Back in the mid-nineties I met Mark Rosenberg for the first time in his office in Stamford, CT. Rosenberg was/is a trend following trader. Recently, I caught this line from him describing John W. Henry:
“In 1980, Henry told me, ‘I’m going buy the St. Louis Cardinals.’ I told him, ‘You don’t have any money,’ but he always believed he would.”
Such a good piece of wisdom. Well, Henry did not end up with the Cardinals, but the Boston Red Sox were a nice consolation prize!
Fun story about Rosenberg? When I first met him he shared a great trading/entrepreneurial ‘way’ that always stuck with me. Sitting in his private office, and I still remember the book Future Shock prominently displayed, Rosenberg talked about the ups and downs of trading along with the mental outlook needed to excel. He told me that when the down times came, those losing money times, he would always come home and tell his wife that it was back to “franks and beans”. Meaning, he adjusted. He was pragmatic. He always cut back until trends came back.