Paul's Market Insights
Paul's Market Insights is our bi-weekly communique to provide clients with current insights on financial markets.
I met a young man wearing a black hooded sweatshirt the other day when I was in line to buy euros for an upcoming trip. We started chatting, and he mentioned he was “in finance.” I asked what area of finance. He hesitated for a moment, and then said, “I’m a day trader. It has a bad name, but it’s nothing illegal,” he added hurriedly.
“Day trading,“ I replied, measuring my words, “can work for a few people. If you’re quick and manage your risks.”
The word “Hello” is a relatively new word, dating back to just 1827. It was favoured by Thomas Edison to begin conversations on the new invention of the telephone.
Alexander Graham Bell preferred “Ahoy” for his version of the telephone, which was an older Dutch greeting used to greet ships. The first phone book in 1878 included instructions on how to use the device, and the recommendation was to start with a hearty “hulloa,” which made Hello permanent and Ahoy a non-starter.
When your friendly banker calls and says “Hello, your mortgage is coming due,” she is using a much older word.
The word “mortgage” dates back to a French combination from the 1400s. Mort means ‘death’ and gage means ‘pledge,’ so mortgage is, essentially, a death pledge.