Over the past week, lots of people have called and emailed me to ask what\u2019s causing the crisis in the markets. It\u2019s simple: Arrogance.<\/p>\n
Arrogance is what has brought extremely powerful Wall Street firms to their knees, wiped out billions of dollars in assets, and lost thousands of people their jobs. It is arrogance that is the root of the crisis in the credit markets, what has caused all of this havoc over the last few weeks, and what will probably cause it to happen again sometime in the future.<\/p>\n
As I wrote last week, there was so much news and information being thrown at me that my head was spinning. Well, I\u2019m pleased to say that spinning has stopped. Just like the cause of today\u2019s troubles, the solution was simple: Turn it off.<\/p>\n
The TV is off, I\u2019ve cancelled my newspapers, and I\u2019ve stopped surfing the web trying to figure out what is going on, what happened and what is going to happen. I have made my life much simpler and I love it.<\/p>\n
Things are starting to get back on track and as we slowly make our way through the weeds, as we end of one of the most treacherous, tortuous and tumultuous weeks ever to hit Wall Street, there is one thing that we\u2019ve learned. What we have learned is that the sun will always rise, and there\u2019s still going to be a line at the Lincoln Tunnel during rush hour.<\/p>\n
So, here\u2019s what I think you should be doing and thinking about if you\u2019re thinking about during the next few weeks: Nothing. Don\u2019t do a thing. Relax. Take a breath. Go outside for a run. Play with your kids if you have some. Try to make some if you don\u2019t. Just try to enjoy yourself. Because tomorrow is going to come and things will get better. The tide is going to turn and you need to be ready.<\/p>\n
Hang in there, stay focused, pay attention and remain calm. The times they are a changin\u2019. It may take some time, but change will occur and all will once again be right on Wall Street and Main Street.<\/p>\n
In other news, we finished HedgeAnswers this week. It was quite interesting and a lot of fun. The roundtable discussions were engaging, and panelists provided thought-provoking strategies for creating and launching hedge funds both here and abroad. If you didn\u2019t attend this year\u2019s events, look for information about HedgeAnswers 2009 some time after the first of the year and get the dates on your calendar so you don\u2019t miss these great programs.<\/p>","protected":false},"excerpt":{"rendered":"
Over the past week, lots of people have called and emailed me to ask what\u2019s causing the crisis in the markets. It\u2019s simple: Arrogance. Arrogance is what has brought extremely powerful Wall Street firms to their knees, wiped out billions of dollars in assets, and lost thousands of people their jobs. It is arrogance that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-469","post","type-post","status-publish","format-standard","hentry","category-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/posts\/469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/comments?post=469"}],"version-history":[{"count":0,"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/posts\/469\/revisions"}],"wp:attachment":[{"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/media?parent=469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/categories?post=469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aandcadvisors.com\/de\/wp-json\/wp\/v2\/tags?post=469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}