Open Thread: What Are You Thankful For
By Barry Ritholtz - November 26th, 2008, 7:44PM
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Those of you who are traveling, please arrive safely at your destinations.
For those of you still at home — or have already arrived — what is it you are thankful for? Sure, its been a rough year, but now is as good a time as any to give thanks for what you do have . . . Is it Health, family, happiness, or what other good things?
So, what is it this year that you are grateful for?
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November 26th, 2008 at 8:10 pm
On top of the usual things, I thank all the years I lived before this one, accumulating experiences. It allowed me to stay steady like rock in these stormy seas we live now.
November 26th, 2008 at 8:21 pm
I’m grateful that the world is finally realizing (again) that people who make a living by betting a price will go up or down need to get a new job. Not only are they not productive, they are counter productive in the long run. The idea that they make allocation of capital efficient is absurd. It used to take 5% of the GDP to allocate capital, now in the age of computer automation it takes 20%. So I’m thankful that is coming to an end.
Next bubble to burst is health care and its bubbling costs. And the place to cut in order to find room in the budget is in the military. And new rule, if you can’t afford it you can’t have it.
This crisis is only a problem if you have a problem reality… personally I’m thankful we are returning to a sane world.
November 26th, 2008 at 8:34 pm
(a) the losses that I did incur in the stock market during 2008 were a lot less than what I would have incurred had I simply kept my money in an S&P index fund; (b) my overall debt-to-asset ratio is very low; (c) I have a job that is recession-resistant; and (d) no health problems.
November 26th, 2008 at 8:34 pm
Maybe already addressed but your LA Radio interview can be found here. Good stuff! These guys needed some schooling. Last year they were talking about state surpluses being the result of people selling their “Google Shares” , I can remember screaming into the radio wait for the deficits when housing implodes and all this Google money AKA property taxes on ballooning real estate vaporize. Guess better late then never for getting the message to the listeners.
Happy holidays!
http://www.kfi640.com/pages/podcasting/
John & Ken interview 6:00 O’Clock hour on the 25th
November 26th, 2008 at 8:34 pm
This blog.
November 26th, 2008 at 8:42 pm
i am thankful for this blog
i am thankful for put options.
i am thankful for being born in this country.
i am thankful for b. obama.
i am thankful for the taleb turkey analogy (turkey happiness futures hitting all time high today!)
everyone here is ridiculously lucky from a global perspective, so i’m thankful for knowing that.
happy turkey, all.
November 26th, 2008 at 8:46 pm
Grateful for health, family, friends, and happiness, sure. All the things money can’t buy.
Also
living comfortably within my means
being debt-free
unemployment hasn’t run out
husband’s social security covers all our living expenses
Obama won
and what debreuil said
November 26th, 2008 at 8:49 pm
The end of the Bush administration.
The downfall of the neocons.
The collapse of laissez faire capitalism.
The resurgence progressive thinking.
And the election of Barack Obama.
This has restored some of my faith in my fellow Americans.
November 26th, 2008 at 8:54 pm
Thankful for SKF and leveraged ETFs on both long and short sides.
Thankful for BlackBerries and iPhones making the Net ubiquitous.
Coruscation.
November 26th, 2008 at 9:03 pm
Thankful that as a small business owner, my partner and I make all of the decisions for our business. Right or wrong, we hold the responsibility.
Thankful for living in a Western country where we can make those decisions without (much) government interference (yet).
Thankful for the opportunity to voice an opinion on this blog and elsewhere without fear of repercussions.
Thankful for my partner, my kids, parents, family and friends. That’s what it’s all really about.
November 26th, 2008 at 9:10 pm
Quite thankful for the family and the dog.
I’m also thankful that turkey is the staple on Thanksgiving and not something icky like possum or aardvark (which is basically possum on the half shell).
November 26th, 2008 at 9:10 pm
I’m thankful for my soon-to-be-born son, and thankful that my wife is doing great although she cries a lot more.
November 26th, 2008 at 9:11 pm
I am thankful that to this point, within limits, I have lived my life exactly as I wished.
