Recently, I had a meeting with a long-time client who has supported my work for over 20 years. This particular client has seen his returns over the years, the result of my team’s hard work. That is why he is still with me after all this time. In our show business, long-term numbers speak louder than opinions.
He looked at me and said, “I would never want to be in your shoes, it is a tough job.” He is not wrong. Navigating the ever-unpredictable markets is one thing, dealing with investors who sometimes let their emotions run wilder than the stock charts is another challenge altogether.
That said, I have been fortunate to receive plenty of recognition from partners and clients over the last 30 years. I joked with him, “You need to have a thick skin in this industry. If not, you better grow one fast.”
He laughed but we both knew there was truth in that. Watching top-performing investments with expectation-shattering returns plunge into the red can unsettle even the most seasoned investors.
Over time, I have been called someone who does not understand the basics of financial markets. On many occasions, I simply kept quiet, nodding along like just another clueless fool because more often than not I have found that silence is the best strategy and let people enjoy their own monologue.
I have also been accused of being rude to someone I have never even dealt with. Of course, being offshore means I have been labeled as biased against local investments because apparently, geography now determines investment objectivity.
I have been called fake simply because I refused to share information that is private to my clients. Somehow, respecting confidentiality is now a crime. Let us not forget the people who mistake their net worth for wisdom. Some with lots of money think it gives them the right to talk down to others.
Hey, wait a minute, then there are the emails. Every week, I hear from investors telling me that something I did helped them avoid some troubles or make sense of the market’s latest meltdown. Honestly, that makes all the noise worth it.
I have learned that you cannot engage with everyone and honestly, I choose to deal with people especially investors selectively. Some conversations add value, while others are just like market noise, loud, distracting, and best ignored.
While I value strong relationships, I also believe that mutual respect is key. Not every investor is the right fit regardless of his or her wealth.