27 April 1998
The first client’s account was opened. The delay in accepting clients was intentional, as CDAM did not feel that the time was right to invest when we got the licence. We did not want to put our clients’ money in fixed deposits and still charge them a management fee.
The first stock purchase was made. When the Federal Reserve cut interest rate for the second time in 2 months and outside the Federal Open Market Committee meeting, it was our buy signal after watching the world economy very closely.
We accepted our first corporate client.