12. Brokedown Palace

It was a beautiful, crisp September morning as I looked up from my Wall Street Journal to watch the sunrise over the East River. It was a peaceful moment, and I paused to reflect on the beauty of the landscape and my place in life. That was the first thing I remember about 9/11, how sharp the horizon was as day broke over lower Manhattan.

Our hedge fund was bearish on the macro landscape but positioned for a countertrend upside trade heading into that session. As I settled into my turret and downed a second cup of coffee, Nokia preannounced a negative quarter—they released news that business was worse than expected—and the stock shot 5% higher. It was a telltale sign that the market was washed out, proof positive that traders ...

Get The Other Side of Wall Street: In Business It Pays to Be an Animal, In Life It Pays to Be Yourself now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.