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Celebrating Minyanville's 10th Anniversary: Wall Street Selector Interviews Todd Harrison


In this one-on-one, Todd Harrison discusses his book, his trading psychology, and the US economy.

Todd Harrison: And that I think is manifesting itself in the social sphere. The three phases that we've been talking about on Minyanville for a long time are societal acrimony, social unrest and geopolitical strife. You can see the societal acrimony in the Tea Party uprising, the way the banking industry and BP (NYSE:BP) and other big businesses are viewed by the mainstream, and we're seeing social unrest overseas in the riots, and the spring of discontent is now edging into a hot and bothered summer.

That needs to stay on the radar because if the last leg of the tricky trifecta, geopolitical strife, comes to pass, we need to remember that social mood and risk appetite are what shape financial markets and that psychology is paramount going forward and I think we are in the process of a psychological paradigm shift.

John Nyaradi: I always like to end these conversations, Todd, by asking if there's anything on your mind right now. One thing that keeps you up at night that people should watch out for.

Todd Harrison: I think patience is important. I think it's important to remember that The Depression was an era, it wasn't an event. The crash didn't cause The Depression, The Depression caused the crash. These are big conversations which are not to say that the market can't continue to rally. I just think that we need to make sure that when we have these sorts of discussions that we draw a distinction between economic recovery and the stock market rally. I think they are two different conversations.

John Nyaradi: Well, folks we've been talking with Todd Harrison, author of The Other Side of Wall Street: In Business It Pays to Be an Animal, In Life It Pays to Be Yourself.

The book has received great reviews from people like David Stockman, John Mauldin, Barry Ritholtz, Marc Faber, Herb Greenberg, and many others. I would like to add my humble endorsement and say that this is really a book you don't want to miss.

Todd, it has been great chatting with you. Thanks so much for joining us.

Todd Harrison: I appreciate it, John.

(Interview recorded and edited for length and clarity.)
Editor's Note: Read more from John Nyaradi at Wall St. Sector Selector, a financial media site specializing in exchange traded funds, global markets and economic analysis.

Twitter: @WSSectorSelect

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