Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts

06 April 2013

Resurfacing

You can judge me for eating
half-baked brownie goo more often than
medical professionals advise, though. 

It's been an embarrassingly long sabbatical, but I've cleared out the cobwebs and have flexed my writing muscles for something other than summarizing credit overlay matrices (which are a real thing; I didn't just make that up).  Like a duck that has held its breath and dug for grubs in the mud, or whatever it is that ducks to do get their food, I am now resurfacing.  Please do not judge the rest of this post by that truly awful simile.

In the Western world, there’s a very popular narrative that follows “conventionally successful” people.  It involves someone in a “conventionally prestigious career,” like law, medicine, finance, politics who has everything he or she is supposed to want but is lacking that life-affirming sense of satisfaction.  Said successful person takes a leap of faith and pursues that oft-cited road less travelled, changes his or her entire life, simplifies/streamlines/some variation of that verb, and finds that life-affirming sense of satisfaction.  Usually, this narrative involves a wealthy white person “finding him/herself” with the help of non-white people.  Eat, Pray, Love is probably what comes to mind (apparently the author was actually given an advance by her publishing house to finance her nine months of self-finding, if you’re curious).

This narrative doesn’t even have to involve the whole cultural shift.  Think of that guy you heard of who quit his job at Goldman Sachs to become a painter.  Think of the lawyer who was at his desk at 11pm, had an epiphany, quit his job, and moved his family out of the big nasty city and into a place where they might not be rich but where they could connect with nature and breathe fresh air.  God, think of that Nicolas Cage film The Family Man.  Weirdly enough, we’re taught to believe that all the things that are right to pursue are actually wrong and that breaking from convention! is where the true meaning of life lies.

(Just to fuck with you, though, you should still want all the things you should want.  I’m sure there’s a way to reconcile those two things, even though they’re mutually exclusive.  This is why there are so many Tibetan craft shops in places like Marin County.)

A year ago, I had a plan.  My plan was to get my TESOL (Teaching English to Speakers of Other Languages) certificate and to teach English in China.  The end goal was to, after a year, have enough contacts that I could find a job in international trade or finance over there, which is a logical but definitely not a guaranteed outcome.  Everyone waxed poetic about how brave and exotic this plan was to the point that you would have thought I planned on becoming fluent in Lingala, hot air ballooning over the Congo River basin, and setting up a sculptors’ commune in the Ruwenzori Mountains.

I might have actually had somewhere to wear the multitude of traditional clothing I bought during my internship in Tanzania.  Pictured: me at 17, significantly less clued in to pretty much everything.

Needless to say, it was pretty flattering.  I felt terribly cool.

However!  To support myself while I got certified, I was writing and researching for one of my dad’s associates in the mortgage banking industry, which meant that I was working in not just in finance, but probably the most hated sector of finance (in case you somehow missed the ulcer-inducing collapse of the global economy back in 2008).  Saying that you work in mortgage banking is like the anti-free-spirit-breaking-from-convention.  As far as most people are concerned, you’re more interesting/more ethical/generally a better person in every way if you say that you’re a corporate lawyer…and people hate corporate lawyers.

The thing is, though, that I liked the writing.  I liked learning about the industry and watching and analyzing how the big-picture changes came into effect in response to government regulation or international economic movements or releases of consumer data.  I liked using my brain to wrap my head around the myriad moving parts and how they all affected one another.  No one in finance is supposed to find their job interesting—everyone is supposed to burn out, sell their soul to the devil, lose track of their true passion in their relentless pursuit of moneymoneymoney before falling, weeping, to their knees when they realize just how empty their life is, etc.—but here’s a dirty little secret: some people do.  I won’t say “a lot of people” in finance do, but rest assured that there are some.  I would know.  I’ve worked with them.

So last June, there I was, certified, ready to take my St Andrews degree to go teach English for $1500 a month.  I was up to my elbows in interviews, 95% of them with institutions that were clearly less than ethical in their dealings.  One recruiter told me that he wasn’t sure about actually getting me a job, but that I seemed like “a great girl” and had “a great smile” in my picture and that we should definitely meet up for a beer when I moved out there (oh, totally!).  Another offered me a job (which I accepted), wrote back two days later to say that it had actually been offered to someone else, and then repeated the process with two other positions.  Another told me I should fly to China on a tourist visa and that they would take care of getting me a work visa when I got there (nota bene: if there’s one thing you don’t want to fuck around with, it’s Chinese visas). 

