The Cody Word
  • November 9, 2008 01:44 PM EST by Cody Willard

    Flip It: Strike While The Opportunities Are Cold; Now's The Time To Really Hustle

    Once I had a woman I could call my own
    Once I had a woman now my woman is gone
    Once there was a river now theres a stone
    You know its evil when you're living alone

    Water of love deep in the ground
    No water here to be found
    Some day baby when the river runs free
    It'll carry that water of love to me
    -- "Water of Love", Dire Straits

    Remember when everybody used to come on Happy Hour and tell us:

    * Bankers and investors would come on during the last few months of 2007 and tell us how they were masters of the universe and would be forever and that we were nuts for saying asking over and over if the investment banks were even solvent if there actual balance sheets were visible...

    * Real estate agents to the rich and those from places that hadn't been hit by the Great Real Estate Depression of the 21st Century would tell us how safe they were and how nutty were for declaring over and over that there was never a better time to sell NYC real estate than now...

    * Millenials would come on and tell us how they could demand luxuries like at-work back rubs, free-time allotments, etc, because they were was so much more demand for their skills than there was supply and that we were insane for telling them to take what they could get when they could get it...

    I don't bring all this up to kick people when they're down.  Rather I bring it up because if we have learned anything during the last decade of these wild economic and societal swings from bubble to burst, is that those complacent times were when we were supposed to be cashing out, both professionally and financially, and more importantly, we are supposed to pay our dues and slowly scale in when times are turned down.  While I continue to think we're likely rangebound in these markets from, say 7000 to 9500 for what could be years, I think there's never been a better time to buckle down and hustle for your career to prepare for the next upturn than right now.

    Times will be tough for a while, perhaps a long while, but the economy will indeed turn upward again.  Deals will get done and those who have paid their dues during these horrible economic times will be the ones who can cash out, at least professionally (and of course it's always through our careers that is the best way to build our financial base too), the next time the economy has improved.  And, some year, the economy will indeed improve.

    Yes, it's still all about the SLOW MONEY, so I'm pretty sure we gotta think about our careers in terms of years, if not decades.

    I've been working as hard the last couple months as I've ever worked in my career -- and you're reading a guy who didn't miss a market open or close for five years straight -- as have many of the smartest people I know (which includes many of my co-workers at FBN).  Those finding themselves out of work and lacking traditional new corporate career options...well, I've been there, and I'm pretty sure right now is when you outta get online, volunteer, do work for equity -- whatever it takes, do something everyday to put a wheel in motion for your career that might slowly (or might not, that's why you put a little bit out there in varied and new directions each and every day).

    I wrote in a song a few years ago, and it's something that's always true for anyone who's striving to take that next step in their career:  "I've already paid my dues; but my pay ain't due."  Pay those dues right now.  I know I am.

    Here's hoping that when our pay comes due, the returns on the investment might very well be a bit Buffett-esque.

    PS.  I've got a couple web projects that have absolutely nothing to do directly with my TV career that I'm about to release that we at GetTheRevolution, LLC need some help on.  Not much, if any pay, for now (we're a start up, and you know what that means, especially given this funding environment) but like I said, if you're hungry and wanna pay some dues and perhaps build some equity over time...well, send us an email at RevolutionResumes@gmail.com.

    We need smart, hungry programmers and/or web designers with references (even if it's your mom and uncle for whom you built a rockin' blog for...that does count for references, because another thing I've learned over the years as I've seen so many bright young kids create fortunes for themselves and others is that the meritocratic platform for career advancement that the Internet enables does indeed work in Internet time....).

    Don't contact me directly about this, btw.  Send your resume to RevolutionResumes@gmail.com if you're interested and my peeps'll take care of ya.

B Scott

Why is it that historically, when people from almost any downtrodden country in the world who face bleak futures in their own country, have always turned to immigration as a viable option.I would recommend that the real hustlers consider immigrating to one of the developing countries and help them build their economies. This would reduce the unemployment rate in America, and be a win win solution for all concerned.

November 9, 2008 at 4:52 pm

Glenn

Here's the link to the proposal's author: http://www.nd.edu/~tghilard/ This is what happens from centuries of inbreeding among the Intelligentsia.

November 9, 2008 at 3:38 pm

Glenn

Hello, Cody. Hope you are having a nice weekend. I think we may be in for a little rougher time than you might think. The people's gold was confiscated by that anti-hero FDR in 1933. Move forward 75 years and we have this: Carolina Journal Exclusives Dems Target Private Retirement Accounts Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs By Karen McMahan Link to McMahan's article: http://www.campaignforliberty.com/wire.php?view=512 Link to paper referenced: http://www.sharedprosperity.org/bp204/bp204.pdf I stopped participating in retirement plans years ago once I realized the potential for government to intervene and plunder accounts. Notice the Illuminati connections(Rockefeller Foundation). Today on Meet the Press the guest representing Barry and the Obombas transition team stated that while there is only one president at a time, BO will be "ready to rule when he takes power" - those were her words. I hope you all see what's coming...

November 9, 2008 at 3:30 pm

about this blog

  • Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company. He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."

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