A Tribute

On Tuesday afternoon, I was IMing my partner Scott about an entry point for a trade in the markets. I was watching the S&P 500 rally to 774, and was looking for some sort of indication as to what to do.

It was at that moment that I read a post on Minyanville by Bennet Sedacca. He was commenting, as he usually did, on the state of the credit markets, and shared with everyone online that he thought the shares of Goldman Sachs had just flashed a classic chart pattern. He initiated a trade right then and there, based on what he saw.

I've only been a member of Minyanville for six months, and have never met or talked with anyone who posts there. But I immediately thought that Sedacca's post was enough confirmation for me. I initiated the very same trade. At the very same moment, Scott did too, and we IMed each other on the trade. Of course, it immediately became profitable for us, further cementing Sedacca's reputation as one to watch going forward. I remember thinking to myself how lucky I was to have yet another smart guy like Sedacca to read and learn from.

And then today. Todd Harrison, founder of Minyanville, posted some bad news this morning of a terrible loss. He did not name anyone, but he let everyone know he'd be away from his office for a few days while he paid his respects. Almost immediately, Scott speculated that the bad news might involve Sedacca.

Earlier tonight, Todd finally disclosed the bad news.

It's a big loss. I never met him, but after just six months of reading Minyanville every day, you could tell he was special.

The future just got significantly tougher without him. May his family find strength and peace.