Call Home?

Remember pay phones?

Photo: Igor Ovsyannykov. Source: Fancycrave

They used to be everywhere. We would see lines and lines of them at the airport. Convenience stores and gas stations would have one or two. There was an elaborate etiquette about using them, and waiting for them, and paying for them. There was even a business, where people would buy a pay phone, install it, and get an ongoing percentage of the nickel and dime and quarter payments.

But that’s all gone away. The point of having pay phones on the corner was to have a convenient way to call home or work or to tell a friend that you’ve arrived at the airport. But the phones in our pockets are much more convenient. They’re everywhere, with everyone. We used to be surprised when someone had more than one cell phone. Now, it’s almost standard to have both a personal and business phone. Phone booths are now curiosities and tourist attractions, something we have to explain in old movies, like crank-start automobiles or why airplane pilots keep saying “Roger.”

Phone booth in New York City. Photo: NYCScout. Source: Flikr. CC-BY-2.0

Technology changes, and some business models just don’t work anymore. If our investments don’t adjust with the times, they may end up as obsolete as an old pay phone.

Douglas R. Tengdin, CFA

Charter Trust Company

“The Best Trust Company in New England”

By |2019-02-04T06:59:02+00:00February 4th, 2019|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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