The Wealth Consigliere

Our annual rankings of top entertainment is optional. I hope you take your booster and view/listen to my recommendations.  It is optional.  I have been impacted by the pandemic (Paxlovid). I still need to be entertained, but I’m staying at home. My recommendations are broken into three areas. 1. Streaming 2 Podcasts and 3 Old school (TV and meme stocks). They will help you and keep you entertained. My favorites are: 1.) HBO Max https://www.hollywoodreporter.com/movies/movie-news/ethan-hawke-last-movie-stars-1235110861/ 2.)  TBOY https://open.spotify.com/show/0RrdRP2clWr5XCAYYA2j2A 3.). AMC Theaters  Vengeance   https://www.imdb.com/title/tt11976532/ My recommendation’s won’t hurt your arm or head, but they should entertain.   No extra research needed  

What do we do to solve our summer doldrums.  As a child we went to summer camp. As an adult we read books. Use your free time. It only comes once a year. Our monthly summary of good podcasts can help.  My favorites are: Emotionally Healthy.  https://emotionallyh.wpengine.com/podcast/ Who Killed Daphne.  https://www.google.com/search?q=who+killed+daphne+podcast&rlz=1CDGOYI_enUS990US990&oq=who+killed+daph&aqs=chrome.2.69i57j0i131i433i512j0i433i512j0i512l3.24517j1j4&hl=en-US&sourceid=chrome-mobile&ie=UTF-8#imgrc=uH9x2DRaNEzIsM%253A Legacy of Speed.   https://www.pushkin.fm/podcasts/legacy-of-speed Escape the Heat. 

  The most knowledgeable and powerful person in our office is my assistant. The January 6 testimony has proven this reality. Another important role we need to adjust the compensation and our interactions.  Our favorite podcasts can be listened to on a long commute back to the office. Our favorites are: Starting Five https://podcasts.apple.com/us/podcast/the-lead-starting-five/id1624552759 The Legacy of Speed https://www.pushkin.fm/podcasts/legacy-of-speed Persona https://music.amazon.com/podcasts/88a60f37-6c5d-44ae-8adb-02c6834a0fc1/persona-the-french-deception

Choosing a good partner is the most important decision we make in business and personally. We need to evaluate how this choice can make us better. The marriage choice in the US isn’t working. Credibility is important. How we develop and loose credibility is something we need tto understand. The way we calmly speak and our temper can have an impact.  One bad experience I had when building a company was not trademarking our brand name. Our name was unique and powerful. Unfortunately another firm agreed.  Happy 4th!!!

We suffer in the Information Age. Our problem is analysis paralysis. Data and computers can not replace human interaction. Our brain and heart still win.  We need our system of public service. Unfortunately we underpay most of the professionals who provide this important task.  We have unreasonable expectations not to accept laws. Nothing is perfect but we need to accept this reality. Life is not perfect.  We believe that we can do things better. The advertisements on TV and social media encourage us to try. 

 I need two types of people in my life. They are opposites.  One is a expert that will disagree. The other is as Barton Biggs defined them, a hedgehog who agrees with everything, but is consistently wrong.  Nothing good happens after midnight. We need to go home and go to sleep. The night time hours are when people make bad decisions. Go home.  We need to avoid rewarding the squeaky wheel. This phenomenon is true in numerous areas of our lives. We should encourage all to speak and not interrupt.  Unfortunately we make decisions based on the opinions of others. We need to use our own opinions.  

    We need an expert to disagree. Podcasts do that for me.  My monthly favorites delivered a no answer! My favorites are:                       The Lead- Starting 5 https://open.spotify.com/show/3y1VbeSonv072mTjX2DsJM                         Not Lost https://www.pushkin.fm/podcasts/not-lost Ukraine Cast https://www.bbc.co.uk/programmes/p0bqztzm I always have been told I need either a no-man or a person whose opinion is consistently wrong.  

