Reasons to be happy your a broker
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may be a little dated, but I wanted to share, some are cheesy some are good, you take the good w/ the bad…
Feeling discouraged? Here are 38 good
reasons to stay focused and positive.<o:p></o:p>
Ever feel like the markets, the media, and your prospects are all conspiring to break your will? If so, you're not alone—we all get a little discouraged from time to time. If you have a case of the blues, consider this list of 38 reasons to be happy you're in the financial advisory business. You'll be re-energized before you finish reading.
1. There are great, motivated people all around you—take inspiration from them. Look around your office, around your community, even around the nation. Consider people in our industry and outside of it. I met a couple last Sunday who had raised 55 foster children! Just talking to people like that makes me feel motivated.
2. Remember when clients thought they could invest online and do better than you? The investments they made look horrible now. You shouldn't have a hard time getting those accounts back.
3. There are new, investor-friendly tax changes, and more may be coming up. A stock paying a 3% dividend, now tax-free, is worth 25% more to that investor. Retirement plans have higher contribution limits.
4. Bonds have made money.
5. REITs have made money.
6. You have fewer competitors than you did one, two, or three years ago.
7. People in our business do the right thing, by and large. If a prospect shows you her statements and you see that her other advisor has done a good job, tell her—you'll be rewarded for it.
8. Everyone you know knows 200 people.
9. As my operations manager says, "How about the great choice and diversity of investments available? Everyone should be able to find something they feel comfortable with. Unlike real estate, insurance, and banks, you can find ways for people to make money, even in equities, whether the market goes up, down, or sideways."
10. Plus, you do more than equities. You could have a successful career from this point on and never touch equities again. I wouldn't advise it, but that's one of the benefits of the range of products and choices we have.
11. You haven't met your best client yet!
12. You're going to see Dow 20,000, 50,000, and maybe even 100,000 one day.
13. New people are being added to the ranks of the wealthy every day.
14. You still have something to learn.
15. You can create goodwill by giving small gifts, such as pocket calendars or books you enjoy, to clients and centers of influence.
16. Mutual funds that you have forgotten about are paying you 25 basis points right now, and every night as you sleep!
17. There are stocks, including REITs, utilities, and others, that pay 7.2%. At 7.2%, your money doubles every 10 years.
18. You can use income investments that are neutral if interest rates go up. Consider adjustable-rate mortgage funds, short-term government funds, step-up CDs, and TIPS.
19. We've experienced market volatility before. Talk to people who have been through this, ask what they did, and ask them whether it helped their business or hurt it in the long run.
20. There are things you can do now that you can't do when the market is hot—buy low, for instance.
21. You know more about investments than you did a year ago. I do—and I've been doing this for 23 years.
22. You have incredible outside resources, from contact management systems, to weekend seminars, to websites, to business coaches.
23. You have a reason to read inspirational books and listen to motivational tapes—activities that are among the most fun and potentially productive of those available to us.
24. Remember that kites rise against the wind, not with it.
25. Online trading firms are bye-bye.
26. John Templeton says that the real standard of living has quadrupled in his lifetime, which has never before happened in human history. Kids now live better than kings of 200 years ago.
27. You've won life's lottery by living in the United States. Warren Buffett says that when he was born, he only had a 1 in 50 chance of being born in this country. Society pays well for his skills. If he had been born a few hundred years ago, or in a different place, he says, he probably would have been eaten by a lion.
28. Our country is more stable today than it was last year.
29. The very wise advisor Doug Peart reminds us that mortgage payments are at a historic low. That means clients have more money available to invest.
30. You can earn fees on your client's loan business.
31. Inflation is amazingly low.
32. You could earn $10,000 with one phone call. Small efforts can produce great results.
33. Dividends are higher. This is partially a function of stock prices, but dividends on stocks are higher than a year ago and are benefiting from tax-friendly legislation.
34. Adversity has led to better tools. I don't know if you've noticed, but I think the print information from money managers, from investment companies, and probably even from your own firm has gotten better and better.
35. Annuities are better. Insurance companies have created enhanced "living" guarantees for clients. If you haven't considered them in a while, it may be time to take a fresh look.
36. You've already survived the hardest part. As the stock market continues to improve, you can be in a position to benefit.
37. You have better clients than you did a year ago. Most of those who were interested in short-term speculation rather than investing for the long term are gone. You have a core group of investors who value your expertise and are sticking with you.
38. You're better than you were a year ago. You know more, you're tougher, and you're more determined. You can't wait for next month. Bring it on!
