Randoms: Walk the Walk
It's not about a salary, it's all about reality.
They say art imitates life and nowhere was that more evident than at last night's premiere of The Philanthropist. It's the story of Teddy Rist, a playboy billionaire who travels the world with philanthropic muscle, rolling up his sleeves to effect positive change in exotic--and some not so exotic--places. This NBC blockbuster rolls out tonight and should give Lost, 24 and Grey's a run for their money as the best hour of television.
In the interest of full disclosure, I'm biased. I've known the real Teddy Rist for almost 20 years and we've shared more than our fair share of smiles. Bobby is a brother and I look up to him for a number of reasons, some of which shine through the show and others of which were left on the cutting room fall. He's a guy who talks the talk and walks the walk, the real deal, if you will.
I share this for two reasons. First, Bobby's message is extremely Minyan consistent: Society is a sum of the parts, we must take responsibility for our actions as part of the solution and we should never underestimate the ripples a positive pebble can make in the pond of life.
Second, I want to alert Minyans to Bobby's cause and encourage them to spend some time chewing through his experiences. Some of you might recognize some of the photos from the recent Police Concert but they only scratch the surface. He and his family are remarkable, and I don't toss that word around lightly. I sincerely hope his message permeates and inspires folks much the way he's inspired me.
Some market oriented vibes as I step through the four handle...
- I carried some Research in Motion (RIMM) calls home after yesterday's schnitzel and punted them into the gap fillage.
- In terms of the big picture, my tune remained the same for the better part of the last two months. At the time, I offered that once we popped through S&P 875, the level of lore would be S&P 950. Since that posted, we've slithered sideways in a 9% range with S&P 950ish the apex.
- I'm operating with a stair-step stylistic approach. S&P 950, S&P 920, S&P 900 and S&P 875 were--and remain--technical contexts with which to frame risk and I'm staying light and tight overnight.
- Will S&P 956 will be the Widow's Peak of 2009? As discussed Monday, my sense is that a window exists through the first week of July. If Hoofy can't rally his troops by then, the probabilities we've seen the peak rises in kind.
- The most bullish thing on my Hump Day screen? Breadth is 5:1 positive and beta is well bid.
- Potential flies in the try? JP Morgan (JPM), American Express (AXP) and Wells Fargo (WFC) trade heavy and the dollar is edging higher (not an issue yet but worth keeping on ye radar).
- The very smart and talented Jack Lavery offered up his take on the state of the economy and it's very much worth reading: An Economic Trough on the Horizon?
- I'm juggling more balls than a prepubescent Larry Bird so lemme jump and juggle the struggle. As always, Minyans, I hope this finds you well.
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 firstname.lastname@example.org.
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