A former money management marketer is running for governor in the state he moved to after quitting the business and leaving New York almost 20 years ago.
This guy was a good source of mine in the 1980s. He had a classic type-A personality, knew everything going on in money management and talked so fast I'd always miss part of what he was saying.
Another marketer still active had dinner with the ex-marketer about five years ago and just recently shared his observations with a friend, who passed them on to me.
Most alarming: Talking to the guy was like talking to Rip Van Winkle, he said.
He was amazed to hear what had transpired since he left. It was particularly the scale that amazed him, the active marketer said of his dining companion. He noted this was a man who was totally plugged in and up-to-date on all aspects of the business, but when he (left), the clock stopped.
It seems to me that someone with such high political aspirations no matter how latent they might have been five years ago would have continued to be a voracious consumer of news even though he was no longer in the rat race.
I have no problem with the fact that he obviously quit reading Pensions & Investments, but surely he would have continued to devour The Wall Street Journal or The New York Times. Had he read either of them, he would have had a decent idea of, among other topics, how the money management business had evolved.
I understand he became a real estate developer since he left money management. I would think someone in real estate would hunger for news on the economy, finance and, of course, real estate.
Perhaps my former source is an Everyman when it comes to newspaper reading, and perhaps that's why newspapers are disappearing almost as quickly as this guy used to talk.
I imagine that as circulation dips, the papers can't command as high an advertising rate as they once could. Add to that the proliferation of free access to news via the web, and you've got a lethal combination.
But back to my main point: It appears the guy stopped reading the publications that give us a broad take on what is happening not just in finance, investing and business, but also in politics, his new chosen profession. I don't think I could vote for someone to run my state who doesn't have that broad take.