[quote=jackofalltrades]may be a little dated, but I wanted to share, some are cheesy some are good, you take the good w/ the bad…
Feeling discouraged? Here are 38 good reasons to stay focused and positive.
Ever feel like the markets, the media, and your prospects are all conspiring to break your will? If so, you're not alone—we all get a little discouraged from time to time. If you have a case of the blues, consider this list of 38 reasons to be happy you're in the financial advisory business. You'll be re-energized before you finish reading.
1. There are great, motivated people all around you—take inspiration from them. Look around your office, around your community, even around the nation. Consider people in our industry and outside of it. I met a couple last Sunday who had raised 55 foster children! Just talking to people like that makes me feel motivated.
2. Remember when clients thought they could invest online and do better than you? The investments they made look horrible now. You shouldn't have a hard time getting those accounts back.
3. There are new, investor-friendly tax changes, and more may be coming up. A stock paying a 3% dividend, now tax-free, is worth 25% more to that investor. Retirement plans have higher contribution limits.
4. Bonds have made money.
5. REITs have made money.
6. You have fewer competitors than you did one, two, or three years ago.
7. People in our business do the right thing, by and large. If a prospect shows you her statements and you see that her other advisor has done a good job, tell her—you'll be rewarded for it.
8. Everyone you know knows 200 people.
9. As my operations manager says, "How about the great choice and diversity of investments available? Everyone should be able to find something they feel comfortable with. Unlike real estate, insurance, and banks, you can find ways for people to make money, even in equities, whether the market goes up, down, or sideways."
10. Plus, you do more than equities. You could have a successful career from this point on and never touch equities again. I wouldn't advise it, but that's one of the benefits of the range of products and choices we have.
11. You haven't met your best client yet!
12. You're going to see Dow 20,000, 50,000, and maybe even 100,000 one day.
13. New people are being added to the ranks of the wealthy every day.
14. You still have something to learn.
15. You can create goodwill by giving small gifts, such as pocket calendars or books you enjoy, to clients and centers of influence.
16. Mutual funds that you have forgotten about are paying you 25 basis points right now, and every night as you sleep!
17. There are stocks, including REITs, utilities, and others, that pay 7.2%. At 7.2%, your money doubles every 10 years.
18. You can use income investments that are neutral if interest rates go up. Consider adjustable-rate mortgage funds, short-term government funds, step-up CDs, and TIPS.
19. We've experienced market volatility before. Talk to people who have been through this, ask what they did, and ask them whether it helped their business or hurt it in the long run.
20. There are things you can do now that you can't do when the market is hot—buy low, for instance.
21. You know more about investments than you did a year ago. I do—and I've been doing this for 23 years.
22. You have incredible outside resources, from contact management systems, to weekend seminars, to websites, to business coaches.
23. You have a reason to read inspirational books and listen to motivational tapes—activities that are among the most fun and potentially productive of those available to us.
24. Remember that kites rise against the wind, not with it.
25. Online trading firms are bye-bye.
26. John Templeton says that the real standard of living has quadrupled in his lifetime, which has never before happened in human history. Kids now live better than kings of 200 years ago.
27. You've won life's lottery by living in the United States. Warren Buffett says that when he was born, he only had a 1 in 50 chance of being born in this country. Society pays well for his skills. If he had been born a few hundred years ago, or in a different place, he says, he probably would have been eaten by a lion.
28. Our country is more stable today than it was last year.
29. The very wise advisor Doug Peart reminds us that mortgage payments are at a historic low. That means clients have more money available to invest.
30. You can earn fees on your client's loan business.
31. Inflation is amazingly low.
32. You could earn $10,000 with one phone call. Small efforts can produce great results.
33. Dividends are higher. This is partially a function of stock prices, but dividends on stocks are higher than a year ago and are benefiting from tax-friendly legislation.
34. Adversity has led to better tools. I don't know if you've noticed, but I think the print information from money managers, from investment companies, and probably even from your own firm has gotten better and better.
35. Annuities are better. Insurance companies have created enhanced "living" guarantees for clients. If you haven't considered them in a while, it may be time to take a fresh look.
36. You've already survived the hardest part. As the stock market continues to improve, you can be in a position to benefit.
37. You have better clients than you did a year ago. Most of those who were interested in short-term speculation rather than investing for the long term are gone. You have a core group of investors who value your expertise and are sticking with you.
38. You're better than you were a year ago. You know more, you're tougher, and you're more determined. You can't wait for next month. Bring it on!
