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I just got canned


valuecfa
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I can't believe it. I just got "let go."  :'(  This sucks, but honestly it is kind of liberating as i have wanted to move for some time. This is the first time i have ever lost a job. One of the things i really hate about this industry is how fickle job security can be, even if you have been with the firm for a number of years, and done well by the firm.

 

Oh well, c'est la vie. Next chapter. I have been looking for a change of scenery anyway. I'm gonna go to Hong Kong to get some new suits made for upcoming interviews and to cheer me up, while taking a mini-vacation thanks to some frequent flier miles, and then off to job hunting.

 

I've been looking at a map all day today, trying to decide where i would like to live that has decent sell-side analyst opportunities. I'm willing to wait a while to move to a place that has a good quality of life and reasonable cost of living (vs an immediate job opportunity in a location i won't like and  better salary/position). I was curious if anyone on this board happens to live near the St. Petersburg, Fl area or has ever visited there. I would love to live near the beach, and it sounds like an interesting place to live. Raymond James has their HQ there and i have a friend there that thinks i could get a position there fairly easily, but perhaps covering a different industry. I'm thinking it might be ideal location for me, when an opportunity pops up. Has anyone ever visited the area that has any opinions on it?

 

Vancouver has also always struck me as a fine place to live, and would be in my top 2 or 3 choices. I fell in love with that area a few years back, but have only spent 2 days in the city. I know there are a few Canadians on this board. Do you like living in the Vancouver area?

 

Those are my top 2 locations as of right now.

 

 

 

 

 

 

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valuecfa,

 

Sounds like you were ready to move on.. so I think this may be a blessing in disguise. Good luck in the job search.

 

But you should probably be careful when it comes to Vancouver real estate prices which seem a little nutty.

 

I agree. You can always rent... it makes you a lot more mobile if you decide you don't like living in some city or neighbourhood.

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St. Petersburg is lacking in liveliness but has plenty of charm. On the flip side, just across the bridge is Tampa which has much of what anyone could want from sports, to entertainment, to the Florida lifestyle. Tampa is more like the Mid-west in culture (i.e. Chicago) versus like Miami (i.e. Jersey).

 

 

Cheers

JEast

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Vancouver is not the best place for the sell side in that there is only one firm with a head office here Cannacord and do not buy a house unless ya want to buy mine. There are many excellent buy side firms in Vancouver however. In fact I suspect most of the buy side firms in Vancouver are regular contributors or at least readers here.

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Valuecfa,

 

Sorry to hear about your situation. But, as I've been reminded many times by Vancouverites: After the gloom and rain, the sun always shines again. Your predicament is not permanent.

 

Vancouver is without doubt a wonderful city to live in (it also happens to have the best and cheapest sushi in the world :)) - I chose to move here almost 10 years ago and have never regretted it. But it is not a financial centre and thus not a great place to build a sell-side career imo. On the other hand, it is not a bad place for a buy-side investor as it keeps you somewhat detached from the short-term thinking of Wall St and Bay St.

 

Real estate prices should not be a consideration in your decision-making. Rents are still relatively low and a good option.

 

Good luck.

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Sorry to hear that Value!  Remember, crisis equals opportunity, so a change may be a welcome result.  Don't know about St. Petersberg, but Vancouver is a fantastic city...as long as you are ok with rain. 

 

We're a big enough and cosmopolitan enough city for you to enjoy your life thoroughly, yet small enough where you will never be overwhelmed.  CFA's are always in demand here, but the opportunities won't be as plentiful as say Toronto, Chicago, New York or London...or even Calgary for that matter.  If you want to be involved with a start-up or launch a fund, then Vancouver is a fantastic place for that.

 

We have terrific restaurants, night life, outdoor activities, shopping, etc.  Renting is a heck of alot cheaper than owning.  I've thought we've been in a housing bubble for 7-8 years, but it keeps going.

 

I think the best way to figure out if you'll really like it or not, is to come out here and test it for a solid week...try everything, look at job opportunities, housing, etc.  You've got the time now!  ;D  Cheers!

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I've been in a similar situation to yours.  I was working and living in an area (geographical) that I loathed.  When I finally got canned, it was a huge relief and gave me the impetus to go back to medical school and leave a place I couldn't stand.  That was many years ago.  Now I'm living in a place I like and doing something meaningful.  I believe every bad thing happens for a good reason.  Anyways, you probably know all this.

 

St. Petersburg is very nice, IMO.  Back in high school, my dad was thinking of moving the family from Hawaii to St. Petersburg.  Although, if you're young and into the night life, it's not good for that.  I've also been to Vancouver many times and have lots of friends there.  Nice city and beautiful women!  I liked it better than San Francisco, although the weather in California is nicer than Vancouver.  If you need some connections out there, I can help out.  

 

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I don't know where you live now, but I would be careful about Vancouver if you live in the southern latitudes today.

 

I'm near Seattle which isn't quite as far north but the light situation here is depressing in the winter.  It's not just the rain -- it's the fact that the sun rises at 8am and sets somewhere near 4pm.  The part of the daylight that is missing is the very middle of the day where the sun ought to be somewhere high over the horizon making things feel really light.  Instead, it just gets to where you'd normally expect it by lets say 10:30 am in California and then starts heading down again.  So it's not just that the daylight hours are short -- it's that the very best and brightest part of the day is missing!  It wouldn't be so bad if there were snow on the ground (reflecting light) -- but there isn't!

