Monday, August 01, 2005

First Day on the Job

Even though I started work early, I could not get a good night's sleep. I think I was just restless/anxious about starting a new job, and I kept waking up throughout the night. Then my alarm went off at 4am. I was pretty excited so I wasn't tired, but I'm feeling tired right about now (and it's not even dinner time!).

I'll share one embarrassing moment: I'm still not used to living in my parents home. Now at 4 in the morning it's pitch black dark, and I didn't want to turn any un-necessary lights on that might wake up my parents. So I tried to navigate in the dark to the kitchen and I should mention here that the house does not have a straight hallway, it's crooked. Anyways I ended up walking right into the wall. I don't know why I'm sharing this, but I thought it was funny.
Next time, I'm using a flashlight.

My first day went really well and the day went by fast. I was bombarded with new information and I tried to take lots of notes. I had to sign a bunch of papers dealing with insider trading and a long confidentiality agreement. From now on, I'll speak in general terms and I can't mention any stocks. I also have to get written consent from the compliance officer if I actually want to buy anything for my own account.

Right now my main job is to take over duties of the person in charge of Operations. It seems like she's moving more towards an Office Manager position. I'm learning all about the trading and settlement process and I think I'm picking it up fairly fast. My plan is to work hard and hopefully get the two traders to start teaching me things (a few people have pointed out that this is a possibility).

So the first day went great. The people are really nice (about sixteen other workers) and I found out about a few other perks. They can get the Wall Street Journal delivered to my home and this will save me over $100/year (since I was planning to get it anyways). Also, on Fridays lunch is paid for. The one thing that I have to get used to is that I really don't have a lunch hour. It's basically whenever you get hungry (usually around 11am for everyone) you grab something, eat it at your desk, and then continue working. I was used to having an hour off, but I'm fine with this new schedule. I'm also the youngest guy there by at least ten years.

Portfolio News
I had a great day at work, but I was barely able to check on my positions. I was happy to see that I had one of my best days ever today, with my entire portfolio increasing over 3%.
LB rebounded 4.15% (but I was hoping for better volume).
FRX finished up 2.43%
The big winner was NTE, as it finished up 10.76%
They came out with earnings, and although profits declined they had great growth in sales. This pushed the stock to $26.25

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