That requires, as the years go by, a level of maturity that most of my childhood friends probably felt I would never attain, and although I have made many mistakes, I have for the most part been true to myself and those who care about me. I have learned what really makes life joyful, and won’t lose that insight until I die.
November 26th, 2008 at 9:11 pm
(she’s crying because of the hormones!)
November 26th, 2008 at 9:25 pm
Curiosity. In many measures my life has been a disaster over the last year…lost love, lost money, and lost employment. It is curiosity about the world that spurs me forward and allows me to gain back the things that I’ve lost. When you are curious about life you are alive.
November 26th, 2008 at 9:42 pm
I am grateful to be living in a country where a cripple occupying the highest office in the land possessed such courage to speak the truth plainly:
“…The rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.
“True, they have tried. But their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit, they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. They only know the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish.
“Yes, the money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of that restoration lies in the extent to which we apply social values more noble than mere monetary profit.”
I am grateful to be living in a nation where principal stands as a saving grace from which we might find agreement in overcoming those grave difficulties we presently face…
November 26th, 2008 at 9:42 pm
No matter how screwed up things are right now, I am still thankful that we live in a country where we can still voice our opinions, as is demonstrated by your blog, Barry. There will be an end to this mess and I just hope everyone can come out the end with a positive view of the future.
November 26th, 2008 at 9:54 pm
Magnanimous-side-of-brain: Family, health, continued professional gratification and success.
Schadenfreude-side-of-brain: I’m thankful for the person who outbid me by 20% on a house 3 years ago. I walk my dog past this house frequently, and I fight the urge to ring the doorbell, to hug, kiss, and thank profusely whoever opens the door.
Happy turkey day, all!
November 26th, 2008 at 9:55 pm
Up here in Canada we had our thank-fest a while back. The days were a bit longer then, the nights a bit warmer. Still, there’s plenty to be thankful for now, even now. Hey, a big happy thanksgiving to Barry, and also to the American wise and wags who’ve helped make this site pretty damn cool. Thanks.
November 26th, 2008 at 9:58 pm
My turn to be sappy!
I am thankful for TBP and BR’s generosity. I am also thankful for the dear, real people, intelligent people, i’ve witnessed in the reply section. (Some of whom I’d love to hug, Bruce in particular, as I struggle to be true to myself, always. Mark, I hope I have enough commas in there for you.)
I’m thankful for the internet and wireless communication.
I am thankful for humankinds’ optimism and outrage; and may we continue to make progress slowly but surely.
November 26th, 2008 at 10:08 pm
Barry Ritholtz!
All of your great work — how do you do it?
My kids
Being employed, at a job where I can make a difference
Living in the USA
Obama’s ambition to be a great president and to be open minded. I hope he doesn’t think government is the solution — FREE MARKETs are!
November 26th, 2008 at 10:17 pm
I’m thankful about many, many things. But, one of them is: YOU FOLKS. Happy Thanksgiving, people!
November 26th, 2008 at 10:24 pm
Barry, one of these days, you might let us know when you’re taking a Caribbean cruise. Maybe a critical mass of readers will join you. We can romp around the Pool of Liquidity, scale the onboard Climbing Wall of Worry, and wear name tags with our internet handles. (Can’t you just hear “Hi, I’m ‘CNBC Sucks’”??)
November 26th, 2008 at 10:33 pm
I am thankful that I still have a job which leads into everything else in my financial life and will soon lead me to economic freedom. Considering the times we are heading into it is very possible not to have any work at all and if things go awry that could be a condition for many of us for quite some time
I am thankful for the internet which has done so much damage to the forces of enslavement and really has given the common man a second chance
I’m thankful for a full spiritual life that is played out mostly in my dreams and is getting richer as I get older
Of course I am thankful for God and for all He gives. The good that blesses and builds up and the bad that teaches and builds character. I give thanks that I believe in Him and most importantly, that He believes in me. Without that I would have given up hope 26 years ago when the rest of the world had given up on me. And I am also thankful for that angel He sent 24 years ago to save my life and snatch me out of the path of that oncoming car
And I want to thank the academy…..oh wait, wrong speech
November 26th, 2008 at 11:01 pm
I’m thankful that my wife, kids and grandkids all have good health.
