Feel the Schadenfreude as Markets Dive and Scandals Erupt, Unless FOMO Put You in Over Your Head
To My Fellow WSR Community Members:
Larry’s a true gentleman, so I guess I shouldn’t be surprised about his concern over the creative liberties I took substituting for his Letters from Larry column this time last year.
I guess that’s why I’m surprised he asked me to stand in for him again while he enjoys himself at his place in Nantucket, hanging out on a beach in the cool Atlantic breeze, watching the Downeaster “Alexa” work with the rod and the reel.
He could have asked Janeesa or Julius, but I think he asked me out of pity. Pity for my wasted life, but if so, the joke’s on him: WSR reader poll after reader poll shows that you all truly enjoy hearing from me, unlike my ex-wife and her family members.
But then again, it’s because of my ex-wife that I’m living the dream of being year-round in Phoenix, Arizona, where dreams become nightmares, and nightmares go to die.
Don’t believe me? Take this on for size: The mercury in Phoenix hit 98° today – That’s a great day in Phoenix. In this town, anything below three digits doesn’t deserve attention.
Let’s see, what else is new with me? Well, nobody’s swiped right on me for longer than the pandemic has lasted (one thing I can’t blame on COVID, I suppose) and humans do still manage to stay alive in Phoenix, even in the summer – Road signs may melt, but their phones work.
At least, mine still does. That’s how I can tell nobody has swiped right on me.
FOMO and Its Discontents
If no one finds my headshot impressive across numerous dating apps, that only leads to one conclusion – they’re on their trading apps fretting about the simultaneous nosedives in stocks, bonds and crypto – caressing that precious NFT of a jacked lion with headphones worth $5,000 a month ago and now “worth” $500.
When the party ends, FOMO wrecks your house.
For some good news – I have not the tiniest fraction of LUNA or TerraUSD to my name, never have and never will. If you do I have sympathy for you, much like Larry has compassion on the desert shipwreck of my life. And we have an article for you.
What’s more, we’ve got a story for you about those sweet market meltdowns. It also has something to do with advisor recruiting, but the choice steak is of course the market meltdown.
We also have an uplifting, warm and fuzzy piece on education, for which I have nothing to say.
This Week’s Issue
Here’s an eye out for the following articles, to appear Thursday and Friday this week:
- The flight of the algorithms – in the Digital Domain, our Expert Columnist for Compliance & Regulatory Affairs and Managing Director of Essential Edge, Sander Ressler, leads us on a deep dive into the recent debacle of TerraUSD, Luna and their founder, Do Kwon, that roiled the entire crypto world and sent the values of cryptoassets plummeting.
- In our Upmarket section, we explore the current state of advisor recruiting in the midst of chaotic markets with experts Amit Dogra, President and COO of tru Independence, Jon Hoy, Chief Operating Officer at Perigon Wealth Management and Kevin Beard, Chief Growth Officer and Founding Partner of Atria Wealth Solutions.
In the immediate, check out the following:
- Also in Upmarket, Mark Contey, Vice President of Business Development at LaSalle St., describes the firm’s newly announced technology educational platform and we hear from Emily Wilcox, COO of Practifi, and Sindhu Joseph, Co-Founder and CEO of CogniCor, on the advantages of automated learning systems, best practices for success and common pitfalls.
And in case you missed it, we published two profile features of AAPI Top Industry Leaders in our On the Rise section in honor of AAPI Heritage Month:
- We interviewed our AAPI Fintech Leader of the Year Sid Yenamandra, Founder and CEO of Entreda, who described his passion to bring unified cybersecurity solutions to advisors and counseled on top priorities to protect your firm from cyber threats.
- Our AAPI RIA Leader of the Year David Hou, Managing Partner at Evoke Advisors, shared what makes high net worth and institutional clientele different and the extra mile an advisor must go to achieve success in this space, and advised on ways to improve AAPI representation in wealth management.
Pride Month Has Arrived
We want to hear your ideas, thoughts and comments, and during Pride Month, we have a special favor to ask: If you have stories to share about efforts undertaken by your firm or practice in support of LGBTQIA+ clients or employees, let us know.
But don’t send it to me, send it to this guy: firstname.lastname@example.org. Julius is our Managing Editor, and he’s much more organized than me.
And let the whole world know what we’re doing here! We’re on LinkedIn. Share it like friendship beads, or whatever.
James Miller, Contributing Editor & Research Analyst