Over the course of my career in finance, I have witnessed two major upheavals in the markets that have drastically and negatively affected investors’ portfolios… and in many cases, the lifestyle they wished to live.
During the tech bust, most of those affected were young entrepreneurs who were able to start over again and find success.
But the second bust — in 2008 — saw too many people near or at retirement getting wiped out. In many cases, those affected by the tech bubble had ignored advice and gotten greedy.
But in 2008, most of the investors were following the traditional advice of the Wall Street marketing machine and still got burned.
For over 20 years in the financial industry, I have worked for Morgan Stanley and Oppenheimer, earned some impressive “VP” titles, and learned from some of the “best” on how to look after your own interests and those of the firm. I also learned that the traditional advice about investing (buy and hold for the long term) was a great way for the firms to make money, but not always in the best interest for clients.
With that epiphany, I decided in 2006 that I would never again be beholden to a firm. I knew there was a better, more independent way to run a successful business while looking out for the best interests of my clients. So I started Riverbend Investment Management and have never looked back.
Since then, I have worked tirelessly to create a tactical system of investing that takes into account all of the resources available to me: computer modeling, historical trends, and seasonal patterns, as well as the day-to-day news that affects the markets.
No longer tied to the Wall Street marketing machine, my firm can implement tactical investment models that first and foremost is about making money for our clients — short term, long term, through bubbles and busts.