Finally Cashing In On My Own Stupidity

In the late 90s I decided to conduct an experiment to see whether a professional broker might achieve superior results to what I could produce on my own. So I put a small portion of my IRA money in the hands of a Salomon Smith Barney broker who was recommended by a colleague at the time who had previously worked with him at J. P. Morgan. When we discussed my aversion to equity mutual funds he suggested a "structured portfolio" of small amounts of a diverse assortment of stocks that he would decide to buy and sell. There was a 3% fee (but no charges for buying and selling shares). It was like a mini-hedge fund in a way. And by the time I finally fired him -- years too late! -- I had lost nearly a third of the money I had put into his hands.

But wait! Yesterday I received a check for $221.14 for my share of the initial distribution of funds in the class action settlement on behalf of Enron stockholders. Yes, Enron stock was in that "structured portfolio". Yippie! Now I am finally beginning to cash in on my past stupidity.