I’m thankful that I quit drinking… 3+ years now.
I’m thankful that I still have a good job that can help support a business that isn’t doing very well these last few months.
I’m thankful that I can (almost) teach myself how MS Excel works.
Guess I’m thankful for many things in life and would like to thank everyone here for the generous information and abstract ideas posted on this thread. I believe it has helped many. Thanks Mr. BR for making this possible.
November 26th, 2008 at 11:06 pm
I’m thankful for Michael Kahn’s Getting Technical article on Barrons Online on July 25, 2007 which convinced me to go into cash with his discussion of the Hindenburg Omen. Man did that subscription pay for itself… (I’m also thankful for this blog, Calculated Risk, and Roubini, who all scared me into staying in cash afterward)
Oh yeah, and friends and family and stuff…
November 26th, 2008 at 11:08 pm
Thankful that I didnt go to Mumbai this November. As always I am thankful for indoor plumbing, the greatest invention of all time.
November 26th, 2008 at 11:36 pm
I am thankful for the kindness of man and for the love of our sons and daughters.
November 27th, 2008 at 12:17 am
Good family, good health, and good times.
Cheers and Happy Thanksgiving
November 27th, 2008 at 12:43 am
@mlomker
“Sorrows cannot all be explained away in a life truly lived, grief and loss accumulate like possessions.”
Stefan Kanfer
and
“The important thing is not to stop questioning. Curiosity has its own reason for existing. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvelous structure of reality. It is enough if one tries merely to comprehend a little of this mystery every day. Never lose a holy curiosity.”
Albert Einstein
I wish you better days in the future.
November 27th, 2008 at 1:20 am
I am thankful that U.S. policy holds that torture is a war crime and a reprehensible criminal act; I am grateful that in the U.S. no one is above the law; But mostly, I am thankful for my inate ability at self-deception.
November 27th, 2008 at 1:27 am
Normally, I don’t feel the need to post when my views have already been expressed so eloquently by others, but I guess some things are worth repeating. I am so thankful for:
The health and happiness that my family and I have been blessed with.
This wonderful country.
This blog and the squabbling bunch that dwell within – thanks for the insights, and the laughs.
Happy Thanksgiving and God Bless!
November 27th, 2008 at 1:45 am
I’m grateful for my family, my spouse, my friends, my job, my co-workers, my toys, and that not quite all of my money is gone.
Most of all though, over the last year, I’ve become much more optimistic about my generation. Ever since college I had always thought of our generation as being a bunch of spoiled kids who refuse to put any effort into anything. Now, after realizing that the previous generation is yet more spoiled (mostly by themselves) and so much more incompetent, I feel better about our future.
November 27th, 2008 at 7:17 am
I’m not american and hence not celebrating Thanks Giving,
But i’m definitely thankful for not being in Mumbai right now.
Happy holidays!!
November 27th, 2008 at 7:27 am
I’m grateful for my church community, and the God behind/above it.
I’m grateful for a happy marriage and a budding family.
I’m grateful to have a career that would have been a hobby anyway.
I’m grateful for a (presently, apparently, theoretically) stable job.
I’m grateful for a house full of extended family to enjoy the turkey and fixin’s.
I’m grateful for this blog and its commenters.
A co-worker from South America told me once that he saw a difference in the American (US) character. Rather than settling for survival, we strive to create and build better lives. I hope that there’s something to his observation, and I am hopeful that we will work our way through the present times in a way that reflects that vision. I’m grateful to live here, now.
November 27th, 2008 at 7:49 am
I’m thankful, I was lucky enough to be born in the United States of America.
I’m thankful, we had an election and a new President. It is time, we replaced our greed with more compassion in this Country.
I’m most thankful for having great parents who busted my ass when I needed it and love me more than anything in this world.
I’m thankful for my health. Several of my friends were not as lucky and are no longer with us. I miss them all; but, it won’t bring them back. In the end, all you have left are the memories.
I’m thankful for the occasional times when I am actually right about something and get rewarded for it.
