[quote=inquisitive] [quote=stanwbrown]

[quote=rightway] [quote=Put Trader]For those of you who are studying for Series 7 or any of the others.

Note the intellectual disconnect in the comment, "It's a piece of cake, I got a 77"

Why would they not say, "It's hard as hell I was only able to get a 77!"

The reason is that they're satisfied with a D or a C just as long as they passed.

You don't want to model yourself after a slacker who does not set high standards for themselves and others.
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Yet you feel that having knowledge about Alpha, Beta, Standard Deviation, Sharp, Treynor, etc... is a waste of time.  You told us....to just get on the phone and sell!! 

Your an idiot Put.
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Poor old Put seems to think ML hands out lists that say "buy these funds for your client's portfolios" or "combine these managers in these percentages in your Consults accounts". He also seems to be a relic from days gone by when clients of means weren't smart enough to ask informed questions at their quarterly reviews.

I suppose his answer would "Hey buddy, my job's just to get your account here, the smart guys in NYC do all the thinking here"...

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Ah, you must be one of those guys who doesn't hand off his client assets to outside money managers...

You are a salesman.  You put on a horse and pony show.  You are paid handsomely for it.  You get clients in the door. 

If firms didn't need people to get clients in the door, why the hell would they pay you so much???  They wouldn't.

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Let me see if I can help you here.... I DO use outside managers, OTOH, it's MY job to combine those managers and their investment styles into a coherent portfolio that meets a specific client’s needs, and then be prepared to explain it to the client. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Perhaps you work somewhere where they hand you a list and say “sell these three funds in these percentages to everyone who walks through the door” or some such. Where I am we have a wide array of tools and the job is to apply them appropriately to specific situations. You must also have clients who aren’t informed enough to ask insightful questions. I can assure you boards of charities and foundations, not to mention HNW investors (most of them former business owners) won’t settle for some half-baked dog and pony show by a rep who thinks his job’s over when the ACAT forms are signed.

I agree with you about brokers who glorify themselves by trying to be securities analysts or shy away from being primarily salesmen and asset gatherers. OTOH, let’s not go overboard and pretend you can do business with sophisticated investors without doing your homework and being a professional.

"I agree with you about brokers who glorify themselves by trying to be securities analysts or shy away from being primarily salesmen and asset gatherers. OTOH, let’s not go overboard and pretend you can do business with sophisticated investors without doing your homework and being a professional."

<?:NAMESPACE PREFIX = O />Perfectly said...