  I was born and raised in Texas. I don’t hunt and I’m embarrassed by the state’s politics. We need change and I think we should change our state slogan to mess with guns. I’m frustrated and angry with our old gun laws. We should continue to evolve and improve. Unfortunately several of our laws do not. We need to update the laws so we don’t continue to kill each other. We eventually become angry with the current solutions. This stage will hopefully encourage us to change and improve. This doesn’t happen everyday. When we reach a certain level of frustration we realize we need to change.  I think our new slogan should be let’s do it for our kids! And stop picking on Texas. 

The compensation difference between CEOs and normal employees has reached an over draft limit. Public companies are allowing shareholders to vote on the CEO’s compensation package and several of the firm’s shareholders are voting No! Unfortunately the vote is not bidding but the CEO and their board need to pay attention.  One of the problems with a democracy is the power of our elected officials to interpret the constitution and make decisions. Many of these decisions are flawed and need to be overturned. Recently a decision to not enforce gun control ended in the deaths of numerous people. This is not the first time guns have caused problems.  Statistics can create a faulty comfort. The 100 year flood seems to happen every few years. We need to add new variables to our legacy statistics. The world is changing and we need to change our statistics.  We need to be less PC and take a stand with new variables. 

The pandemic is similar to my Freshman 15. My freshman year I ate and drank too much. My body rebelled by gaining weight and by giving me a consistent hangover that was my excuse for not going to class.  After the pain became intolerable I made some changes. I might not have been the first Freshman to overindulge.    Technology has made it easier to be a lifetime learner. We need to take advantage of these opportunities. The world is changing and we need to understand the changes. It is preferable to control our own curriculum.  The only good that came out of the pandemic is the need to change. What will you change?  Is it personal or professional. It could be both.  I am glad the pandemic is close to ending.  My wife and I have had COVID. Hope the antibodies protect us. I don’t want to go back to the office to drink the coffee. 

  The time I spend listening to podcasts is worth the effort. My monthly summary of the podcasts I enjoy is listed below: With the major news around abortion I want to learn more from the women it will impact. My favorite is Unwrapped.  https://www.thewrap.com/wrapwomen-launches-unwrapped-podcast-featuring-felicity-jones-vivica-a-fox-ashley-park-and-javicia-leslie/ I still enjoy good movies, even on my iPad. My favorite podcast is Close Up   https://abcaudio.com/podcasts/close-up/ My true crime favorite is Border Town.     https://podcasts.apple.com/us/podcast/border-city/id1616206237 Now that I don’t drive to work I must listen to podcasts when I walk. They are still worth my effort. 

 Some people don’t go to the town square. The square is helpful to understand what others are thinking. I’m surprised by the number of people that don’t use social media. The exercise can help you understand what others believe. It might be different but understanding will hopefully benefit you. Stay in the square.  Education and good teachers taught me habits that insure  and help me as an adult. They are to read looks and to increase my vocabulary. Several of my friends and classmates practice the same. Allowing us to show off with our improved vocabulary and books.  Don’t make decisions using customer surveys. The customer has an agenda that might not help. Our decisions should be based on conversations over meals. This gives us time to reach better decisions.  We can learn from the town square.  Some people in the square will be hucksters.  The more time will allow us to identify the people who just want to sell us something and some who have an ed...

 I just finished listening to the audio book about Bill Gross, the self appointed Bond King . Our founding fathers protected us from the king, unfortunately we weren’t protected from “ The Bond King” . Our forefathers started the US to get away from the king. We need to follow their lead and not create a king. The king doesn’t work for us or our forefathers. We want to be our own boss.  In business and war we need to understand when to surrender. We need to know when it is a good time to surrender. Our instincts are often too early. It is difficult to stay with a project. It is easier to quit.  Social media gives me confidence   Social media facilitates comparing ourselves to others who do the same job.  Unfortunately we are not Elon. He is a unique character and as our parents told us we shouldn’t compare ourselves to others. We are unique.  Our industry gives a lot of awards. I have been fortunate to win one. The award had a short shelf life.It was a pyrr...

