Managing Other People’s Investments

While I am flattered—and I mean this sincerely but I’m not a good enough internet writer to make the depth of my appreciation jump off the screen—that some of you have written to me asking that I manage some of your money, sadly, that is not something I can nor want to do.

First of all, I mean that literally: I don’t have the proper licensing to start taking on investors.

And secondly, even though I understand that the management of other’s assets “is where the money is” when it comes to the financial services industry, it’s not something I’ve had much of an inclination to do because most people are interested in twelve to twenty-four month returns, and I have little desire to spend my life defensively explaining to others why stock selections aren’t performing better than the S&P 500 Index over the past six months, year, three years, and you get the picture. If I wanted to beat the market over the next ten years or so by owning high-quality blue chips, it could be done: it would be a portfolio loaded with Visa, Becton Dickinson, Disney, and the like, but I’d have no ability to tell you whether those stocks will be winners in 2015, 2016, or 2015 through part of 2016. Being right over a fifteen year period isn’t something that would be enough for most people; they want to see that they are right at every annual benchmark along the way. I couldn’t do that, and I wouldn’t want the hassle.

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