Hey there, it’s been a while. If you’re reading this then I thank you for sticking around.
This blog was a passion project of mine that I revisit from time to time. I still write about markets, but I do that on behalf of my great employer - Freedom Capital Markets. You can sub here to get my weekly market thoughts and updates every Monday morning.
This place is more personal for me. The purpose of this post is to look back on 2023 with great appreciation for those people and events that shaped me and leave me bullish about 2024 - yes, I will weave in a few financial twists for all of my fellow FinTwit geeks.
Personal Look Back -
As 2023 rolled in my Eagles were the favorite to win the Super Bowl, a recession was almost a 100% certainty and I was happy and comfortable at my job.
Within weeks all of those things were turned upside down.
My Eagles … well, let’s not discuss the second half of the Super Bowl, but they broke my heart, but at least I still had a Phillies season to be excited for 🙄😢.
The recession call … I’m glad that the financial world bungled that one. We rallied in January and never looked back. By year end we made back almost all of the losses incurred in 2022.
My job … cost cutting measures led to an elimination of that on January 11th. I miss the people more than anything and am their biggest fans. Lucky for me - they are fans of mine and helped me with the next steps.
The Pivot and People Along the Way…
I’ll never forget that first call I made when I got the news after I personally became a statistic added to the January jobless numbers. The support I got, the positive attitude and thoughts that came through fueled me. That call meant the world and started a positive spiral that inspired me. The onslaught of support from co-workers and friends was unbelievable. The fact that they saw the positives and opportunities for me helped assuage many of my own fears.
Within hours of the news people were reaching out to me. I had only told a select few, but apparently news travels fast at the NYSE. It traveled to one of the most unsuspecting places as well - to CNBC’s Jim Cramer. (Thank you Slimy 😁)
His team members Brian and Brad told me Jim was looking for me. I thought maybe he had a floor guest for me to host on his behalf. I’ve been proud and blessed to help him out over the last 10 years with many of his visitors. The highlights included his family and many Philadelphia Eagles. This time was different - he was there for me.
The conversation was quick and to the point. I doubt he remembers it or knows the impact; he believed in me. Believed in me so much that he gave me his number and insisted I use him as a reference on my resume. I did and am very proud of it.
The next conversation was with one of the many brokers I did battle with over my time as a market maker - Tommy Bent. I had the utmost respect for him and I found out the feeling was mutual. He got in my ear about an opportunity. To be honest, I listened half-heartedly. I was still in shock and processing. Thankfully, Tommy kept getting in my ear and I finally listened to what he was telling me which led to the eventual opportunity I would take - I’ll get back to that…
Processing…
I have the luxury of looking back now at the “break” I had between jobs. In hindsight it wasn’t much of one. I was out of action from mid-January til April 3rd. In financial terms - I just missed Q1. The break ended up being needed and necessary.
It was needed because I got to tend to my sick aunt. She lived alone in the Bronx and had been struggling in health. My family was all she had and she needed us. I crossed the GWB a few dozen times over that stretch and relocated her to NJ. The one positive about my Bronx trips was that I got to see a few more Fordham basketball games than normal. It was a season for the ages as they went 25-8 and finished among the top of the A-10, but I digress…
The other part was cathartic. I got to clear my head. I went on a lot of walks where I got to talk to some of my closest friends, had deep conversations, listened to podcasts and music and just was at peace. Getting outside was critical. It seems simple, but those walks may have been some of the best quality time for me in 2023.
Then there was the FinTwit community that embraced me. I had been scheduled to do some media before my job change and each media outlet still wanted me. I can’t thank the people at Yahoo, The Street, Money .Net, StockCharts and my friends Josh Brown and Michael Batnick from the Compound and Friends for having me on and letting me talk life and markets while I was technically unemployed. You have no idea that you were doing me a huge favor at the time.
The Next Steps…
I talked to many firms and operations within the financial world. Several doors were wide open for me and I was excited about what path could be next. I finally listened to my friend Tommy and sat down with the team from Freedom Capital Markets. They liked my experience and thought I could help them in many aspects. One of them was media. They liked some of my appearances with my last employer and thought I could do more. I was flattered, but I was small-time; I never appeared on any of the big three financial TV networks - CNBC, Bloomberg or Fox.
