Tuesday, April 28, 2009

The Financial Industry Sucks (for now...)

So insanely bored am I of the world of finance that I have not been able to bring myself to write an article here in weeks. I don't know about you but I am so fed up of hearing the opinions of 'experts' on CNBC, in newspapers and on their personal blogs I just didn't want to add to the 'noise'.

The fact is that most of these people have been proved to know f*** all to a jam tart about what is going on in the markets or what is going to happen in the markets. Those who appear on CNBC from companies in London and the US should really think twice before coming on, or at least coming on twice. I have heard the most preposterous cobblers ever from those 'in the know' which has proved to be wrong days later... and then they merrily trot out the following week with no mention of the bile they spewed over viewers just seven days before.

Maybe it is because I have given up smoking that my famous sense of humour has lapsed or, more likely, I am experiencing my own personal 'point of capitulation' where I just cannot be bothered with the markets any longer, whatever it is it will take something monumental to peak my interest in the short term.

The fact is I should be excited; markets low, buying opportunities everywhere etc.. but I just have this impending doom feeling. The regulators are girding their loins to make our business more of a chore than it already is and the thought of dealing with the faceless (and ultimately, as we have seen, useless) bureaucrats more than ever, just makes my stomach churn.

For now I am concentrating on investing in small businesses, trying to create something that does not require me to pay thousands of pounds per annum to people who make your life more difficult in the name of regulation but ultimately, when they are called upon to protect your clients and your business from unscrupulous people, can't perform.

Maybe when I reach my one month of not smoking and the craving has died down I will re-evaluate my current negative view of the industry, but for now.... well.... I just can't be arsed.

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