Doom, Doom & More Doom

Well, it has certainly been an interesting year, with an even more interesting one coming. I am not one to sit around piously lecturing others, but I am sure I'm not alone in hoping that, once and for all, this downturn changes the world's views on personal and institutional responsibility forever.

First of all though, without wishing to point out the obvious, I have decided to start writing a blog.

It's hardly an original idea these days, but after the events of the last six months in particular, I am tired of listening to the press twittering on with its simplistic explanations to a public more than capable of following the detail. And of watching often laughable 'experts' talking about areas in which they largely know nothing about. Perhaps I find it more tiresome than most because I am in a better position than many to understand what has been going on, what is going to happen, and what to do to make money in these tough times. So that's what this blog is about.. and I'll of course update you on what's going on in the world of investment banking throughout - the kind of detail we must never reveal, naturally.

I have worked for investment banks for over a decade, and have escaped the current job "bloodbath" (to quote the amusingly overused phrase used describing any cut) while watching mostly likeable but average colleagues fall by the wayside. That's not to say I'm something exceptional, but I do work hard with the output and hours that make me useful even to my boss. The indications seem ok for me going forwards, helped because I work for one of the world's top investment banks best weathering the economic storm (i.e. it's not effectively nationalised like all the British banks). I suppose many people dream of a job like mine, but for nothing more than the pay.

But I'm far from satisfied. It's not what I want to do in life, and never was. I've ended up here more as a distraction until I can satisfy a long-standing urge I've had since I was 10yrs old to set up my own business and create something more meaningful (at least by my own definition). I'd like to do that rather than retiring as a fat, purple faced banker with a puréed liver, as most of those around me will, having been nothing more than a small cog in a very big machine.

The last 18mths have increased my desire to plan an exit by confirming what I always suspected - that the value our industry offers in providing important services is but a distraction in the pursuit of profits which are nothing more than the transfer of wealth from one party to another.

So that's what this blog is about. I'll give my opinions on current events and news, discuss what I'm investing in with my own money and why, and the latter might be most useful to you as I am absolutely amazed how few people have even an ounce of common sense when it comes to looking after their money. How much you earn helps, but it's amazing how naive most people are with their cash - and that includes my colleagues, hence the number of overpaid bankers in deep trouble now they have lost their jobs.

If you have any comments along the way then please do drop them after a post, and I'll try not to leave too lengthy gaps between updates.