Babak,
Here is the e-mail Todd sent:
"thank you kindly...i will not be back on RM.
wrote this sept 29th, fyi, never posted.
The Passing of the Torch
During the past fifteen months, Iâve sat in front of my computer each day with
the sole purpose of offering insight and providing value to the good readers of
this site. Quite honestly, I didnât know what to expect when I started. My
writing skills were raw, at best, and I was communicating to a faceless audience
with high expectations. After all, itâs one thing to trade stocks and live with
those decisionsâbut an entirely different thing to share those views with the
world on a daily basis.
I began with a promise to myself, and that was to always be honest with the
readership. My grandfather taught me that our name is sometimes all we have, and
regardless of whether youâre right or wrong, youâll always be able to live with
yourself if youâre forthright. Sage advice, from a wise man.
As time passed, I began to notice that something special was unfolding. Not
only did the diary allow me to synthesize my thought process, but it also served
as a conduit with which to share it. In the process, I learned a great deal
about myself--and the diary slowly morphed into something more than a pure
financial forum. It became, quite simply, a part of ME.
Iâve spent the better part of the last week revisiting the diary archives
and reminiscing about our journey together. The pop culture references always
seemed to provide levity as we discussed the dry subject matter that is the
market. The imbedded inferences in the song lyrics, however subtle they might
be, always carried a cryptic message as to what I was thinking. And who could
ever forget our lovable clan: Hoofs, Boo, Snapper and Sammy. They always seemed
to be there when we needed to have a town hall meeting in Minyanville!
Since last Summer, weâve navigated a tremendously difficult financial landscape.
There were surely times we failed, and often times that we triumphed.
Throughout it all, however, the real wealth has been found in our ability to
maintain perspective and focus on the important things in life. During Rubyâs
prolonged illness, I turned my considerable energies from the tape to my family,
and I was absolutely floored by the amount of love and compassion that was
offered to me by people Iâve never met. As a matter of fact, we used to print
out the hundredsâ¦if not thousandsâ¦of emails and read them to my grandfather as
he fought the good fight.
You may be wondering why Iâve chosen to take this walk down memory lane, and I
wish I could tell you that itâs just an attempt to creep back towards normalcy.
Truth is, Iâve always been up front with you regarding the âhatsâ that Iâve
attempted to juggle, and Iâve made a difficult decision with regard to my
current duties.
My first responsibility has always been to my partners, Jeff and Matt, as well
as the investors whoâve entrusted their money to us. As many of you know, our
offices were affected by the tragic events of September 11th, and weâve been
relocated to a temporary space outside the city. As President of Cramer,
Berkowitz, I have a duty to focus all available energies on our task at hand and
lead by example. As such, I will be stepping down from my perch atop the
trading diary and taking a sabbatical.
Donât kid yourself, this decision was not an easy one to make. Iâve grown
accustomed to discussing the various crosscurrents of my crowded KEPPE, and Iâve
found it quite helpful in maintaining focus and, dare I say, lucidity. However,
I must balance my priorities with my capacities, and do the right thing for the
time being. When weâre situated, I will continue to offer my views via longer
columns and, when applicable, daily insights.
After the attack, I asked you all to exercise patience as we digested the
aftermath of the horror. In some ways, that means allowing for time to heal the
emotional scars that we all bear. In other cases, it refers to the logistical
implications of our current displacement. If weâre to walk our journey one step
at a time, we must make sure each step is a sturdy one. For me, that means
rebuilding an operational platform and getting down to the business of trading.
Iâve developed a passion for writing and, more importantly, a genuine care for
the readership. As such, Iâm sure you know that my heart and soul has gone into
my column and that I take your performance personally. However, I cannot help
you until Iâm in a position to help US, and weâre actively addressing that now.
I can only be honest regarding my current situation, and thatâs what Iâm
presently attempting to do.
I would like to thank all of you for your support and patience, and for the
friendships Iâve discovered through this venue. Trust me, there are a lot of
good souls out there who want very much to make this world a better place.
Think positive, stay focused on the important stuff, and keep that right hand
up. With a little love and a bit of luck, weâll all find our way. Together.
May peace be with you.
R.P"
