And finally, in an effort to help ye faithful maintain perspective, a random rant that speaks to the socioeconomic landscape:

Everywhere you turn, people are freakin'. They don't wanna turn on the television. They don't wanna read the paper. They don't wanna know from this show no more.

Case in point was this post on the MarketWatch message boards yesterday in response to my syndicated column that viewed the process of price discovery through an optimistic lens.

"Todd Harrison: You are just wrong. In fact I hope that you are the next person out on the street, destitute, eating dead rats that you cook over a garbage can fire. TO FEED YOUR CHILDREN. Then we will talk about your rosy optimism scenario in regards to the Great Depression. Yeah it was paradise for socialist agendas."

We rarely receive this type of feedback but it speaks to the shifting social mood and I share it for a reason. Negative energy is wasted energy and something good comes from all things bad. If you're not part of the solution, you're likely part of the problem.

We've done everything we possibly could to warn folks years in advance that this "prolonged period of socioeconomic malaise" was approaching. Now that it's here, we'll do our best to help folks find their way through.

Hey, I feel it too—we're all in this together. Nobody wants to see "the worst financial crisis in history" but it is what it is and we'll do what we must. We must attempt to sidestep the societal acrimony that we've spoken of all year or the crisis migration will shift from the financial sphere through the economic spectrum to outright social unrest.

We, the people, need to keep our chin up. It could be worse. You, or a loved one, could be sick or dying. You could lose an arm. You could lose your sight. You could—God forbid—be a Raider fan.

Perspective now, more than ever, is paramount. Don't forget to be true to you. No matter what, they can't take that away from us.


Minyan Mailbag: The Business of Giving - 12:56 pm

Todd,

You are the most successful and philanthropic-minded person that I know, so forgive me for asking. When someone from the hedge fund and private equity community contacts you regarding a suggested donation range to Ruby Peck, what do you quote? Have you adjusted your range in the past year, given the market environment?

I'm involved with an education related non-profit and wanted to calibrate our range.

Hope this finds you well,
Minyan Jay

MJ,

Philanthropy is always a function of donor "comfort" levels. Case in point is the upcoming Festivus on December 4th (all ye faithful are invited). We have a sponsor menu (TD-Ameritrade, Atlantic Advisors and BTIG have been very generous) and the "rack rate" for attendees, which is a marginal mark-up from our cost.

Pete Moses of The Children's Aid Society has written some great stuff on the 'business of giving' and I would suggest giving those columns a read as he’s as good as it gets in the charitable space.

Thanks for the kind words and best of luck as you do your part to affect positive change.

-Toddo


R.P.


Did you know the doors to Festivus 2008 are officially open? Have you yet locked your spot for the critter trot as last year's soiree sold out? (This is our annual event to commingle our professors, partners and Minyans while chowing down and listening to live music. The very best part? It's for the kids in the good name of my grandfather.)