It was a hot Saturday night in New York in 1985. The young brokers in training were in second week of three, and mostly their money had run out---the suite of rooms at the swank mid town Manhatten hotel were paid for, but the real test of toughness was surviving on the small allowance. The very first day had been the eye opener. Flush at surviving the subway system returning from Battery Park, the brokers had ventured to have a quick cocktail at the Hyatt on the way home. After getting the bill, we realized.....at $10 a glass, the living allowance was going to last a week at that pace. So....beginning the third week, we were cooking spagetti in our room.
Hours afterward, as the brokers were getting ready for bed, the lone broker who had gone to the Broadway theatre came in----we all knew that somehow he had managed to pay the ticket price and now as he walked through the door, we noticed a stunning blond on his arm. He introduced her quickly as one of the actresses in the play he had seen. Then a quick hushed conversation with one of the brokers, and the two headed to the corner suite.
The broker was all smiles as he explained that this guy had given him $200 to sleep on the couch. Wow. What a windfall.
Just when I was about to ask who this guy thought he was, one of the guys told me.....he was the son of the owner of the World Trade Center. Over the years, the scene has made more and more sense to me.
Some reflective words on the art of trading....in business, stocks, or ...anything.....and in the spirit of the Book "The Tao Jones Averages," why whole brain analysis is critical whether in the rush of the bull, or the panic of the bust. This blog is an archive blog for prepublication of a small booklet.
