I had never thought of hiring an investment management company in the past. You see, I have always taken a very hands-on approach to business. I learned it from my father - an entrepreneur himself. He never believed in investment capital management through a broker. By doing the paperwork himself, he cumulated a financial fortune. Yes, he worked almost 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 emulate. Even so, managing investment myself was not an easy habit to break.
Nonetheless, eventually I simply couldn't handle it anymore. I am not sure if my investment portfolio had grown too diverse, too large, or if I simply didn't have my dad's skill for figures. For whatever 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 company the very next week.
A lot of things have been complicated about the new investment management corporation. The most hard, of course, was to give up some control on my investments. I tried to keep as tight a leash as possible as soon as I hired the investments management firm. I wanted to understand every move, approve each decision, and in general. keep my hands in the pie at all times. After a while, my broker talked to me honestly. He said that there was no need to have a mutual funds manager if I was keeping trying to do all the work anyway. He then asked me very clearly if I wanted him to do my mutual funds management or not. I backed down, understanding 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 money that they charge me, I still make a huge amount more off of my investments than I ever have before. My mutual funds portfolio has grown at twice its regular rate this year, 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 had even hoped that investment management would turn out to be a bad experiment. After all, it is not easy to admit that someone else can be more efficient than you are.
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