(Bloomberg) — As she nears 100, Irene Bergman has some advice for enjoying a long career on Wall Street: Don't do anything stupid.
Consider investment returns, the financial adviser at Stralem & Co. said in an interview at her New York apartment, where, surrounded by paintings from Dutch masters, she telephones her clients. While many investors nowadays obsess over quick profits, it's best to wait at least three years, or better yet, many more, before evaluating holdings. But don't be afraid of revising your thesis, she said. If thorough research favors a portfolio shift, have courage and make changes.
"The longer you're in the business, the more pessimistic you get," Bergman said in her soft voice, noting she thinks shares are too expensive right now. Still, "I'm able to get bullish, because when I look at a stock, I can imagine where it was 40 years ago."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
