter, but as long as those of us who can are still alive and making the decisions that affect your lives you'd be wise to be attempt to "connect" with us.


Your day will come, and some twenty-five year old college graduate will write a letter filled with misspelled words--but it won't matter because you won't know they're misspelled.


Eventually the smartest man in town will be the doctor, and all he will know is that it's a bad idea to pee in the river upstream from where the people get their drinking water.


Aug 23, 2006 8:58 am

You joined under the moniker 'Lieberman' yesterday, Putsy.


Give it a break, will ya?

Aug 23, 2006 9:49 am

Wrong again, Phil.  Your last names suits you well, however.


Give it a break, will ya?

Aug 23, 2006 12:39 pm
Lieberman:

Wrong again, Phil.  Your last names suits you well, however.


Give it a break, will ya?



August 22, 2006 was yesterday, Putsy. 


Where is that wrong?

Aug 23, 2006 12:43 pm
Philo Kvetch:
Lieberman:

Wrong again, Phil.  Your last names suits you well, however.


Give it a break, will ya?


August 22, 2006 was yesterday, Putsy. 


Where is that wrong?



He has so many multiple personalities that he's losing track of which one did what and when!!!

Aug 23, 2006 12:46 pm
joedabrkr:
Philo Kvetch:
Lieberman:

Wrong again, Phil.  Your last names suits you well, however.


Give it a break, will ya?



August 22, 2006 was yesterday, Putsy. 


Where is that wrong?




He has so many multiple personalities that he's losing track of which one did what and when!!!


What makes you two dimbulbs conclude that I use more than one name?


I'll join Lieberman and assure you that he and I are not the same person.

Aug 23, 2006 1:31 pm

I started this subject and my first post has been censured (deleted). So be it.  NASD Newbie is IMHO a dangerous poster. The more we answer his posts the more brazen he becomes in spewing his out-dated drivel.  I feel his only reason to be on this post is to feel important.  Unfortunately he is a pathetic has-been that has more time to spend on this board than with family or friends and has to post pics of his life to feel alive. Just check the frequency of his posts, not to mention times of day.


As in my first post, I suggest that we ignore this poster rather than waste our time and letting his posts get the better of us.

Aug 23, 2006 1:35 pm

Okay I'm a bit lazy and didn't check the "General" subjects and my original post wasn't censured.  It's still there.  It's not like I am confused about discretion or what compliance and branch managers do.


I still say that NASD Newbie is a dangerous poster.

Aug 23, 2006 1:43 pm

Without citing examples of where I'm wrong you come across as just another whiner.


Tell me where I'm wrong.  Don't tell me that I'd be wrong if I worked where you work, tell me I"d be wrong according to the NASD manual.

Aug 23, 2006 1:48 pm
NASD Newbie:

I'll join Lieberman and assure you that he and I are not the same person.


Hey NASD - how do you know that I am a "he?"

Aug 23, 2006 1:55 pm
Lieberman:
NASD Newbie:

I'll join Lieberman and assure you that he and I are not the same person.


Hey NASD - how do you know that I am a "he?"



Good Point, you may be a doll.

Aug 23, 2006 2:47 pm

Wow - clash of the egos.  Again, NASD Newbie - where do you ever find time to produce?


Anyway, kujhawks - age is only an issue when you make it an issue.  Don't let us old farts discourage you from joining the club.