Don’t Read If You’re Under 50 or Have Less Than 30 Years in the Business

I have a picture of my son and daughter, when they were 8 and 10, in front of Delmonico’s in downtown NY. It goes along with the picture of me, when I was about that age, standing next to the piano (as you came in, on the left – gone sometime in the late 70s or early 80s). I remember how to manually figure out a fixed commission, as well as MannyHanny, a dozen (or so) individual Fortunoff stores in a decaying Brooklyn neighborhood where hot pretzels were three for a quarter, and Dean Witter picking up Reynolds. And I remember when EF Hutton talked, I remember when they built the trade center (my father’s office overlooked it), and I was there the day it fell (took shelter at AIG). I remember why, first hand, if you gave your word for a trade at Harry’s you had better keep it – regardless of the next morning news, and I lived through the ’87 crash (options in the money – I didn’t think they could trade lower than wall paper), along with the layoffs and reading in the Sunday paper that Rothschild’s muni business would close the next day. And I was there for the credit crunches, currency (and country) failures, the Tec ‘hits’ and bust, and I’m here now, for all the fun.

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