STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan conducted
this interview with Garner via email in early December 2007.
I know it's hard to imagine some brokers could make more money flipping burgers, but it is true!
Carley, how did you get interested in trading?
As a finance and accounting major in college, I was set on being a stockbroker. After a lengthy internship at a brokerage firm, though, I realized that selling high-load mutual funds wasn't enough to keep me interested. I needed to be doing something with a little more action, but more important, I wanted to be in an arena in which I felt like my services could make a difference. Even inexperienced investors can put their money in a properly diversified and age-adjusted mutual fund that requires essentially no maintenance. It seemed counterproductive to expect investors to pay high transaction costs in the form of loads for something that they could do without my help.
Although the risks are higher in the world of futures and options, I thought I could offer more value to my clients. I'm the first to admit to clients that profitable trades are not guaranteed; even the most experienced and educated traders have failing moments. But if the investors are willing to accept the risks involved, I'm more than happy to show them how to increase their odds of success.
What are some milestones you've achieved along the way to get you to what you're doing now?
I can honestly say I've enjoyed every minute of my career. Most people don't realize how difficult it is to make a living as a commodity broker. After watching the movie Trading Places, I know it's hard to imagine that some brokers could make more money flipping burgers, but it is true! For those who are willing to put in the time and effort, as well as be honest, even if it means missing out on a potential client, this industry can be very rewarding.
Coming into the business, I had been warned of the glass ceiling and everything else that comes with being a female in a male-dominated industry. There are very few women in commodities, but aside from a few bumps in the road, I believe that gender has actually worked to my advantage.
What else? You were telling me about a book, right?
Yes! With help from my partner Paul Brittain, I wrote a book that is set to be published in mid- to late 2008. It's titled Optionology 101 and delves into option trading from top to bottom. The goal of the book is to offer readers an honest, realistic, and useful point of view about option trading. Unlike a lot of the material that's available out there, this book was written from hands-on experience as opposed to an academic approach. There's a big difference between the option theory you learn in a classroom and what can actually be applied in the markets.
...Continued in the February 2008 issue of Technical Analysis
of STOCKS & COMMODITIES
Excerpted from an article originally published in the February 2008
issue of Technical Analysis of STOCKS & COMMODITIES magazine. All rights
reserved. © Copyright 2008, Technical Analysis, Inc.
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