Summer investing requires serious restraint of one’s inner hormonal hurricane.
This week I’ve had the pleasure of dealing with several enthusiastic summer workers at Swedish brokerages. They’re full of confidence, probably feeling like kings of the financial world after landing a job at Avanza, Montrose, Nordea and Nordnet.
The problem? Most of them lack the experience (and sometimes the basic understanding) to actually solve simple issues.
One young man confidently promised to make three specific shares available for trading “within a couple of days.” Seven working days later — I called again. New promise: “within 24 hours.”
72 hours after that I sent a follow-up email asking for an update, and two hours later I received a polite reply saying it might “take a little longer than normal.”
In another case, my husband called the brokerage desk at 5:20 pm and asked to place an order. The response? “I can accept it, but we’ll execute it tomorrow — I’m heading home now.”
I thought he was going to have a stroke.
Dear summer students: We appreciate your energy. But please, for the love of dividends, ask your supervisor before you promise things you can’t deliver.
Let this summer end quickly so the regular, battle-hardened staff can return.