By Dr. Steve Sjuggerud
People often ask me why I left the world of institutional investing to work as an independent analyst.
Did I do it for the money?
Yes... and no.
One thing's for sure. I could certainly make more money if I went back to the world of professional money management.
But to tell you the truth, even though I was pretty good at it, and made a very good living, I didn't enjoy that world very much.
Right out of college, I got a job as a stockbroker. I learned pretty quickly that a broker's main job isn't to help his clients make money... but to simply get more clients.
My next job was working for a global mutual fund. I was promoted to vice president, in charge of running a $50 million international fund. It turns out this job involved a lot of sales, too. I had to spend several hours every day trying to sell the fund to potential investors.
Then, I worked for two different billion-dollar hedge funds and earned my PhD in finance. I learned a lot in these positions. But I realized the hedge fund world still meant a lot of schmoozing, selling, and meetings... the part of the investment business I want to avoid.
So in 2001, I left all that behind and started my own private advisory, called True Wealth
, for people who want to take charge of their own finances.
In that short time, we've built True Wealth into one of the top five investment advisory services in America. We have readers in more than 125 countries.
Then in 2005, we launched DailyWealth, our daily e-mail investment letter. We wanted to introduce more people to the kind of work we do. So unlike True Wealth, DailyWealth is completely free of charge.
I now spend all of my time doing research. That's what I enjoy... and what I'm good at. I don't have to schmooze... or entertain clients... or sit in board meetings. And I don't have to worry about being a salesman.
I have no one to look out for but the people who read my advice. I can travel around the world to look at opportunities firsthand. I can recommend all kinds of investments – stocks, bonds, funds, and other alternatives. And I'm never afraid to tell you when to sell.
If I help you make good money, you'll most likely keep reading my research. No hidden interests... or secret agendas. That's the way it should be... and that's what DailyWealth is all about.
Founding Editor, DailyWealth