Todd Harrison: Things I've Learned
The purpose of the journey is the journey itself.
It's Friday. December 13, 2013. Markets are flat today; either the calm before the storm or the beginning an onerous stalemate into the new year.
The holiday season is also upon us and for many, a respite awaits. Folks seem to be looking forward to a little downtime more than I remember in past years; you know it don't come easy.
I don't have any grand thoughts or intuitions to share that I haven't shared in this space almost every day for the last 12 years. I've seen a lot of markets in my time and this one is right up there. It's fascinating, frustrating, and moving fast, perhaps too fast. Neil Young once sang, "It's better to burn out than fade away," and all I can say is, I hear you, man.
In the absence of something original or unique, I thought I would dig deep into the troves for some old school vibage.
Have a great weekend, and fare ye well into the bell.
Things I've Learned
- Honesty, trust, and respect are the constructs of any successful endeavor.
- Anxiety is the friction between where you are and where you should be.
- Time is the most precious commodity.
- What goes around comes around.
- The greatest wisdom is bred as a function of pain.
- Look yourself in the eyes when you brush your teeth.
- Bad times define good friends; bad seasons define good fans.
- Be good to others and better to yourself.
- Work to live; don't live to work.
- Time is the arbiter of fate.
- Opportunities are made up easier than losses.
- If you are unhappy with anything in your life, you are the only one who can change it.
- One hand washes the other.
- Where you stand is a function of where you sit.
- The only difference between genius and madness is acceptance.
- The only difference between intervention and manipulation is communication.
- The only difference between a lesson and a mistake is the ability to learn from it.
- Negative energy is wasted energy.
- Adapt; don't conform.
- Take the high road; it's less crowded and has a better view.
- Be thankful..
- The definition of an investment should never be a trade gone awry.
- To appreciate where we are, we must understand how we got here.
- Drugs that mask symptoms aren't the same as medicine that cures the disease.
- The opposite of love isn't hate; it's apathy.
- There's no shame in admitting it's hard; there's only shame in pretending it's not.
- The friction between opinions is where education is found.
- A dream is only as powerful as those who believe in it.
- Money comes and goes.
- The reaction to news is more important than the news itself.
- Tomorrow is promised to nobody.
- Good traders know how to make money, but great traders know how to take a loss.
- Seeing old friends is good for the soul.
- By the time you get to where you want to be, the journey will be over.
- The only difference between being early and wrong is if you're there to collect.
- The best way to build a growth company is by surrounding yourself with people who can themselves grow.
- Hope isn't a viable investment vehicle.
- Stay humble or the market will do it for you.
- Be careful with people who don't like animals.
- The ability not to trade is often as important as trading ability.
- The Crash didn't cause The Great Depression; The Great Depression caused the Crash.
- Social mood and risk appetites shape financial markets.
- The leaders coming out of a crisis are rarely the same as those who entered it.
- The ability to add capacity into a downturn helps define the winners on the other side.
- Discipline trumps conviction.
- There is a massive difference between having fun and being happy.
- Gratitude is latitude.
- Society is simply a sum of the parts.
- View obstacles as opportunities and problems as possibilities.
- The air of integrity gets thinner with age.
- The meaning of life is a life of meaning.
- Think positive!
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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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