Career Next Step Decision - Help!

[Vzdoh]

Hey guys, 

So I wanted to ask for your perspective on career choices I have in front of me and see what you say. End decision is obviously on me. But 3rd party view won't hurt I guess. 

So I worked in IT program management for 12 years until like 35 years old and then switched to finance, i. e. financial advisory, money management, investments abd markets. It was always my hobby for past 10+ years, I traded my own account and did multiple courses, including CFA. Then decided to switch, following my passion for markets basically, but also I wanted to help others invest their savings, so helping and contributing to others financial health was important to me and still is. 

I started as an independent financial advisor with basics like insurance and mutual funds, ETFs and basic portfolios. I did do a master of science degree in wealth management as well in 1 year while still in my previous job. 

In 2 years as a financial advisor, I acquired enough clients and AUM and learnt a lot about insurance and realised I need to leave to continue growing in investment expertise. Via a common friend, I got introduced and then hired by a small asset management firm, where I am now playing a role of a private banker/portfolio manager. I do my own macro analysis and research and invest accordingly. 

I have been with the firm now for 2 years and now found myself basically helping rich people to get richer. So contribution aspect has kinda disappeared. I still love the thrill of the markets and putting on trades, but I am bored and want to learn maybe new trading strategies, hedging etc. 

Also I realised that clients only care about P/L and when I am not making money, they get frustrated. And that impacts my stress levels more than sitting in a say losing position until it recovers. 

So I am kinda at cross roads what now? 

Possible routes I see:

1) Study quant trading strategies and Python programming and join a hedgefund. No clients. Only me and the market and the P/L. Huge income bump. Probably making half a mil per year or more. But I don't see how it aligns with my life purpose of contribution to others. Can't force myself to do it with only money motivation. 

2) Same as above but instead of joining a hedgefund, do trading and portfolio construction education online through my investment channel. Trade my own money which is not too much right now, but I can grow that I guess. 

3) Don't do any studies and just joun a bank as investment counsellor for high net worth people. Basically do what I do now but without being a primary relationship manager for clients, only taking care of investment allocation. 

That's what coming to mind. 

Also, I like freedom and the fact that I can work from home or really from anywhere and hate bureaucracy and licking anyone's ass. Hated it when I was in corporate world. 

What do you all think? Also, if someone is in finance, would appreciate extra input from your experience. 

?????

[tsuki]

48 minutes ago, Vzdoh said:

1) Study quant trading strategies and Python programming and join a hedgefund. No clients. Only me and the market and the P/L. Huge income bump. Probably making half a mil per year or more. But I don't see how it aligns with my life purpose of contribution to others. Can't force myself to do it with only money motivation. 

Maybe you could research how finance provides value, but not to the people that profit from right trades, but to society in general. For example, how does trading impact the company whose stocks are being traded?

When you trade honestly, which is to say that you assess the value of a company based on high quality public information, does the general public extract value from your assessment in any way? How do automated algorithms provide such value? Which automated strategies could be considered ethical, or in other words, could be considered beneficial to the general public? Why is it important that traders "put their money where their mouth is"?

If you are interested in my take on these questions, we can continue this conversation here.

[gettoefl]

i say do 1) as it seems within your capability having the goal to maximize income ... money is what affords freedom and this is how you will best impact the world in the long run

just my two cents

[Vzdoh]

@gettoefl tou mean just go route 1,earn bug bucks and then invest or do something with that money for the greater good? 

How to motivate myself in the process, that's the question? 

I used to earn 5 figures before. It becomes stale quite fast. 

[Vzdoh]

@tsuki trading is all about alpha or market inefficiencies. Yes you can argue that by removing inefficiencies, I am helping companies to be valued at correct price point. But this is kinda not as tangible for me as having a human impact to be honest. 

[tsuki]

24 minutes ago, Vzdoh said:

I am helping companies to be valued at correct price point

Despite the fact that you are mostly dealing with numerical representations and abstract concepts, these companies have thousands of humans behind them. This "correct price point" is how we numerically represent trust and reputation nowadays, so I fail to see how trading is not human level impact?

Maybe what you seek is simply face-to-face interaction? Or perhaps you are getting blinded by layers of abstraction that is inherent in this field?

Edited November 9, 2021 by tsuki

[Vzdoh]

@tsuki i just find it hard to have an emotional impact on me for making the orice right. When I see more human response so to speak, I do feel it more that I contributed. Its hard to feel that with only numbers in fron of you. 

[tsuki]

1 minute ago, Vzdoh said:

@tsuki i just find it hard to have an emotional impact on me for making the orice right. When I see more human response so to speak, I do feel it more that I contributed. Its hard to feel that with only numbers in fron of you. 

That is very true. It seems to me that you feel lonely.  I wonder how that feeling ties with your other thread in the dating section?

Given your skills, maybe you could start a school for investing, where you could meet people? Or maybe start an organization that could bring the abstract prices down to earth, so that people could understand them by heart? Like, having a blog that explains why certain companies are more valuable than others? You could meet some people this way.

