Memoirs of a Minyan: Lessons Learned
The purpose of the journey is the journey itself.
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.
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.
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.
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