 

However this doesn't bother most people who grew up in the northern latitudes.  I did not, so I suffer.

 

Sorry to hear about your surprising loss but it sounds like you'll wind up better off.

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However this doesn't bother most people who grew up in the northern latitudes.  I did not, so I suffer.

 

Though I grew up in Canada (Southern On) that gets me too in the winter. It is really a killer during the long dark winter months but when it snows its great!

 

I havent spent much time in Vancouver however I enjoyed my stay in Victoria BC.

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It is really a killer during the long dark winter months but when it snows its great!

 

I havent spent much time in Vancouver however I enjoyed my stay in Victoria BC.

 

That's my main gripe with Seattle -- if it's going to be this far north it had better snow!  But it doesn't.  What the heck do you do in the rain and mud?  Snowing on the other hand:  you have skiing, you can send the kids outside to play in the snow, and it gets so bright outside that you need sunglasses -- just like summer except cold. 

 

I think Vancouver is the same -- dark and rainy.  Both places have ski areas near by, however I'd like the snow to be in my back yard.

 

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Sorry to hear about your job; but in Polly Ana way

Better things are ahead . If you are concerned about weather LA or OC might be better choices; it's always bright & sunny ;as long

As you can spend few hours in traffic here and there and

Few of those shaking quakes which happens now and then.

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You will thank the stars a few years down the road...I say this from personal experience and knowing you are firmly in the value investing camp.

 

I left with mutual consent in 2005 from a company where I worked 13 years and it was a life changing event in hindsight. Careerwise I found the job of my lifetime which allows me fantastic work-life balance including spending lots of time on value investing, including visiting this message board frequently.  ;)

 

A life changing event with the job change was I rolled over my 401K into an IRA and I've been able to follow the true value investing tradition.....a few names only, no diversification etc. Results have been great, I've done 10% thru 2005-10. I've never felt this good about the future. This would have not been an option as long as I was locked into my company 401K!!

 

I am now telling everyone in my circles to do this if the circumstances are right  (hate your job, have other opportunity) QUIT and most importantly take control of your retirement assets and of course follow value investing. I know so many people who leave their 401K at their previous employers resulting in poor to no returns!

 

Not surprisingly, this is not an easy sell....they get the job quitting part but not the value investing part. Everyone is brainwashed and convinced about mutual fund investing, diversification, not investing in individual stocks, flipping stocks etc. Most don't know what they are missing! I have to get about 10 years behind me and my personal investing story has a better chance of having impact in my circles. I will keep trying.

 

 

 

 

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However this doesn't bother most people who grew up in the northern latitudes.  I did not, so I suffer.

 

Though I grew up in Canada (Southern On) that gets me too in the winter. It is really a killer during the long dark winter months but when it snows its great!

 

I havent spent much time in Vancouver however I enjoyed my stay in Victoria BC.

 

 

FACTOID:  The southernmost part of Ontario is farther south than the northernmost part of California.

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I appreciate the positive comments. I do think it is for the best since I have wanted to move for awhile, and this must be the kick in the butt I needed. Barclays, BAC, and CS just announced a round of layoffs too, so at least i have some company. :-\

 

I love the company i have worked at since i pretty much could work my own schedule, with no micro-managing whatsoever, yet the city was so boring and uneventful. I needed a change of environment.

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However this doesn't bother most people who grew up in the northern latitudes.  I did not, so I suffer.

 

Though I grew up in Canada (Southern On) that gets me too in the winter. It is really a killer during the long dark winter months but when it snows its great!

 

I havent spent much time in Vancouver however I enjoyed my stay in Victoria BC.

 

 

FACTOID:  The southernmost part of Ontario is farther south than the northernmost part of California.

It still gets dark around 4-4:30 ish in the Winter here though (Southern On)

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Valuecfa,

 

Sorry for you loss.

 

I am not sure about the exact schedule of a sell side analyst, but what about time zone? Conference calls and other meetings are often aligned to the East Coast hours. For example, the guys at Pimco in Newport Beach California seem to have a fantastic location, but if I recall correctly they come to work at 4 and 5 in the morning. That would suck IMO.

 

Cardboard

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Sister lives in Palm Harbor, 30 miles north of St. Pete.  Nice area.  Interestingly, she also just got canned, the last duck standing in the IT programming dept of a company that increasingly outsourced all of it's programming to India.

 

Let me know if you need specific information about the Tampa Bay area.  :)

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Sorry to hear about the job loss. Have you considered Singapore? It's a great city for foodies, and it has a pretty robust financial community.

 

But you can't get chewing gum there. :)

 

I can't remember the last time i chewed gum anyway...Actually, my little mini-vacation to Hong Kong has turned into a big 2 month vacation touring most all of SE asia, along with Hong Kong, and Macau with an old college buddy. I now have the free time, so i might as well make the most of it! If i like the Singapore, who knows!? We are trying to arrange flights around mid September (right in the thick of monsoon season).

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Sorry to hear about the job loss. Have you considered Singapore? It's a great city for foodies, and it has a pretty robust financial community.

 

But you can't get chewing gum there. :)

 

 

Unemployment is low there, so you may not get canned.  But there's no guarantee you won't get caned.  :)

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