My parents are my heroes. A lot of people say that, but for me, it’s true. It’s because of them that I got my start in finance…
My dad’s forte was business. We’d have long discussions about stocks, industries, and different types of investments. I didn’t know how to assess all these things when I was a kid, but thanks to my dad, I eventually learned.
My mom taught me to be a good person and to be empathetic. You can be a top-notch professional in the boardroom or a superstar on Wall Street … but you can still take time to help someone who needs it.
I took my parents’ lessons to heart. I started off by studying accounting as an undergrad, which led to a stint at a Fortune 100 company as senior accountant, controller and internal auditor.
I then earned my MBA from the University of Chicago before starting a decades-long stint as a bankruptcy consultant. Here, I really got my feet wet. I was able to advise companies — even cities — on how to turn around their businesses, all while keeping an empathetic eye out for them. It gave me deep insight into how companies work.
Working in the turnaround world helped me recognize what not to do. It taught me how to think like a insider — because I’ve been a part of those insider company teams.
Now I’m bringing my two proprietary trading strategies — Profit Line and Flow Matrix Alert — to Banyan Hill Publishing as an insider expert. My team and I spend a combined 800 hours a week vetting the very best picks every month. And I’m excited to bring these picks to my readers so that they can reap the profits.
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I used to be a turnaround consultant. Basically, I provided financial consulting and analysis services to struggling or bankrupt companies, along with their attorneys and lenders.
These services varied.
I would value a company or division … advise attorneys who had questions about the meaning of financial statements … run the accounting and finance division of a company.
My clients varied, too.
I worked with companies with billions of dollars in sales and those with a few million. I even worked with individuals in financial trouble.
I helped to rehabilitate companies, but sometimes they were too far gone.
That’s one of the things that stuck with me from working in this space…
I’ve seen people suffer more than they deserved to.
I’ve seen pension benefits get watered down. This was usually because when the business cycle turned down, management hadn’t squirreled away enough for a rainy day.
I’ve worked with people who put all their eggs in one basket. That’s just a saying until you see its grim effects.
One gentlemen I respected almost died when the employer stock he had pinned his and his wife’s retirement hopes on dropped suddenly.
Victor wasn’t young. I never learned his exact age, but he was more than halfway through his working career when I met him. Never fat, he became gaunt as the stock price fell.
Eventually, he was admitted to the hospital to address the debilitating effects of the stress.
I’ve never forgotten him.
The company eventually recovered and so did Victor’s retirement plan. He is still with us, but I imagine that experience cut some time off his life.
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Smart Profits Daily takes subscribers “behind the scenes” with candid insights on Wall Street’s most important financial headlines — insights that you can use to profit for yourself. You’ll hear from a team of seasoned investment experts six days a week. Best of all, it’s 100% FREE. To learn more, click here.