When I tell people that I "Trade options on the FTSE Index of 100 shares", they often say something equivalent to "WHAT?"
When I explain what "trading options on the FTSE Index of 100 shares" involves (basically vigilance and an iron determination to take NO NOTICE AT ALL of experts), they usually say something equivalent to "Half to one- and -a -half percent a month, compounding! Why doesn't everybody do it?"
At this point I ask them two questions.
Q.1 "Before we had this conversation, had you ever heard of 'option trading' "?
A.1 "No" or "Well, vaguely." or similar.
Q.2 "So now I've outlined the rudiments, would you consider opening a trading account with a stockbroker who deals in options, and having a go yourself?"
At this point, my interlocutor usually recoils in horror and says something like "I wouldn't know where to start." or "I'd be terrified!"
So now, dear blogreader, you know why so very few people (try to) improve their bank balances by trading options in the FT Index of 100 leading shares on the London Stock Exchange or by buying shares or learning the basics of bond trading, or by learning anything of any significance at all about MONEY , what it is, how it works . . etc . . . etc . . don't get me started . . . . !
A little story told to me by a friendly neighbourhood stockbroker.
"Doctor FTSE - I've spent my working life in the finance industry. And here's one of my general conclusions. Nearly everyone is obsessed with money. But very, very few people are interested in it." See the difference, blogreader?
And another story from a friend who is a member of an Investment Club -
"People join golf clubs because they like playing golf. They join the local amateur operatic society because they like singing "The Mikado". They join Investment Clubs so that other people can make money for them while they drink beer."
Now you know the main reasons why folk leave their pension funds in the wrong hands. i.e in the hands of someone OTHER THAN THEMSELVES. They think they can't do it because they don't understand money, or money is too scary, or they would rather sing "Three Little Maids" or play golf, or waste time writing blogs or drinking beer.
If you can read, dear blogreader, there are three professions whose help you do not need.
1.Financial Adviser 2.Fund Manager 3.Estate Agent. These guys and gals exist because you can't be bothered to do for yourselves what they try to do for you. You think they can read the future better than you can read it for yourself. They can't. And they don't 'arf charge you whack for trying to do it! Think Lehman Bros. Think Equitable Life. Think Northern Rock. Think the Dot.com bubble . . .
The world works as follows for all too many people. "Don't ask me to learn anything about money. I haven't got enough of it but I'm too busy writing my Christmas card list, planning my next holiday, organising my daughter's wedding, watching ManUnited, watching "The X Factor", eMailing, Facebooking, YouTubeing, getting drunk . . . "
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I don't leave comments on blogs that use Word Verification. Ditto blogs which I know have Comment Moderation applied. Life's too short and I'm too busy makin' money and what the Hell are these people scared of anyway? If you don't like some creep's comment . . TRY DELETING IT! You have that privilege.
And I never read unpunctuated so-called poetry. I don't understand why self-styled poets think it's clever to make their work difficult to read/understand.