Tuesday, June 29, 2010

A Trading Mistake Only a Rookie Should Make...

On the 23rd (last Wednesday), I moved 20% of a Client's Position in a 5.8% Dividend Bond to a stable Stock paying 12%+ ; good deal.  The Client was aware, from my Weeklies sent to her, of the amount to expect this week from divs.  And that she'd be getting the standard amount on the 28th and the new spinoff amount would kick in next Q.  No problem.  Done.  Everyone Happy as yet aonther Douglas45 Strategy was at Play.

CHECK EX-DATES ON ALL STOCK
YOU ARE PLAYING
as I have done every time, except one; can you guess when?

     My client called me to tell me the amount deposited into her checking account seemed a bit light.  I punched up her Ed Jones Account to learn why.  Drumroll, please:  THE EX-DATE WAS TUESDAY 22!  Oh no, don't laugh your ass off yet, it get's better.  Every Sunday E-Mail Alerts come in re: Dividends/Ex-Dates upcoming for the following week on Every Stock I, My Clique and My Clients Own.  After I Read the one which included this stock, I duely moved it in "Saved To File"
     Now, you'll find out how I keep my clients happy.  My Stupidity with nothing to do with Market Conditions; I wrote a check.  Oh well, she'll buy dinner, next.  

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