October 19, 1987 and How It Impacted Me
The events leading up to October 19, 1987, and that followed in the days, weeks and months afterwards, would play a tremendous role in my career and personal life. While I would become a money manager, hedgefund manager and have a mutual fund that bare my name, I would also lose millions more than once and suffered two horrific bouts of depression that brought me to death’s door.
I received the business nickname “Wall Street Whiz Kid”, thanks to the then “Business Editor” of Good Morning America, Steve Crowley. Steve did a story about this then young (inexperienced) man, who not only predicted the crash back in August 1987, but on the morning of October 20, 1987, was considered “insane” to then forecast a new, all-time high within two years (Trust me, most folks on October 20, 1987 were worrying just how the crash was going to impact their lives and had no desire to buy stocks).
Earlier this year, I spoke again with Steve Crowley after almost 30 years since our last “conversation”.
You can hear that interview here and a clip of the original interview on Good Morning America is among other old clips here (The Good Morning America interview is at the 4:40 minute mark) of the “Former” Wall Street Whiz Kid in this montage of past media interviews from the days I was a “legend in my own mind”, and turning the “Ten Commandments” into the “Ten Suggestions”.
Oh by the way, despite my soothsayer days behind me, I’m here to tell you in my heart of hearts, October 19, 1987 was nothing compared to the road the financial markets are about to go down. Buckle up and know yours truly sits comfortably below (In cash, ownership of gold and just two stocks).