as in he was the executive Vice President and they gave him his own Gulfstream to fly him and his family wherever...
He taught me one thing about investing...
if you are investing for the long haul, invest in a basket of stocks... do not let a "financial advisor" churn your account ( day trading to make more money for THEM not you).
If you are doing your own investing, buy companies you know, do your own research on them, and when you buy, always set a stop loss amount. If the stock moves up, move up your stop loss. If you get stopped out ( i.e. the stock went down and the broker sold you shares automatically )... you have locked in the gains you have made ( or, if it never went up, you have limited your losses ). IF you are stopped out and you still LIKE the company, you can always buy back in as the stock starts to rise again.
Lets say the stock is at $100 / share now... and you buy 10 shares... set the stop loss at something like $90 or $85. If the stock goes to $120, move the stop loss to $110... and so on. Lock in the gains. Selling is always automatic.
I have done modestly well following this sage advice over the years. I'm too financially conservative to invest enough to make me wealthy but it provides a little bit of summer travel money or extra Christmas money ( or even extra Democratic Candidate contribution money! ).
He was a country club republican so I never mentioned that last bit to him... Passed away a few years ago now.
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