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Why Wall Street Will Never Be the Same

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We're experiencing seismic shifts in the markets.

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Two years ago, I wrote a column called The State of the Art. It discussed the evolution of Wall Street and the likely path it would follow. I pulled it up last night and its a bit frightening how prescient it was.

Twas early but, well, that's how we roll in these parts.

A new world order is upon us. A seismic shift. An inside out process that is redefining the brokerage intermediary.

There are two ways we can react to this--run from it or embrace it. It's happening either way and the onus is on us to adapt.

The greatest opportunities are bred from the biggest obstacles. The world will look vastly different when we pass through this period but that's the way the world works. From pain will come pleasure, not for all but most certainly for some.

If you look back at the Great Depression, a multitude of multi-billion dollar corporations found their footing.

Minyanville's Why Wall Street Will Never Be the Same Disney (DIS) built a global brand throughout that period.

Hewlett-Packard (HPQ) was born on the back-end.

Fannie Mae (FNM)... well, forget Fannie but you get the point.

I'm not a bandwagon guy and I won't pile on to the doom and gloom at these levels. Our foresight was well documented and there are no "victory laps" in this market.

And I won't presume that something "entirely more depressing than a recession" is a foregone conclusion, although social mood is seemingly shifting in that direction.

Remember, the stock market crash didn't cause the Great Depression--the Great Depression caused the stock market crash. I offer this as a reminder rather than a prediction and with the best interest of ye faithful in mind.

But alas, I digress--this is actually a positive post, a call to arms for Minyans everywhere to see what is happening and prepare for it in kind.

When we discuss societal acrimony, we often say that if you're not part of the solution, you're part of the problem.

When it comes to the future face of finance, the same dynamic will again prove true.

May peace be with you.

R.P.

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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 todd@minyanville.com.

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.

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