When the financial crisis hit, financial services employees could have easily decided that patronizing strip clubs, alone or with clients, was an expense that had to go. Spent a few more hours on YouPorn and, when there were particularly substantial fees at stake, offered an enthusiastic hand job in the back of the cab after dinner. But guess what? Wall Street didn’t stop hitting up strip clubs and, on the contrary, redoubled its support. So much so that one gentlemen’s club in particular would like to express its appreciation. A little thank you, for always being there to shove 20’s in g-strings.
Allan Priaulx, corporate communications officer for Rick’s Cabaret International, a chain of adult entertainment lounges, says interest from bankers and traders remains high and business from the financial services industry is strong. The New York location of Rick’s on West 33rd street has seen “sequential gains” month over month since the financial crisis, he said. “We have a really solid base of Wall Street customers,” he added. “Most of them pay on their personal credit cards, unless it’s a legitimate company expense and then they use their corporate cards.” Total sales for existing clubs were up 5% from last year, according to company filings.
The more frequently you monitor your portfolio, the more likely you are to observe a loss.
This is likely to cause short-sighted decisions and could hurt your investment performance.
If you are checking your portfolio more than once per quarter, you’re doing it too much.
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Dan Egan, Betterment Director of Behavioral Finance and Investing