I think that when I was younger certainly, that was something that tripped me up a lot. I mean, I tended to kind of respond in a very personal way to situations that was either, innapropriate, or beside the point. You know, I think the more you can distant yourself, and have a little bit of perspective...”

Wise, wise words from a wise, wise man. This brings back so many cringe-inducing memories when we did not practice this advice. View previous MindCapsules™ with Malcolm Gladwell and Lewis Black.

Upcoming events at 92Y:

We recently invited our Twitter followers to submit questions for writer and broadcaster Mitch Albom in advance of his appearance Nov 4. Albom will discuss his new book, Have a Little Faith: A True Story, and the characters contained within, Albert Lewis, rabbi of Albom’s childhood synagogue in Cherry Hill, N.J.  and Rev. Henry Covington of Detroit. Mercury News.com writes:

Covington is doing good work through his I Am My Brother’s Keeper ministry, using the church to provide food, clothing and shelter to the city’s homeless — more than 100 on some nights. At the same time, Covington isn’t able to heat the expansive old building or repair the hole in the roof that allows wind, rain and snow to enter the 1,200-seat sanctuary.

Albom learns of Covington’s plight and writes about it in his column in the Detroit Free Press. He donates time and money to get the heat turned back on in time for Christmas Eve services last year.

“That was just disgusting,” Albom says one recent night while visiting the church. “It’s unforgivable. I know this is a poor city, but nobody needs to be that poor if they’re trying to be faithful.”

We would like to extend a special offer for our blog readers who would like to attend Albom’s event Nov 4. Purchase tickets for Mitch Albom and use code MCF9 at checkout to receive 50% off the ticket price.

Upcoming events at 92Y:

“When the global markets plummeted after Lehman Brothers declared bankruptcy in September last year,” the New York Times reports, “a handful of alternative investments remained stable or even made money for investors.” Among that handful were managed futures.

David M. Darst, chief investment strategist of Morgan Stanley Smith Barney, calls managed futures “financial Tylenol.” “Managed futures tend to do well during periods of great market volatility,” he said.

By way of example, Mr. Darst pointed to the period from the beginning of 2000 until the end of 2002, when the technology bubble burst and the economy was last in a recession. During that three-year period, managed futures gained about 22 percent on average, while the Standard & Poor’s 500-stock index fell roughly 38 percent, he said.

More recently, from September 2007 until the present, managed futures have gained around 20 percent on average, while the S.& P. 500 index has lost about 30 percent, according to Lipper, the fund tracking firm.

Mr. Darst said that one advantage managed futures had over hedge funds was liquidity. Some managed futures funds allow investors to take their money out monthly, while hedge funds typically have quarterly or annual redemptions. Mr. Darst said that managed futures funds could do this because the futures traded on public exchanges, while hedge funds often owned illiquid assets.

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