The absolute last thing I wanted was to relocate across the Pacific at great expense and effort to find myself in trouble with the Chinese government with no support from my employee, shelling out insane money for a lawyer, and facing deportation.  If you go looking for horror stories of people that blindly accept teaching jobs overseas, you will find thousands in a matter of seconds—people getting deported, people getting unfairly fired, people signing contracts they can’t understand, people getting a quarter of the pay they’d been promised.  I was 22.  My parents had paid for eighteen years of private education (and a lot of other stuff).  I really, really didn’t want to call home broke and in tears and I really, really didn’t want to feel as though I’d spent another year dicking around before I was on a career path, which I saw as pretty key to becoming a real adult.

On top of that, as much as I loved Shanghai, early summer in the San Francisco Bay Area is seriously nice.  Waking up to yawning blue skies and warm sun day in and day out was glorious after having existed under British cloud cover for so long.  The taste of the drinking water, the ease of getting to the beach or Napa or Tahoe, the fresh produce, the unexpected enjoyment of having my family close by—these were all great.  The Bay Area might have been where I grew up, but deciding to stay here instead of going to Shanghai didn’t feel like a consolation prize (at all).  Not to mention the fact that, in terms of job hunting and laying down a career path, this is where the bulk of my contacts were.

I’m a bond trader now.  I spend a lot of time in Excel, have a calculator that I actually use on a daily basis, and discuss things like deliverables and ROI and risk management.  A typical day involves trading $35 million at a time to investors like JPMorgan Chase and Wells Fargo, tracking the Cyprus bailout plan, and discussing strategy with our hedging guys on the east coast.  There are expensed dinners with investors where lighthearted chat gives way to hardball negotiation and bluffing after a few bottles of wine are put away.  The office is a total boys’ club, and I get a lot of flak if I order a vodka cranberry instead of a neat scotch when we go out for happy hour (“imagine if you’d ordered some pink girly shit like that when you were out with a bunch of other traders on Wall Street; they’d never take you seriously again”).

Outside of work hours, I live in a new apartment with pool, jacuzzi, gym, deli, and dry cleaner on site right next to the bay, and it feels like my own personal oasis.  If it’s 3am and I’m six miles from home in a bad neighborhood, I can take a taxi and not stress over how much more it’s costing than the bus.  When I’ve had an exhausting day, I can opt for takeout instead of trekking to the grocery store and cooking.  My friends and family will confirm that the quality of their birthday and Christmas presents has taken a turn for the better.  I can pick up the tab when one of my friends has a special occasion, donate as an alum to my schools, and leave the kinds of tips that I like to think are actually a pleasure to receive, as opposed to the you-can-tell-how-much-I-resent-this-particular-social-custom kind of tips.

Oh, and I should actually be able to get into the housing market down the line so I’m not hemorrhaging money for rent every month for the rest of my life.  O-M-effing-G.

So, if I were to be considered successful, it would be successful in a very conventional way—and I don’t even hate what I do!  Another dirty secret—in fact, I really like what I do, and I like the people I do it with!  No one’s going to make a Hollywood epic about it, but I’m pretty okay with the Eat, Pray, Love devotees and other free spirits not thinking that I’m doing something “cool.”

Years ago, I remember my dad saying that after decades in the industry, he still woke up every day excited to close another deal.  If I could at some point have that in a job, I thought to myself, that would be awesome.  I believed that, if I had a job that made me feel that way by the time I was fifty, I would have arrived.  I have that right now at age 23 (well, almost 24…urgh).  I genuinely look forward to going to work in the morning, which I’m fairly certain that that translates to satisfaction.  I’m not walking around in a perpetual state of existential ennui wondering how life got to be filled with so many things but to be so devoid of real meaning.  I’m actually pretty fucking happy. 

