|I had never hired an investment management corporation in the past. In fact, I always took a very hands-on approach to business. I learned it from my dad - an entrepreneur himself. He did not believe in investment capital management with the help of a broker. He amassed a financial fortune, and all while doing the paperwork himself. Yes, he worked about 80 hours a week and had a fatal hearth attack at the age of 58, so there are things about his life that I don't really want to do. Even so, managing investment myself was a difficult habit to break.
Nonetheless, sooner or later I just couldn't handle it anymore. I am not sure if my investment portfolio had grown too diverse, too large, or if I just didn't have my dad's skill for figures. Whatever the reason, I didn't have the time to manage the family business and take care of my investments. Something had to give, and it was obvious what it was. I hired a good capital asset management corporation the very next week.
Many things have been difficult about the new investment management corporation. The most difficult, of course, has been giving up some control on my investments. When I first hired the investments management company, I tried to keep as tight a leash as possible. I needed to know about every transaction, consent to each decision, and in general. Always keep my hands in the pie. After a while, my broker spoke to me honestly. He said that there was no need to have an investment manager if I was going to try to do all the work anyway. He then asked me very clearly if I wanted him to do my investment management or not. I backed down, knowing he was right.
Recognizing the fact that this firm has done a better job than I have was the hardest thing about investment management. Even with the cash that they charge me, I am still making a huge amount more off of my investments than I had in the past. My investment portfolio has grown at twice its regular rate the last twelve months, and it does not seem that it is going to slow down. I had almost expected having to take control back at first. Part of me was even hoping that investment management would turn out to be a bad experiment. After all, it is not easy to admit that a third party can be more efficient than you are.
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