I ‘ m thankful for BR and this website which has helped me understand WTF is going on around me.
I’m thankful we are free!
Happy Thanksgiving everybody!
November 27th, 2008 at 7:56 am
I am intensely grateful for the love of my girlfriend, family, and friends, my health, and living in a time of incredible prosperity and opportunity. This blog is pretty nice having around too… thanks for all your efforts Barry! (Oh.. and I’m also grateful for dumb money to fade and dumb ideas to disbelieve.)
November 27th, 2008 at 8:39 am
Klanasopan
November 27th, 2008 at 8:53 am
There are so many things that one can think of. I live in Delhi (India) and with people getting killed in Bombay, all I can think of is that I am thankful that I am alive, fit, aware and have a family who are also doing ok.
Yossarian used to count so many ills that could befall a man. So I guess I am just lucky and it sort of almost embarrasses me. Also makes me shit scared.
And good work Barry and all those who write in. Keep it up.
November 27th, 2008 at 8:59 am
OK…I posted previously a serious post, but this is too good….so forgive me.
http://biz.yahoo.com/ap/081126/aig_investment.html
AIG receives $40 billion from government program.
“AIG said it will use a portion of the $40 billion investment to pay off part of the previous loan from the Federal Reserve. “………
My wife and I were discussing this as it pertains to rescue of turkeys. If this new loan is used to pay off the old loan, if we give them more money, does the new loan have to be used to continue to pay off the first loan, or can the new loan be used to pay off the second loan?? And if we give them a new loan after that, can that loan be held in reserve to help pay off future loans, or do the new loans have to go for the loan immeditely previous, or can they go all the way back to the beginning??
Can someone smart help me with this?
November 27th, 2008 at 9:15 am
> Can someone smart help me with this?
I’m not that smart, but to me this sounds like the old T-shirt “Can I use my MasterCard to pay my Visa?”
I guess this goes on as long as the casino owner wants to let them stay at the tables.
Happy T-Day to you, Bruce, I have been entertained and enlightened by your posts, and inspired by your example.
November 27th, 2008 at 10:09 am
That I will be able to participate in the annual Turkey Bowl along with my life long friends and our children.
That the US occupation in Iraq is drawing to a conclusion.
That many of the myths held so dearly by the free market zealots are being questioned.
That the ethos of frugality and prudence is becoming an aspiration to many.
That the financial underpinnings of the Western World did not completely collapse.
That I have enough intellectual curiosity to be skeptical of conventional wisdom.
That I believe in GOD.
November 27th, 2008 at 10:31 am
Not much I can add to the eloquent comments above. The thing for which I am most thankful, in an up and down year, is that I am getting a chance, at an advanced age, to make the world a better place. I found out last week I passed the California bar exam. The hard part begins. Best of the season to all.
RF
November 27th, 2008 at 11:01 am
I am most thankful for my mom. She set me up well for life. Among many things, she taught me to save regularly and never to borrow more than you can pay for, because your reputation is more expensive than your lifestyle. But most of all she taught me to be nice.
I am grateful for the opportunity to have shared 49 great years with my brother. He taught me that in the end it is all really dust, and enjoying each other is the key to it all.
I am thankful that I have only lost 50% of my net worth this year, none of the mistakes I have made thus far have been fatal, and that as long as I have breath I can start again.
Most of all I am thankful for the kindness and generosity of the people who surround me, they know me and love me anyway.
November 27th, 2008 at 11:20 am
I am also very thankful for Wikipedia. Man I love that thing. I think I have learned more since the dawning of the internet age than I did in 8 years of college!
Google and Wikipedia, what a powerful combination.
And blogs such as this are also great sources of info, knowledge, and occasionally even wisdom! Thanks Barry and Nouriel, my two primary blogs.
November 27th, 2008 at 12:18 pm
It’s the truly important stuff I’m thankful for, today and every day. I’m thankful to have recovered from a heart attack and two heart operations in the past year. I’m thankful to be living in a beautiful place with a wonderful wife. I’m thankful that our son, who suffers badly from depression, has moved close to us and celebrate Thanksgiving with us. I’m thankful for the emotional support our daughter gives us all.