As for the idea that I turned down a life-changing opportunity or took the “boring” or “sell-out” path, I can see how my choices might have come across that way.  Consider this, though: there’s a reason that rent in San Francisco is astronomical.  People want to live here, and that’s because it’s a fantastic and bizarre city and it's San Francisco to the core—in no way does it feel like a so-called “typical” developed world city.  For all the experiences I may be “missing out on” by not living in China, there are an equal number I am getting by living here (like taking BART through downtown Oakland at 10pm on a Thursday—when you’re sober it’s terrifying, but when you’re buzzed it’s hilarious!).  I’m also sure that there are Shanghainese 23-year-olds who are working in finance who considered taking that alternative path and moving the San Francisco but who are tremendously happy with what they did opt to do.  Kind of like Chinese mirror Cecis.

Maybe my sixteen-year-old self, if I could get in touch with her, would be rolling her eyes at how very boring I turned out to be.  Keep in mind, though, that my sixteen-year-old self was in many ways kind of an idiot…and didn’t appreciate the value of a really excellent 1997 Napa Valley cabarnet.

This is where I get to live my life as a, uh, soulless drone.  

20 August 2012

Insider trading and love in the tropics


This may surprise a lot of people, but I was unclear on the exact definition of insider trading until very recently. I had a general idea, of course, thanks to that Martha Stewart case a few years ago, but if you had asked me to provide a definition, I would have had produced little more than vague, buzzword-laden sentence fragments and sweeping hand gestures.

Then, the other night, I was out to dinner with my dad and brother Ted as a sort of last family hurrah before said brother moved to New York (if you’re reading this, I’m very happy that you landed such an excellent job with great perks and advancement opportunities etc etc etc, but I’m still mad at you for abandoning me). My dad was scheduled to make a trip to Orange County in the next couple of days, and being a naturally curious person, I asked him what it would entail.

‘We’re working with a lender down there and a private equity firm that’s going to give them $X million of capital,’ he told me.
Private equity! That was interesting.
‘Which lender?’ I asked. My father shook his head.
‘I can’t tell you that.’
‘Oh, come on,’ I protested. ‘Why not? It’s not like I’ll shout it from the rooftops or tell Rob.’ (My boss, whose commentary is read by tens of thousands of people on a daily basis.)
‘No, I can’t tell you,’ my dad repeated.
I was a touch put out. Was there a general perception that I couldn’t be trusted with secrets? That I wasn’t worthy of being privy to the company’s goings-on? I was about to get really offended when Ted spoke up.
‘If he told you, that would be, like, a textbook instance of insider trading,’ my brother helpfully pointed out.

Oh.

Moral of the story, if someone you know is about to coordinate a deal with a public company that involves a lot of capital, don’t be offended that they won’t give you the details. They’re probably just trying to not get put in prison for white-collar crime.

On a totally unrelated note (or is it?), I type this from the beautiful island of Maui, one of the most stunning of Hawaii’s numerous stunning islands. The ocean’s waves are crashing softly on a spit of golden sand and making that peaceful rustling noise I love so much, and a line of slender palms are waving their fronds in the light breeze. The air feels the exact temperature of my skin so that I blend into the summer evening like an unwitting ninja.

I am back in the tropics, and I am very, very happy.

Hawaii was utterly last minute. My friend Clare texted me last Friday with a message that read: ‘Hawaii 15-22. are you free?’ I’m not sure what I texted back, but I think it was along the lines of ‘fuck yes,’ give or take ten exclamation points. A ticket was booked, I cancelled an appointment or two, my shorts were washed, and that was it.

Clare and I can be found wreaking havoc in San Francisco most weekends, reveling in the fact that we can legally drink alcohol in this country, but we go way back, all the way to the halcyon days of the mid-2000s. We both attended The Branson School, where we sat our myriad AP tests and had class in the glen in nice weather and occasionally skipped class to go to the beach and got told constantly how vital it was that we go to a Prestigious University™.

In no particular order, things I adore about being in the tropics:

1. It’s hot. Duh. Not having to wear a jacket at night is one of life’s great pleasures, as is being able to walk around in a bikini shoeless. In temperate climates, I sort of feeling like everyone else is operating at their peak and I, with my blue lips and chattering teeth, am at something of a disadvantage. When I come to the tropics, I’m enlivened by the heat, not unlike a warm-blooded reptile, and frolic around with boundless energy as everyone else drags. The view is nice from the other side.

2. It’s humid. This means hair and fingernails that grow faster (!), better digestion, improved circulation, soft skin, and a glorious feeling of exhaustion at the end of the day. Long ago I discovered that I physically function much better in humid weather, so my body feels fucking amazing right now, to put it indelicately.