  We fight and often dislike change. We all need to open our mind and try like Mike.  Driverless cars are here!  What impact will they have on our lives? It will be a slow adoption. Like many new technologies we will grow to love the driverless car. We were slow to adopt the internet and the iPhone too.  We and our law enforcement need tattletales.  As a child we disliked this, but our parents and teachers appreciated the information. NYC likes them as well even if we tell on ourself   Why do people follow us?  The easiest reason is our charisma. Our success starts with the definition of our position. We can be the boss or a parent. Our kids will eventually push back and claim “you are not the boss of me”. Our world is changing.  We need to accept this and go back to the office if we can.

The slap of Chris Rock confirmed to me that podcasts can deliver a message without violence. My monthly favorites are: Ukraine cast  https://www.bbc.co.uk/programmes/p0bqztzm Border City https://www.sandiegouniontribune.com/bordercity Winning Time https://www.audacy.com/podcasts/the-official-winning-time-podcast-86159 I haven’t been hit in the face since 4th Grade. I will never forget it though. 

Regardless of advances in technology, communication remains important. It is a two way street and both people have to be committed to getting their point across. Neither person can communicate if they don’t trust each other. If you are afraid. You can’t effectively communicate either.  We are allways looking for short cuts. Unfortunately most short cuts don’t work. Recently SPACs seemed like a shortcut for an IPO. The average SPAC is down in value.  The shortcut didn’t work and the regulators are examining how we can improve.  Many good inventions like the booster shot are good but with the good comes side effects. My body aches but thankfully I won’t catch COVID. The trade off seems worth it. I will take the difficult side effects to remain healthy.   My nurse told me to expect side effects from my booster shot. I didn’t believe her and I was in bed for a day. Communication was lacking on my side. 

  I have shared with my coworkers that a checkbook makes recruiting easier. Money is too powerful. We worry if  we are being paid what we are worth. The discussion is circular. Our business has one opinion and it is different than ours. Can we find a common ground?  If we can that conclusion reveals a lot.  Our country still has a problem with diversity. The problem manifests itself with women and minorities. We need to address and solve this issue. John Stewart’s TV recent episode can help.  People can fool us with their charisma. We need to do further questing before we commit. Charisma is seductive. We can fall for its power like we did for WeWork.  Money is powerful.  It works it’s spell on me and Wall Street.  Be careful out there. My insecurities say money made me a great recruiter. The brand helped too.  

We are all motivated by different items. Scientists are motivated by discovery. Some people are motivated by money. Unfortunately the two pursuits are not paid the same. We need to shift our focus to pay inequality in this area. Capitalism makes vocation allocation mistakes. Woman and teachers remain underpaid.  The British have great advice. We need to mind the gap when riding the subway and working. Each mistake can cost us our life and cause our company to fail. We need to mind the capitalism gap too. My morning song from TikTok sets a positive tone for my day. My favorite group is The Carpenters. Love and miss Karen and her amazing voice. No shame here.   We continue to examine the veracity of our long held beliefs.  The new generation questions us and we should listen.

Fresh ideas are intriguing. Their track record of success needs to be examined. The new ideas catch our attention, but further research needs to be done.  Our monthly list of podcasts has some good ideas.  Wild Things still captures my attention.  https://www.audible.com/pd/Podcast/B08K561HWQ We all have many unsung heroes.  https://hiddenbrain.org/myunsunghero/ Michael Lewis has done it again. His 5 podcasts entitled Other People’s Money nails the wealth advisory business.  https://www.pushkin.fm/show/against-the-rules-with-michael-lewis/ I’m always searching for new ideas. Enjoy these podcasts. Hope you find some new ideas 💡 

