At the wise old age of 18, the bags were packed for a long journey with most of my worldly possessions in tow. Coming into New York for the first time with no parents – no siblings, was a very big day indeed. When the train stopped at Penn Station, I could hardly wait to get off. It was a feeling of heart-pounding excitement with every step. With dreams, goals, and opportunities everywhere, the only thing missing was the free lollipops and candy canes. The next thing I knew, this nice gentleman with a blue coat, gold cufflinks, and even a pressed handkerchief in his top right pocket approached me. "Let me help you with all that luggage, young man. If you ?re hungry, the best 24-7 diner in this part of town is right over there."

Famished, I glanced over toward the restaurant. Now turned around - in a full 360, I looked down and all my bags were gone with that man into a mob of humanity. Robbed right out of a scene from Trading Places, welcome to the big city.

On Friday, nearly every human being on earth with capital to invest had their eyes on the Fed. It was a "look here", "NOT over there" kind of day. Steve Jobs always said – "it's the scar tissue from mistakes that keeps us focused on all the pieces across the chess board – NOT just one or two."

Surprise, the biggest news by far out of Jackson hole was coming out of the ECB NOT the Fed - who would have guessed? As the day moved on Friday, it was clear Don McLean 's "American Pie" was longer than Jay Powell's torpedo of a speech – BUT more and more clients we respect in the live chat on the Bloomberg terminal - kept pointing to Europe as the driver of U.S. equity volatility.