Covestor and other possibly related thoughts

By Stefano Buliani

“Covestor is a new concept originated by a group of entrepreneurs who believe salaried fund managers have no monopoly on investment talent and shouldn’t have a lock on the rewards that come with investment success. Coming from the financial services and online world we trust our networks more than our brokers. We believe in democratizing the investment management industry and helping proven self-investors around he world compete with the large institutions.”

Nothing much to add, I think this paragraph explains quickly and effectively what Covestor is and why it’s so revolutionary.

What I want to talk about is progress.
Let me start with an example, Covestor. The greatest thing about it, at least for me, is that it makes my life better in a completely frictionless way. All I have to do is sign up and it will automatically populate my profile with my trades and import articles from my blog associating them with my holdings. Beautiful isn’t it. No work for me, all I have to do is keep doing what I do best and trust Covestor to mirror my account and show the world how good I am.

This morning I woke up half an hour earlier than usual to reply to same emails and check messages on 3 different phones. Every time I buy a new gadget, beautiful though as it may be, I have to wake up 10 minutes earlier to take care of it.

I don’t know about you but this is not my idea of progress.
All this technology is supposed to make my home a better place and my life a little bit easier. As far as I can tell I’m waking up earlier and earlier and working longer hours every single day.

As a kid I used to dream of solar-powered flying cars solving all congestion problems. 20 years have gone by all we have is congestion charge. A very creative way NOT to solve congestion and take some of our money so that public transport can keep running late without worrying about how much money it wastes.

Can you see what I’m ranting about?
I have a sony tv with a sony playstation 3 which reads sony blue-ray discs. The outcome is a forest of cables in my living room. For crying out loud can’t you simply put everything inside the tv.

Let me give you another example, something I understand better. Two days ago I met a friend who’s looking for an IT job in the financial sector. All jobs had a couple of things in common: Java, Struts/Spring framework knowledge.
I did use Struts once, the outcome was that my code was messier than before because there wasn’t enough time and it required three times the amount of code to work. This is just stupid.
This is the concept of progress that some dim-witted “freetard” (thanks Fake Steve, this word changed my life) at the apache foundation created for us.

I have a 40 Kg fridge in my kitchen, the Rolls of refriegerators. All it does is sit there, be heavy, and waste electricity.
Can’t it do something around the house? Clean up a bit, or at least clean itself? I don’t want to wake up half an hour earlier to check messages on 3 different phones. I want to wake up 10 minutes late and ask the fridge, who’s already checked my messages and picked up the mail from the post office, if there’s anything I ought to pay attention to before leaving. That would be progress. That would make my life better.

Thanks for reading my rant,

A Stressed Man

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