Stockbroker Expert?

I recently had a conversation with my stock broker, but during my conversation, I had another call (or Instant message actually coincidently, it was Chris), which I had to put off until I was finished conversing with my broker. When I called (or IM'd Chris back), I apologized and told him I had been talking to my broker. And to me, his reaction was somewhat surprised (not the shocking surprise, just the “interested” surprise) that I had a stock broker. To me, I had the feeling that he thought I was a seasoned expert in trading stocks. But in reality, I am not, which is why I told him is the reason I have a stock broker. I had told him that I was always interested in the markets, but I just do not have the expertise, as I knew that stock trading has so many intricacies to trading effectively (yes, my degree in Economics IS useful, for those that believe it is not...long story, but maybe one day I will tell you about it) and that I would never be able to become an expert (I mean, I’m interested in making money, just not the precise details). You see, I started trading stocks with my own everyday trading account from my banking institution. Buying a stock here and there from those “tips” you get at dinner party, or drinks with friends and associates. But, as most experiences go, I was not making the fortunes I thought I would be making (I mean who isn't kicking themselves for just coughing up that $100/share for Google). So, I thought to get into the game and learn some more about trading without losing my shirt, I thought it was best that I find a trusted professional who knows what is going on. My track record with my broker has been pretty good so far. Since transferring my fledging stock portfolio to my broker’s care, and watchful eye, he has doubled its value in only 12mths (knock on wood..just kidding Gord)!

Where am I going with this story you are asking. It’s simple. To be successful in business, you must not be afraid to seek out the help of professionals in that particular field of interest. I mean, you cannot build a building (if you are like me, let alone a garden shed) without a credible experienced individual guiding you with their knowledge. But at the same time, you can not be as naive as to not knowing some basics (as I know I do not need a titanium enforced garden shed to store my $100 lawn mower). With business, there is always a need for due diligence, but at the same time, a professional trusted opinion will help you go further. Too often, I see (and have experienced personally) some not so positive outcomes because a person thinks they can “do it themselves.” As a jooksing, I have (and maybe most of you fellow jooksings have heard this as well) heard this my whole life. “Why would you get someone to do it for you, you can do it yourself, and save the money.” In my case with my beginnings of stock trading…it actually cost me more to do it myself. Think about this. Which business’ (or even people) do you know of that are successful and at the same time, do everything themselves? As a someone who has heard a lot the remarks that I should do things myself, I (and my partners) am constantly catching myself in situations where I need to let those thoughts go. And as a jooksing, it is not an easy task to do, but I feel I will be better off in the long run for doing so.

P.S. Chris, your Grade 4 nightmare sounds just like mine! Except I didn't get my glasses until Grade 9. I guess I'm the millionth and one story. Boy, memories of growing up in the south of Calgary.

Owen
Business Editor