Tuesday, August 16, 2022

What My Mom Taught Me About Investing – That Wall Street Couldn't

By Nomi Prins

There are moments in life that define your path... In today's essay, I want to share one of those moments with you. I was a managing director at Goldman Sachs (GS) at the time. But it didn't happen in my office at the World Trade Center... Instead, it was a lesson I learned from my mom. It changed my life forever. And I believe it could have implications for you and your money. Let me show you how... Yesterday, I wrote about keeping patient in times of market turbulence. Today, I want to write about other tactics to help you become a better long-term investor... It has to do with my mom and a broker at Smith Barney two decades ago. Now, my mom is a smart, independent person. So, when she decided to invest her retirement funds with a brokerage firm called Smith Barney, she didn't ask for my opinion. Smith Barney was a prestigious institution. Its history went all the way back to 1873. You may even recall its motto from a TV commercial in the 1980s. In it, actor John Houseman said:

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