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#47: David Hay On Balancing Risk Management With Timely Opportunism
Superinvestors and the Art of Worldly Wisdom
The Positive Catalyst for My Career
I was a cold call cowboy. I remember buying CDs for clients, you only 21% in 1981. By the late 80s, it really dawned on me that the Dean Witter wasn't right firm. The idea that you have to call people and that you're paid on commissions became a big battle with Dean Witter management. They didn't want to give me fee-based discretion. So anyway, that's really why left Dean Witter was to go to Smith Barney. We had, my team and he established the first portfolio manager account.
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