Quote:
Originally Posted by glgene
When we move to TV, we certainly want to join an Investors Club (1 or 2). That will be our part-time jobs...generating investment income to augment our retirement income.
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Your comment brings to mind what I decided to do along the lines of investment research and portfolio management shortly after I retired (many years ago and before we moved to TV). I was getting more information and data on various industries and companies than I could ever possibly read and comprehend. I was spending as much as two days a week pouring over all that boring stuff. (I was a banker and reviewing and interpreting financial statements was neither new or objectionable to me.)
After several months of this I finally concluded, "Why the heck am I doing this?" I had a good financial advisor, so good that he's been selected as one of the top 1,000 in America several times over the years. He was quietly putting up with my constant barrage of questions and interpretations of what I was studying. At one point he gently chastised me, saying, "Investing money is far different from lending money." So I began to give him greater and greater discretion over the management of my portfolio, beginning with about 10% and growing over a period of 6-7 years to complete discretion. Each year we agree on a set of benchmarks, against which to measure his performance. He has never failed to not only beat our benchmarks, but
clobber them!
I read your post in the context of my own experience. I know for sure that with all the activities available here, I wouldn't want to spend very much of my own time on wading thru a bunch of numbers and ratios. Having said that, I too wouldn't mind getting involved in an investment club. But I'd be doing it totally for the fun of it. For the real money, I'll leave it to my guru at Merrill Lynch.