Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Thursday's with Story: Taking a Breath


It's high time we remembered the important stuff.


"What a dramatic airport."
Dr. Richard H. Thorndyke, High Anxiety

2008 has been a nutty strut as the new world order redefines itself.

Regardless of the spirited sprint off last week's lows-not to be confused with a bottom-nothing comes easy in this day and age.

There is no one reason for the disarray. It is, in many ways, a manifestation of the tension that's been building under the seemingly calm financial surface for oh-so-long.

Indeed, as I offered at the end of 2006 as the markets pushed to all-time highs, my greatest concern was that nobody really felt like we were at all-time highs.

As the excesses unwind and the past catches up with us, social mood has taken a turn for the worse.

Last night, I had the distinct pleasure of dining with Pete Moses, the CEO of The Children's Aid Society. We spoke about societal fabrics and the necessity of giving during a time when many people are struggling to take care of their own.

Stimulus packages and government policies are Band-Aids on a broken bone. Think about it for a moment-these are the same bureaucrats and politicians that sat idly by as the cumulative imbalances built.

Can we be certain that they've got our best interests in mind now?

Assuming they do, should we blindly bet they can suddenly find a cure for a disease that has now spread throughout the world?

We can certainly hope but just as hope isn't a viable investment vehicle, it alone won't set us on a course towards a positive solution.

As Gene Wilder said in Young Frankenstein, "Only love will save this monster."

Indeed, if there was a singular theme to come out of my dinner with Pete, it's that love-of ourselves, for our children and for each other-is the only savior for society.

I started The Ruby Peck Foundation for Children's Education to honor my grandfather and affect positive change. We aligned with The Children's Aid Society for last year's Festivus and continue that alliance to this day.

Bad seasons define good fans.

Bad times define good friends.

Bad markets define good partners.

As I said to Pete as we finished our food, "We've got to go through it to get through it."

Times are tough, Minyans, but every little bit helps.

We will get through it together.

Random thoughts:

Have a great day Minyans and remember to breathe!


< Previous
  • 1
Next >
No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos