Alexis Glick
Alexis Glick
Alexis Glick is Vice President of Business News and an anchor of Money for Breakfast.
Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange, providing live daily updates for Squawk Box. While at CNBC, Glick also contributed to Street Signs and Closing Bell.
Earlier in her career, Glick was an Executive Director at Morgan Stanley where she headed the New York Stock Exchange Floor Operations. A member of the New York Stock Exchange since 2002, she was the first and youngest woman to manage such an operation for a bulge bracket firm, and served as one of its top producers on the Listed Equity Trading Desk. She began her career as an analyst at Goldman Sachs in the equities division.
Glick is a graduate of Columbia University, where she now serves as a member of the Board of Directors of the College Alumni Association.
What was your first job?
My first job out of college was at Goldman. I was hired into the two-year analyst program, but I guess you could say I was a guinea pig. I was one of the first non-MBA's hired onto the Equity Sales Trading desk. What does that mean? We talked to the portfolio and hedge fund managers who were responsible for purchasing large blocks of stocks in the marketplace. It was about as big pressure cooker as you could imagine. As Wall Street insiders could attest..."No great idea is successful if you can't execute it in the marketplace." That was my job and that happened to involve trading hundreds of millions of dollars daily.
Are you a spender or a saver?
I'm a spender, but I'm smart about my money, too. I wish I could say that I was a better saver but I think I choose to live in the moment. As my dad says, "You never know when it will be your last." Most of my money is invested up in real estate. I bought my first home at 24 years old and several homes later, it's proven to be my best investment. (Other than my husband and my three boys.)
What was the one thing you regret buying?
No regrets! Every choice good or bad teaches you something about yourself. Mistakes are worth taking. Life without risk is not an option for me. Follow your passion, do what you think is right and trust your gut. Dream with your eyes open!
What was your biggest money indulgence?
My honeymoon in South Africa. It may have been more expensive than the wedding itself but boy was it worth it! I can't wait to go back.
What was the best money advice you received?
When buying real estate, never look at what's inside the four walls. Buy first and foremost for location, location, location. See potential. Don't be afraid to knock it down and rebuild. Know what it could be with the right direction. Two tear downs and four homes later, I still believe this is where you can get the greatest return on investment.
FOX Translator
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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
