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Notes from the President
The last few months have been nothing short of extraordinary. The events that have unfolded (and continue to unfold) are epic and the volatility is enough to make a person dizzy. While no one has lived through events like this (I assure you, I thought Jimmy McKnight had lived through the Great Depression as well), I did turn to a few of our senior traders on the Street for some words of advice and wisdom. ‘During times like these, you just have to keep your head down, you have to keep working to the best of your ability, keep making your calls. You can’t control external events, you can’t control the markets, you have to ride them out. The one thing I do know is that eventually the markets will rebound.’ : Mike Smith CanaccordAdams (a very old Bay Street trader) History always repeats itself, especially in the financial world. Stay the course; the sun will come out tomorrow. With energy prices at these levels at least it is cheaper to turn the light on at the end of the tunnel.‘ Jimmy McKnight Jennings Capital (the oldest trader on Bay Street) ‘If you are new to this industry – you chose a hell of a time to join’ : Robert Standing aka The Buzzard (a really old Bay Street trader) We are moving into the Christmas / Holiday season with a lot of uncertainty and stress on Bay Street. These same fears are also starting to hit Main Street and there are a lot of people less fortunate than ourselves. The IETA has made a donation this year to the Hospital for Sick Children (Sick Kids) as well as the CP24/CHUM Christmas Wish Foundation on our membership’s behalf. Let’s be thankful for what we do have, try to help one another to the best of our abilities and let’s ride this downturn out and be ready for the eventual upswing. All the best Raymond James |
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Thursday, June 11, 2009 Friday, June 12, 2009
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