[/quote] This is pretty awesome. I truly do love this business b/c not everyone has the guts to do it. Most people would rather do a "safe" job that pays them a measly salary and benefits instead of taking risks like how we do. As my name states, I was an Army Officer and I loved it at first. I was 22 years and a Second Lieutenant in a combat unit; I thought I was sh*tting roses. One of the turning points that made me leave the military and go back into sales was this one story. I got promoted to Captain and got sent to work in a staff position (Brigade Operations Officer for the Veterans here). I was working with this other Captain who was already a Captain for about five years. This guy was a complete dud and loser. I was doing all of the work b/c our bosses wouldn't give him anything b/c he screwed it all up. One time I got so frustrated b/c while I was pounding away Operations Orders, he was surfing the net and I blurted out, "Hey, I was calling you Sir a month ago and now here I am doing all of the work while you goof off? And on top of that, you get paid more than I do b/c you're married and you signed the dotted line before I did; this is BS". He just looked at me and shrugged. I realized then that I loved the military but it wasn't a meritocracy and honestly, most careers are like that except for ours. WE control our fate, good or bad. Gotta love it . . .every once in a while I go through my old stuff I have had over the years and this one is always good, as I said earlier a little outdated, but still has a lot of things regarding the biz that will never change…
having a good outlook on what ever you do will get you to where you want to be faster… fortunately for us that means money in our business, as I have seen my share of negative folks, they never last…
Thanks for your service Army13A, and I am glad you are one of us now…
You're welcome jack, it means a lot when people thank Veterans. You're also absolutely right that "your attitude determines your altitude". I HATE negative people who just complain about everything. It's like come on people . . .We work in a business where we can walk in at 10am if we wanted to and still make a couple of grand in a couple of hours; that's not hard work. Working in the coal mines or being a lumberjack, THAT'S hard work.every once in a while I go through my old stuff I have had over the years and this one is always good, as I said earlier a little outdated, but still has a lot of things regarding the biz that will never change…
having a good outlook on what ever you do will get you to where you want to be faster… fortunately for us that means money in our business, as I have seen my share of negative folks, they never last…
Thanks for your service Army13A, and I am glad you are one of us now…
[/quote]
this is true I also think how lucky we are in this business, my next door neighbor is a brain surgeon and the other one is a COO for a large restaurant co. we all know.... both have spent most of their lives in school... I always find it interesting that if you work hard in this business you can be as successful as anyone else, even if they hold peoples brains in their hands throughout various parts of the day
you guys ever see the article a few years back on the stock broker who did a billion in gross...?
well I guess the term gross may be a bit misleading as it appears it was a fund, but then again I was off by a bil but who’s counting…
http://journalperu.com/?p=850
(JP-wb) — The name of the world’s most successful stockbroker is
John Arnold. The U.S. American earned US$ 2 billion in 2006, mainly
because his competition suffered major losses.
According to the latest edition of the magazine “Trader Monthly”, Arnold had previously worked for the now defunct American energy corporation Enron and is now heading his own company in Houston, Texas, named Centaurus Energy which has already tripled its invested capital.
The magazine listed the top-100 of the world’s best-earning brokers and apparently the wealthiest US hedge fund managers and traders became much richer in 2006. Five of them took home $1 billion or more each.
Arnold made a killing by being on the other side of the trading strategy used by his competition, Amaranth Advisors, after ill-fated trades triggered billions of dollars in losses over just a few days last fall, eventually forcing that hedge-fund firm to shut down.
In 2005, Amaranth earned a buckload of money by speculating on rising gas prices and hurricane Katrina was a blessing in disguise, at least for this firm. Katrina destroyed numerous gas production plants causing the gas price to jump into enormous heights.
Amaranth broker Brian Hunter tried to repeat his success story from the previous year but he failed, gas prices went own again. His company lost almost 65% of its total assets within one week, a staggering amount of 9.2 billion dollars.
Never before had a hedge fund company suffered such a blow. John Arnold on the other hand literally accepted the Amaranth bet by counting on weakening gas prices. Centaurus made a profit plus of 317 per cent.
The most important trading location in the last year was New York with 40 very successful brokerages, followed by London with 27. The top-100 earned on average about 241 million Dollar. Even brokers on the bottom the list made profits between 75 and 100 million dollar.
According to the magazine, 93 of the 100 brokers work for hedge funds, known for their aggressive investment strategies.
Also making the rich list, James Simons, who earned between $1.5 billion and $2 billion; Ed Lampert, who raked in between $1 billion and $1.5 billion; veteran T. Boone Pickens, who collected between $1 billion and $1.5 billion, and SAC Capital head Steven Cohen, who took home a cool $1 billion.