Yahoo Finance tells us how awful life is a for a money manager these days. It's so gosh darned stressful managing $100M. It's so darned stressful some of these multi-millionaires have to turn to drugs and alcohol just to make it through the day. My goodness who knew?
This type of story infuriates me whether it is about money managers or about "working people". If your job is so freaking stressful, quit. This goes for you Mr. Fancy Pants Wall St. Guy as well as for anyone else. Hell I have plenty of stress in my life. Who doesn't? Difference is I don't go crying to the media with my tales of woe.
I do like this quote
The psychic toll extracted by the market is seldom discussed outside the home or
small circles of friends. "Wall Street is supposed to be a tough crowd, and most
people just suck it up," says recruiter Alan Hilliker of executive search firm
Egon Zehnder International.
Real tough crowd eh? When the going gets tough they a) make calls to Ben Bernake for a bailout then b) hit the bottle and finally c) see their drug dealer. I'm surprised there isn't a stamp out honoring the courage of this group.
Hey boys here's a tip on how not to stress out: when there are trillions of dollars of MBS junk out there, you get the f**k out of the markets. You don't delude yourself into thinking all is well. You don't drink Kudlow's Kool-Aid. My little Roth IRA account has beaten 90% of all mutual funds in the past 18 months managed by your truly. No stress here. No addictions here. Lots of common sense here however. Try using some of that and a little less of the alcohol/drugs and you too might just be OK.