Investment Business-Know What You're Getting Into.

There is no better description of being in the investment business than what I saw published over at the Reformed Broker blog last week.  Those of us who have been around long enough will surely understand:

This is a business, for better or for worse, of attrition. It wears you down until you have nothing left. Only then, when you are faced with a decision and a path, will you learn if this business is for you. I’ve been faced with this reality numerous times over the past 17 years and have always chose to bear down and make it work. Only through ox-headed perseverance will you succeed at being a trader, money manager, operator of coin, in this god forsaken avenue of employment.

Upon reflection, the first part of this quote probably applies to most any profession in which an individual spends most of their adult lives.  There are situations though unique to the investment business that will lead to many dark nights for the soul.  It's hard to lose money and even harder to lose money for clients.  If you do our jobs long enough then you will know not every investment works according to plan and that bear market phases follow the bull.  Takes a while to find out if your up to the task.  In every career you have to take the good with the bad when you go to get your ticket punched.  The often lonely business of managing money, in both good times and bad, is the burden those of us in the business carry.

Link:  The Reformed Broker:  "The Stupidest Job on Earth.