Who's Reading the Stock Pages and The Wall Street Journal These Days? The Answer May Surprise You.
By Bonnie Drew
When Allen Johnson was a kid, everyone thought he would be a doctor because his father and grandfather were both doctors. One morning at breakfast, when Allen was 12 years old, he asked his dad what he was reading in the newspaper. The answer changed everything.
Dr. Johnson was reading the stock pages. He explained that for quite some time, he had been making stock purchases for Allen. Surprised, Allen listened closely as his dad talked about each investment he had made for Allen. Then he showed Allen how to find the stock listings in the newspaper and check their daily progress.
Suddenly, Allen became very interested in reading the stock pages, too. Before long, he also began reading the Wall Street Journal and trying to learn all he could about investing. When Allen was 14, his dad felt he was ready to begin making some of his own investment choices.
Allen chose several good stocks. One was a security technology firm whose anti-theft device was so good, everyone wanted it. Allen bought it at $8 and while he held it, the stock split about 10 times. He finally sold it at $100. Another wise stock investment for Allen was purchasing MCI when it first opened for business. Dr. Johnson gradually left all the investment decisions to Allen.
Still planning to be a doctor, Allen went off to college. There he continued investing, often checking the markets between classes and reading the Wall Street Journal instead of his text books. One day in chemistry lab, Allen's professor noticed him reading the WSJ and said, "Why are you taking chemistry? Why aren't you in a business class?"
Allen thought about that question for many months. Then he made a decision that was not well-liked at first by his family. He decided not to become a doctor, but to become a stockbroker instead.
"It was really hard to go against my family tradition," he says, "but today I am one of the lucky people in the world who gets to do what they love every day."
Since earning his Masters in Business Administration (MBA), Allen has had a very successful career in financial management. Today he is Senior Vice President of Raymond James & Associates, a full-service investment and financial planning firm in Atlanta, GA.
"What I enjoy most about the world of investing is the constant change," he explains. "Every day is a new day with new variables, new tax laws, and new markets. I love the intrigue."
What's Allen's advice for a young person interested in becoming a stockbroker?
"The most important skill you need is the ability to relate well to all types of people," Allen states. "A good stockbroker is sensitive to the needs of clients. I really feel good when I can help people solve financial problems and reach their financial goals."
He also advises young people to begin educating themselves now by reading financial publications or books and by taking classes on investing.
Bonnie Drew is the author of FAST CASH FOR KIDS (2nd edition), published by Career Press (1-800-227-3371). She is also the creator of the KIDS BUSINESS software for young entrepreneurs, available from Homeland Publications (713-332-9764).
Drew is also Editor of Young Entrepreneur magazine, published by Kid's Way, Inc., a company that helps youth prepare for business and the workplace of the 21st century. For more information, write to Kid's Way at 5589 Peachtree Rd, Chamblee, GA 30341 or call toll free 1-888-KidsWay (1-888-543-7929).
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