by Jesse Anderson, CFA
I first started working at Snider Advisors back in May 2005. Since then, I’ve either placed or reviewed over 100,000 Snider Method trades for clients’ accounts. But, today I did something brand new; I placed my first trades in a personal account.
A little over a year after starting to work at Snider Advisors I took over the role of Trading Manager. This meant ensuring all the trades placed in our Asset Management accounts were done in a timely, accurate fashion. My role soon moved beyond just trading to Chief Investment Officer. The added duties included monitoring the Method to make sure our objectives were met, as well as making improvements and updates to the Snider Method when required. Needless to say, I have my finger on the pulse of the Snider Method. Very few people have as much access to accounts, trades, and data surrounding our strategy. So, what took me so long to get started?
First, I had to see it work. This part didn’t take long with the ability to see hundreds of accounts as well as thousands of trades, open positions, and closed positions. It took longer to become a sharp Family CFO. I followed our own recommendations and put together a solid financial plan. It started with saving for retirement through our company plan and taking advantage of our company match. Next, I eliminated all my credit card and student loan debt. Only after fully funding my emergency fund could I start saving to fund a Snider Method account. I maximized my tax deferred savings by creating a ROTH IRA and contributing the maximum annual limits to our company plan. Nearly seven years after starting the process, I found myself ready to place my first trades.
I recommend to all our clients or potential clients a similar process. Along the way there were milestones and goals, only after accomplishing one could I move to the next. Notice it didn’t happen overnight. My journey took nearly seven years. Normally, I talk with clients nearing retirement who have components of a solid plan in place, but have not put all the pieces together. Once we complete the puzzle, we start investing with our solid investment strategy.
Going forward, I will continue to follow our Trade Day checklist. I will keep my emotions in check and trade by the rules created around credible investment theories. Someday I will likely experience a position in “winter” or one that just won’t close. I will be forced to recall why the rules are in place and how they were designed when we were rational and sane, not emotional and illogical. Each year I will reevaluate my financial plan and adjust when appropriate. But, today I’m off to Bora Bora. I can’t wait to get back and see how my first month of trading went.