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Memoirs of a Minyan: Lessons Learned


The purpose of the journey is the journey itself.

Financial literacy is a cornerstone of our societal evolution. That won't be found in a sound bite or a lightening round, it's a lifelong process that requires time, patience, humility, and an ability to surround yourself with people you trust who have skill-sets that complement your own.

That's the calling card of the Minyanville community. We don't claim to have all the answers but we pride ourselves on asking questions that provoke thought. And while we won't give advice -- that would be misguided given the unknown risk profiles and time horizons of an unknown audience -- we'll share what we're doing, why we're doing it and how it's being done in real-time.

My most lucid thought with regards to the market is that we're witnessing a cyclical bull nestled within a secular bear. The financial crisis hasn't disappeared; it's simply changed shape as it migrates from the financial to economic to social sphere. That can manifest in many ways and it's a multi-linear dynamic, meaning the script can change at any time and the ramifications will arrive in waves.

Capital preservation, debt reduction and financial intelligence are the hallmarks of any successful strategy; at least until such time that the cumulative imbalances are alleviated from the system. That doesn't preclude further upside but it's most certainly something to keep in mind as we together find our way.

We'll chew through our market view in the weeks and years to come. In the meantime, it's my sincere hope that by sharing some of my missteps, be them life lessons or market mistakes, others will have the foresight to avoid them altogether.

It's never too late to start, entirely alright to dream and perfectly normal to stumble. Just remember to enjoy the journey; for by the time you arrive at where you want to be, the trip will have already ended.

May peace be with you.


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