I mulled over that opportunity as well as two others. They were the fit. People and character mean the world to me and they had it. Plus they believed in me so I wanted to prove them right. I like to think after nine months I am doing just that.
Media Journey…
I started with Freedom on April 3rd. We knew it would be a slow start, but I didn’t expect things to be derailed so quickly. Sadly on April 19th my aunt passed away and I took a few days away from my new job to tend her arrangements. The events that occurred after her passing still boggle my mind.
My aunt was a big Fox Business person and watched it vigilantly. Within 24 hours of her passing, I got a call from Fox Business’ Cavuto Coast to Coast. I asked my new PR team from Zito Communications if they arranged it. They knew nothing about it. It had to be a sign*.
The following week my team from the CMT Association celebrated their 50th Anniversary and we were chosen to ring the NYSE bell. Do you have any idea what a tough ask that is, let alone what kind of achievement it is to be up there? Not only did we get to ring the bell, but my team asked me to be the bell ringer. I’ve been at the NYSE for over 15,000 bells, but to ring it was truly a highlight of my career.
Then in May the beginning of my hits on the Big 3 occurred. I appeared on Fox Business on May 11th (watch here) with Neil Cavuto and have been a regular ever since. Since then I have also become a regular guest on Mornings with Maria, Bloomberg TV and my unexpected dream - CNBC.
I’ve known the team from CNBC since they started at the NYSE in 1995. I have had the honor of being one of the “guys on the floor” quoted by Bob Pisani or Maria Bartiromo for years but was never allowed to be front facing. I’ve become friends with many of the team there, but special shout outs to Bill Griffeth and Kelly Evans - you both have been friends and big supporters, for that I am grateful.
Somehow that guy on the floor has become a semi-regular now. I am proud to represent my firm and the floor community on every media appearance. I know the next appearance is never a guarantee. One slip up and this part of my career could be over. I don’t take that for granted nor the opportunity given to me and the people I represent.
It’s not easy, but I love it. Surprisingly I do not get nervous. Something comes over me when it’s time to be live. I get to the point, don’t get too verbose and make concise arguments about my views. I wish I could do that in my personal life where I tend to be the opposite. If you know, you know.
Lessons Learned…
While the above is a quick and concise version of my 2023 journey, there are key lessons I learned this past year.
Be kind to people and take the time to help others, you never know who you inspire or who comes back in your life and can help you when needed.
Get outside. Walk. Talk with your closest friends. Read. Listen to music, podcasts and respect other’s opinions.
Most people don’t care. Whatever your problem may be, people will give you lip service, but only your true friends will care. You will know them when you need to. They are a blessing.
Dig deep to find the good in every situation. This is the hardest thing for me. Personally, I hate the holidays. They have never been a good time for me. Choose happiness - it’s what I need to work on the most and plan to make that a part of my 2024.
Thank those around you - often. I will keep it real simple though each name should be mentioned. In fact, I should’ve led with the thank yous, but this isn’t an awards ceremony and I don’t want to leave anyone out. If you reached out to me, were part of the walk or daily conversations or part of my new team of co-workers, I can’t thank you enough. I am grateful you are in my life and better off as a result.
2024 Thoughts…
I did say that I would add some financial stuff in this post as well. I’ll keep it simple - I am bullish. I think we have another up year that’s slightly above average. The noise and headlines that come from this election cycle will be epic and unpredictable - block it out. The market does not care.
If you want to hear more in depth about what I said about 2024 you can watch any of the below videos.
HAPPY NEW YEAR!!
*Weeks later I learned my good friend Judy Shaw recommended me for the spot. She started me on this media journey with Floor Talk and for that I will always be grateful.
Jay---even though I haven't really "known" you for many, many years, when I see you on TV, I feel like I do. Your dedication to the markets and the NYSE is impressive. When we worked together, we worked for the old-timers and now you are one. Keep up the great and important work.