I am reminded of when I first got in the investment business a long time ago.
At first I was only allowed to talk to people about CD's. I cold called this one guy and he said all he had left was $40,000. He had just lost $40,000 with a commodity trader. He said he couldn't afford to lose another dime.
For months I called him on CD's, then when I got licensed, T-Bill and bonds. Never could close the deal. Then one day he said, I have invested the money. I ask where?
His answer, with the commodity guy that had lost the $40,000. He had convinced him he could get his money back. I hadn't really listened well. He didn't want to not lose his remaining 40, he wanted to get the 40 back he lost and he was waiting for someone to convince him they could.
He said call him in a few months. I said no. He said why. I said, because you won't have any money.
|