3. Delicious fruit. Papayas, pineapples, guavas, those tiny sweet bananas, and my personal favourite, coconuts, are all present here in abundance. They also taste much, much better when they’re not carted across an ocean.

4. The dim mauve coolness of the early morning before the sun rises. For some reason I can’t fully explain, I really love that before-the-waking-people time of relative freshness. I imagine it to be the time when those who need to get things done bustle about and do them so that they’re out of the way before the lazy heat rolls out and the folk on holiday whose to-do lists consist of ‘read crappy book’ awaken. 

5. Bright colours. The flowers, the birds, the ocean, the houses. You’re allowed to paint your house persimmon in the tropics. You’re allowed to wear lime green without people scowling like you’re hurting their eyes. I don’t even wear bright colours most of the time, having retreated into a preference for exiting shade like dark blue, hunter green, and grey, but I find this immensely cheering.

6. The architecture. Tile floors, high ceilings, old creaky wooden fixings, dilapidated shingles worn down by heavy, damp air—all unassumingly glorious. I love that sense of ‘it’s not perfect, but it does its job, so whatever.’ Cold weather requires a sturdy house, a powerful heating system, plush carpeting, and lots of thick-legged furniture, in my opinion, otherwise you risk a Siberian gulag-type vibe. Having had a lot of experience of what it’s like to be mind-numbingly and painfully cold, I panic at the thought of being in a rickety house where air whistles through the cracks in the foundation.

7. The excuse to drink particular cocktails. Ordering a daiquiri, mai tai, or, heaven forbid, a pina colada in the middle of Tokyo or London or New York is kind of gauche. Even in California, it’s kind of gauche. Being in the tropics, this is not only acceptable but encouraged (I pointedly ignored my mother’s observation that ‘pina coladas are pretty fattening, you know,’ which she told me over the phone this morning).

8. Geckos. They’re cute. They make funny noises.

9. It’s green. There is something very satisfying about existing amidst miles of greenery after having existed in an arid landscape for a long time.

10. Being allowed to run late. In Indonesia, one often hears the term jam karet, which translates literally to ‘rubber time.’ In Hawaii, it’s ‘island time.’ The technical and much less charming term is polychronocity, a polychromic culture being one where a deadlines or appointment are really just suggestions. Singapore is one of the very few tropical places that comes to mind where a monochronic culture exists, but in places like Tanzania, Guatemala, Sri Lanka, or the majority of the Caribbean, you can pretty much run twenty minutes late and no one cares. As someone who is perpetually running twenty minutes late, I appreciate this very much.

12 April 2012

Why I don't write much anymore

The reason I don’t write much anymore is because I spend most of my time writing. What! What japes are these? you may exclaim. Since January I’ve been working in the wide world of mortgage banking consulting, which most people react to with an about-face and a bland ‘mmm.’ On the How Cool Your Job Sounds scale, mortgage banking consulting is one step above ‘I’m in insurance’ but still at the opposite end of the spectrum from Supermegafamous Rockstar Deity, modern day treasure hunter, and happenin’ club owner. I’m usually quick to add that it’s actually really interesting (really interesting!) but no one ever believes me. I’ll bide my time. You’ll see, when you’re trying to get an FHA loan but have disputed and/or outstanding collection accounts exceeding $1,000 and are desperate to know if there have been any recent underwriting policy changes, I’ll have the last laugh.

You can see the fruits of my labours at http://robchrisman.com/, though my name doesn’t go on any of it because for some reason mortgage folk tend to trust people with MBAs and several decades of experience in the biz over some punk 22-year-old who has never owned a property. If you want to go all out you can even subscribe to the daily commentary and talk shop with that plethora of mortgage bankers you know. There’s always a joke at the end, and no, I have nothing to do with that part (she said humourlessly). And I do mean to be more on top of putting stuff in the blog. Really, I do.

Plus I get to do this in California, which isn’t bad at all. Tee hee.

This isn’t meant in any way to be ‘promotional,’ and I’ve decided to finish it off with a picture from the simultaneously terrifying and hilarious 90s cartoon Bananas in Pyjamas.
























Somewhere along the line, there was a person who said, 'Let's make a children's show about anthropomorphised fruit that wears an article of clothing that rhymes with its name. Oh yeah, let's make them doctors too.'