For the more minor stuff, I’m endlessly thankful to have discovered the joy of outrigger canoe paddling on the ocean. And for the support and camaraderie of my paddling buddies.
And for the least important: I’m thankful my discipline took me out of U.S. markets in January and out of everything by June.
November 27th, 2008 at 1:09 pm
I’m very thankful for my health, my wonderful wife and dog and family. Thankful we have a roof over our heads, heat, food to eat, and for the other “little” things that cost little to nothing in life.
November 27th, 2008 at 1:12 pm
I know others have said it, but I’m also extremely thankful for this blog. I’ve learned a ton over the past year and it has saved me A LOT of money.
November 27th, 2008 at 1:13 pm
much like mcrcr4, there is “Not much I can add to the eloquent comments above.”
and, much like hip, nearby, above, I, too, am most Thankful for my Mom. There’s a long list of a great many reasons why, though, simply, from her I’ve learned the Signal Truth: “Everyday is Thanksgiving.”
Of course, it’s good to hear that so many realize there’s much to be Thankful for, and, at least, there’s one Day of our Year named, specifically, for it, though, I think, we forget that, while, we start each Day with an L and endeavor to end it +E, Giving Thanks, for the opportunity to do so, at the minimum, is an, additional, A.
yes, from A=L+E
and, with time between course prep(Cooking, things are getting ready to hit the Table) drawing less, I’ll, just, add, that if we Are Thankful for our Tree of Liberty, and its nourishing Fruits, we should do the necessary work to spy its Roots, understand what it needs, and proceed to sustain and husband it.
and, yes, karen, that was a fine, plenty, # of commas..
November 27th, 2008 at 2:37 pm
Barry. Thanks for the forum. Still alive. Happy Thanksgiving all.
November 27th, 2008 at 7:54 pm
Bless Ben, and thank Hank: Thanksgiving prayer overheard at home of Lloyd Blankfein, CEO Goldman Sachs.
“Bless Ben Bernanke for giving us a lifeline when we were about to sink like rock in September…for taking us poor, scared multimillionaires into the Federal Reserve family by approving our application to be a bank holding company, and for waiving the pesky waiting period to review our application and perform due diligence. Bless Ben for all the other multibillion dollar “accommodations” he has bestowed on Goldman Sachs in this year of turmoil.”
“Thank Hank Paulson, our Godfather, for killing our competitors Bear Stearns and Lehman, for knee capping Merrill Lynch, for saving our behinds from billions of $ of counterparty risk at Fannie, Freddie, and AIG. Thank Hank, truly a family man, for allowing the Goldman Sachs “family” to control key positions at the U.S. Treasury and to advise him on how best to fleece the taxpayers. In these dire times, when even we Masters of the Universe may be exposed and cut down, let us thank Hank for giving us every chance to survive…to scam taxpayers, municipalities, pension funds, and widowers to support our gambling-with-other-peoples-money empire. We kiss your ring, Hank, for giving Goldman Sachs, the company, a $10 billion bonus (TARP) from hard-working taxpayers. Yes, though times are tough, we have a lot to be thankful for at Goldman Sachs.”
November 27th, 2008 at 9:06 pm
I am thankful that there is a God and He/She/It isn’t human. I pray that God gives everyone here wisdom and compassion in their dealings with both friend and foe.
November 27th, 2008 at 11:29 pm
I’m thankful for:
Life and love
Family (including 11 grandchildren) and Friends
Public Schools for the above
Liberty and the pursuit of happiness
Good health
The auto industry, which provided me, directly or indirectly, with 40 years of livelihood
America – even with all its problems
The Constitution
President-elect Obama
A roof over my head – with nobody bombing it
Spell check
Intelligent Bloggers
Music
Turkey
Pie
November 28th, 2008 at 12:52 am
My family, my God, my job, my education, and my home.
November 28th, 2008 at 12:46 pm
God Bless the Grateful Dead! And, I hope we are all grateful for our electoral process and the recent results. Now, if we can only work together with these Democrats, our lives may benefit as greatly as our portfolios.