[Vzdoh]

27 minutes ago, tsuki said:

That is very true. It seems to me that you feel lonely.  I wonder how that feeling ties with your other thread in the dating section?

Given your skills, maybe you could start a school for investing, where you could meet people? Or maybe start an organization that could bring the abstract prices down to earth, so that people could understand them by heart? Like, having a blog that explains why certain companies are more valuable than others? You could meet some people this way.

Heh? How did you arrive at me feeling lonely? And how is this related to my other post? 

I am asking for specific career related issue here and for a specific relationship issue on the other thread. Asking people for their thoughts does not mean being lonely ????

I have friends who I can talk to about my relationship issues but they are not at the same awareness level as me, so it's gonna be pointless cause I already know what they will say. 

And career wise, I can't share my plans with people I know in the industry as they are my competitors. 

Don't make assumptions please. 

[Yarco]

Pretty much anything finance-related is devilry, low-consciousness, and a net-negative to the world if it's just siphoning off money without producing any real goods or services.

What about leaving the entire paradigm of hedge funds and banks behind for something radically different?

Could you start some sort of investment firm / charity hybrid? Where you take a nice salary for yourself, like $200k or something, and the rest of the gains each year go toward charitable causes?

Is there some way that you can earn money for yourself or clients, but then get tax advantages of charitable causes, all while helping the world and making it a better place? Could you invest in sustainable companies that help the world and still make a profit?

[Vzdoh]

10 hours ago, Yarco said:

Pretty much anything finance-related is devilry, low-consciousness, and a net-negative to the world if it's just siphoning off money without producing any real goods or services.

What about leaving the entire paradigm of hedge funds and banks behind for something radically different?

Could you start some sort of investment firm / charity hybrid? Where you take a nice salary for yourself, like $200k or something, and the rest of the gains each year go toward charitable causes?

Is there some way that you can earn money for yourself or clients, but then get tax advantages of charitable causes, all while helping the world and making it a better place? Could you invest in sustainable companies that help the world and still make a profit?

It's a good idea actually. I thematic portfolio option for contribution to the world investing in companies that main goal is to improve the world around us. ESG is popular right now but most ESG funds are not original. Same old tesla, google, FB etc

I will think about it. 

I don't want to leave finace and markets as its my passion. I love trading and following the markets. 

I just want to also combine it with something meaningful and something where I can contribute. No tax in Singapore so no way to get tax rebates. 

 

[Nahm]

On 11/9/2021 at 5:38 AM, Vzdoh said:

Also, if someone is in finance, would appreciate extra input from your experience

I hold seven financial licenses. What you want is called residual income. Why you want it is for the ideal balance of time & money. Why you miss it is an unwillingness to notice conflicting views, even when someone points this out for you. You say you already know what people will say, and tell others not to assume, as one example. Everything you’re talking about on this thread is to uphold self image, it’s not what you really want. If you make a dreamboard you will discover and have, everything you really actually want. That is already the case, but remains unseen. Dreamboard makes it effortless, and very easy to see. Folks keep telling you it’s all related because it’s all related. Understanding the emotions you’re experiencing, specifically jealousy, you’d have swiftly moved from helping rich people get richer, to being rich. 

[Vzdoh]

9 hours ago, Nahm said:

I hold seven financial licenses. What you want is called residual income. Why you want it is for the ideal balance of time & money. Why you miss it is an unwillingness to notice conflicting views, even when someone points this out for you. You say you already know what people will say, and tell others not to assume, as one example. Everything you’re talking about on this thread is to uphold self image, it’s not what you really want. If you make a dreamboard you will discover and have, everything you really actually want. That is already the case, but remains unseen. Dreamboard makes it effortless, and very easy to see. Folks keep telling you it’s all related because it’s all related. Understanding the emotions you’re experiencing, specifically jealousy, you’d have swiftly moved from helping rich people get richer, to being rich. 

You talk in riddles.. Can u speak/express yourself clearer? 

My objective is not to get rich. I am already quite well off. 

The rest I really didn't understand 

[Nahm]

@Vzdoh

I didn’t say anything about getting rich. What part seems riddlerish?

[Vzdoh]

2 hours ago, Nahm said:

@Vzdoh

I didn’t say anything about getting rich. What part seems riddlerish?

The entire thing. Actually most of your responses are very hard to understand. Not sure if it's because I  not a native speaker or its your way of expressing yourself in such a way that either you want to sound misterious or you yourself do not quite understand what you are trying to express 

[Yarco]

3 hours ago, Nahm said:

@Vzdoh

I didn’t say anything about getting rich. What part seems riddlerish?

Literally everything I've ever seen you write on this forum bro. I've thought about calling it out so many times, you write like it's a horoscope or something lol. If you wanna talk in riddles about enlightenment it's one thing, but it doesn't make sense for practical topics like entrepreneurship.

[Nahm]

@Vzdoh @Yarco

I appreciate the feedback, thanks. Also, if you have any questions feel free. ?