TRADING FUND
זכרו תורת משה | December 09, 2024
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TRADING FUND

זכרו תורת משה | June 27, 2025

William Abood was a partner in FXCM, a large trading firm on Wall Street, where people from around the globe would exchange their money. All their business brought in a great profit, and he used his wealth smartly: He was very generous when distributing tzedakah, and he was the go-to address for many organizations. For example, R’ Zechariah Wallerstein went to him to help cover the mounting budget for his high school, Ohr Naava.

One day, Abood’s whole enterprise went under. When the English currency dropped, his company continued trading it without coverage. In a short time, his multi-million-dollar company went bankrupt, to the point that it suddenly became illegal to exchange funds with them. In a short few minutes, he had nothing left but some pressing court cases.

Sometime later, R’ Wallerstein approached William and asked him how he was able to move on with this misfortune. He went from being a wealthy individual to having nothing; how was he continuing after such a downturn? (R’ Wallerstein was known for approaching people who faced life-challenges and probing them as to how they overcame them. When he then would speak with his students, who also faced serious challenges, he would be able to relay how others with similar challenges overcame them.)

“Let me tell you something,” came William’s reply. “In the 1990s, I worked at a small firm here in Manhattan, which had a total of thirty traders. There was one large table where all thirty of us sat. I grew very close to the employee on my right; we worked together for years, and we developed a very warm relationship.

“One day, he was offered to manage a trading firm from a company who wanted to become the biggest in the world. His friend received notice that the growing corporation was looking for a man suitable for the great task, and he was chosen. ‘You can hire a staff of whatever size you want,’ he was told. ‘Anything so that we can build up this project.’”

This friend had sought out many helpers to assist him, and William was excited about it. The new firm was even offering open checks to their new workers — something quite tempting. When the day came for his friend to take along his new team with him, William realized that he was not one of them. This “friend” hired fifteen of the thirty members of their firm, leaving out his close friend. William was no doubt frustrated at the unexpected shutout.

He held his grudge for a year and a half — until September 11. As soon as William heard about the plane hitting the 98th floor of the Twin Towers, his whole frustration vanished. Had he been hired for that new firm, William wouldn’t be with us. All those fifteen traders who the friend had taken were all killed in that attack, leaving nothing of their upstart firm.

“And now,” William then turned to R’ Zechariah and said, “you can understand why I bear no grudge. Ever since then, I consider every day as a gift from Hashem, something that I’m undeserving of, and that’s why I’m so thankful for my life. Also, all my children were only born thereafter. Had I been hired then, I would be long forgotten, with no one to continue my name.”

This is why he no longer complained about life-challenges — life is a gift!

William Abood was a partner in FXCM, a large trading firm on Wall Street, where people from around the globe would exchange their money. All their business brought in a great profit, and he used his wealth smartly: He was very generous when distributing tzedakah, and he was the go-to address for many organizations. For example, R’ Zechariah Wallerstein went to him to help cover the mounting budget for his high school, Ohr Naava.

One day, Abood’s whole enterprise went under. When the English currency dropped, his company continued trading it without coverage. In a short time, his multi-million-dollar company went bankrupt, to the point that it suddenly became illegal to exchange funds with them. In a short few minutes, he had nothing left but some pressing court cases.

Sometime later, R’ Wallerstein approached William and asked him how he was able to move on with this misfortune. He went from being a wealthy individual to having nothing; how was he continuing after such a downturn? (R’ Wallerstein was known for approaching people who faced life-challenges and probing them as to how they overcame them. When he then would speak with his students, who also faced serious challenges, he would be able to relay how others with similar challenges overcame them.)

“Let me tell you something,” came William’s reply. “In the 1990s, I worked at a small firm here in Manhattan, which had a total of thirty traders. There was one large table where all thirty of us sat. I grew very close to the employee on my right; we worked together for years, and we developed a very warm relationship.

“One day, he was offered to manage a trading firm from a company who wanted to become the biggest in the world. His friend received notice that the growing corporation was looking for a man suitable for the great task, and he was chosen. ‘You can hire a staff of whatever size you want,’ he was told. ‘Anything so that we can build up this project.’”

This friend had sought out many helpers to assist him, and William was excited about it. The new firm was even offering open checks to their new workers — something quite tempting. When the day came for his friend to take along his new team with him, William realized that he was not one of them. This “friend” hired fifteen of the thirty members of their firm, leaving out his close friend. William was no doubt frustrated at the unexpected shutout.

He held his grudge for a year and a half — until September 11. As soon as William heard about the plane hitting the 98th floor of the Twin Towers, his whole frustration vanished. Had he been hired for that new firm, William wouldn’t be with us. All those fifteen traders who the friend had taken were all killed in that attack, leaving nothing of their upstart firm.

“And now,” William then turned to R’ Zechariah and said, “you can understand why I bear no grudge. Ever since then, I consider every day as a gift from Hashem, something that I’m undeserving of, and that’s why I’m so thankful for my life. Also, all my children were only born thereafter. Had I been hired then, I would be long forgotten, with no one to continue my name.”

This is why he no longer complained about life-challenges — life is a gift!

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