Mike Konczal, a former financial engineer, is a fellow with the Roosevelt Institute, working on financial reform, the 21st century economy, structural unemployment, inequality, risk sharing, consumer access to financial services and more generally what it means to have a social contract in a financialized, post-industrial economy. His work has appeared at The Atlantic Monthly’s Business Channel, NPR’s Planet Money, Baseline Scenario, Seeking Alpha, Huffington Post and The Nation. Originally from Chicago, he enjoys finance, economics, sociology, theory, tacos and center-left politics on the side.
I have recently retired from the aerospace industry and now am focusing on establishing and building an income stream following a dividend income approach. I am also developing my knowledge of options to help enhance my income through the use of covered calls and cash secured puts.
I participated in the creation of financial derivatives, beginning with the introduction of Eurodollar and Standard and Poors futures at the CME, and including the secondary market trading of OTC swaps. I have established and managed trading desks in these instruments and managed MHT Futures, Inc., one of the first bank subsidiaries to clear futures. Today I teach and write about the need for market-based innovation in these seriously flawed markets.
I am an independent investor nearing retirement age. I have some expertise in biotech and generally avoid it. I prefer index ETFs, using options to reduce risk. I also trade stock options, favoring combinations that can work regardless of the direction of the underlying stock.
Yesterday as I walked across a wide manhole cover, I noticed these large letters, stamped in iron: "SANITARY SEWER." This was reassuring because I often walk this way without looking down, and I would hate to fall into the unsanitary kind. There should be a moral here, probably this: If you don't think you'll ever fall into a sewer, and if you think it will be sanitary because management said so, then think again. Manage your risk.
I've worked in aerospace and industrial process businesses for over 30 years with roles in Sales and Operational Planning, Business Intelligence, Competitive Intelligence, Business Development and Information Systems. This perspective I think has provided me some insight into operations and cash flow management of successful manufacturing businesses. A while back I helped start up an investment group of individual investors formed on the basis of friendship and a mutual desire to study the inner workings of successful corporations ... and to make money. I plan on writing periodically on small group investing and hopefully contribute some knowledge and analysis on some of the multi-national industrials for long term investing.
Retired investor. BBA - Finance/Economic 1967 University of Memphis; Merrill Lynch mimiMBA 1970, NYU. Registered Rep 4 years. Construction industry - marketing and financing commercial/industrial projects 25 years. President & Owner of promotional marketing and PR company for 20+ years.
By using this site, I have discovered that I have been more of a speculator for the last 30 years than an investor. Even though I have done well (thanks to the 90's where a mistake was hard to make!), my approach, in hindsight, could be called the "shotgun" approach. Buy a lot and hope to hit something! Frankly, I have made every error I read about but finally I have come to appreciate what a solid, reasonable, careful, and defensive approach value investing really is - thanks to some really solid articles on this site, and some good books on value investing.
Ph.D. Clinical Psychology; M.A.; M.Ed; Ed.S. etc.