When passion becomes a calling...
...and a calling becomes a profession. And there aren't many professions with a reputation worse than a banker's, broker's, or even more perfidious, a trader's. This special species is often stigmatised as ‘gamblers’. People generally point to them as the cause of major financial crises.
But - why?
How it all started
Uwe Schubert, Founder and Partner
At the end of 2007, I used an asset manager in Marbella to deposit a seven-digit sum in a private bank. Much to my dismay, quite a large amount of that money quickly vanished like ice cream in the sun. As my account continued to shrink, they drove ever larger cars ...
I became one of the many to lose all faith in the financial market and blame every advisor and asset manager there was to blame. Unjustly, as it turned out, because I could not have chosen a worse time to invest my money: the subprime crisis and the bankruptcy of the Lehman Brothers were in full swing and incurring heavy losses on investors' accounts. Because I was naïve and had quickly lost all faith in the financial market, I withdrew my capital and invested it in holiday rentals.
But as it turned out, my then asset manager had in fact given me the right advice...
YOU are supposed to know these things!
Friends and family often ask what our proprietary trading firm considers as today's best investments: Whose stock should I buy? What’s the deal with gold? When will the price of oil go up again? Or should I wait for a while...?
And all I ever do is shrug and say: I have no clue! This is when I get this look of incredulity just before they say: But you are the stock market expert, you're supposed to know these things?!
The explanation is simple: You CANNOT predict Prices - Never ever!