My New York manager required he meet the recruit’s Spouse before he finalized a job offer.  The secret weapon of any business is the spouse. The spouse will honestly evaluate the success of the enterprise and provide  support to the leader. The spouse is the leader and their opinions matter and are rooted in love. This dynamic will help win Ukraine's  war.  Bravery is something we try and teach our children. It is easier said than done and ultimately can cost us our life. This matters when we are starting big projects. While it can feel like life and death. Our approach needs to take that reality into consideration. Our bravery can help us achieve difficult tasks.  Elections have reminded us of the effectiveness of endorsements. I do not vote based off an endorsement. They might make good commercials but their half-life is short for me.  Choose your spouse well. It’s a lasting relationship.  Happy Birthday Jr

Our world is going backwards. The shelters we built for other problems can help.   Global warming, the pandemic and war have caused us to seek shelter. The shelters were not built for our current problems. They are effective, but they don’t solve our problems.  How long can we celebrate? The significant events should be celebrated for more than a day. My milestone birthday is celebrated for numerous days. Each day allows memories that shouldn’t be forgotten.  Back to work. We hope it will be different in 2022. I have evolved to solve my clients problems using defined solutions. I realize I can time and predict the stock market.  We need to accept our reality and seek shelter. Putin needs to help us too   

Low interest rates have facilitated our growth. We all need to grow, but the likelihood of the Fed raising rates will cause most of us to adjust our growth plan. The growth in our business is has two components. The easy one is inorganic growth caused by acquisitions. The other growth we control is organic growth. While this approach is difficult it is enduring.  Senior management is the goal of many professionals. The reason allows control and compensation. The managers can make the rules. The rules often benefit the managers. This corporate largess needs to be addressed.  Our stock website picture matters. The picture that we post on our website and we email to reporters is enduring. We need to take our approach seriously and work with professional photographers.  The Rams proved that defense wins championships. This mantra is difficult to implement and is another sports reality that can help. Defense requires work and the impact is not as noticeable as other tasks. The...

 I believe that senior citizens are discriminated against. The frustration is that senior’s have a lot of life experiences we need to share. Making the decision to write off a senior is a mistake. We won’t make this mistake on our podcast. We need to listen and respect our elders.  Our elders demand our attention while they are still alive. I’m not dead yet! Technology has created FOMO. How we accept and deal with this reality can be overcome. Start with not checking your Facebook feed. Nobody had as good of a life as Facebook depicts.  My brain spins like a Ferris Wheel. I need to take a deep breath and ask it to slowdown. The mind has its own speed. We need to accept this speed and ask it to slowdown. Our elders live at a slower pace.  So should we… The reason we enjoy certain people is an intangible. That quality exists but it is unique. Good friends have this but putting your finger on the specific is challenging. Good people have an intangible glow.  Don’t ...

  The ice in Dallas gave me extra time to listen to my favorite podcasts.  Suspect   https://wondery.com/shows/suspect/ Wild Things   https://www.imore.com/how-listen-wild-things-siegfried-roy-apple-podcasts  Hope the weather warms up soon. 

After numerous delays I am joining the podcast industry. .  My podcast tittle is I’m Not Dead Yet. . This is a catchy phrase stolen from Monty Python. It has numerous definitions that can enhance my podcast. Age discrimination is real and impacting me as an experienced 59 year old. I hope to share my thoughts and experiences on my podcast. More information to follow…

 We need to figure out what we are good at and enjoy. The exercise is imperative to our happiness and success. The aptitude’s are identified as we live our lives. Finding a firm that that requires our aptitude will benefit both parties. 

As we enter a new year I will not have predictions. Predictions insult your intelligence. What I have noticed over my 200+ blogs is that many of our challenges in the wealth advisory industry are similar to challenges in other industries. I will start 2022 with the challenge of adding professionals who have experience.   We all want to add experienced professionals. How we glean their experience is important. They don’t want our job, but they do want us to listen. Their experience can be an invaluable asset if we listen. Listening also requires asking good questions.  Happy New Year 🎆