Freedom Is Not Free

On this Memorial Day, we wanted to send out a special edition of HX Daily with some particularly important thoughts.

First – we want to pay our respects to those who made the ultimate sacrifice to protect the freedoms we experience daily.

None of my family died in the course of service, but my father’s family comes from a long line of military service.

My grandfather Henry (for whom I am named – "Enrique" or "Henry" in Spanish) served in the Army during World War I. My grandfather Epimeno was also in the army; we are told he participated in D-Day.

Finally, my father enlisted in the Air Force at 16 in Black Hills, South Dakota. He wanted the Navy, but they turned him away because he was underage.

Below are photos of my grandfather's Army tombstone in South Dakota, my father when he joined the Air Force, his burial plot at a military cemetery in Fallon, NV, and my son and I when we laid him to rest.

One of the few regrets that I have in my life so far is that I did not follow the family tradition. There were many variables in my decision as a young man, but service to our country is an important responsibility, and I have shared it with my children.

 One of my partners in my first hedge fund (Stadia Capital) was a West Point graduate, and we hired several other veterans. In my career, I have actively pursued opportunities to mentor those who have served in building their Wall Street careers.

Many of them – like myself – came from upbringings far away from the finance world and didn't have the networks and experience of many of our colleagues. It was an honor to help them grow their careers and just a tiny thing I felt I could do.

On Memorial Day, however, when I think about the sacrifices that were made to support our way of life, my thoughts are also brought back to my mother's family.

This is a different story and background.

She grew up in Uruguay, a South American country. It is a small country between Argentina and Brazil that is about the size of the state of Washington. It has a population of about 3.5 million, or the same as Connecticut, where I live now.

Her father was the CEO of the state-owned public utility but was also politically active. He was one of forty or so co-founders of what is now the largest political party in Uruguay – Frente Amplio.

The late 1960s and early 1970s were politically turbulent times across much of the world, and Uruguay was no exception. There were leftist revolutionary movements that bubbled up and were put down brutally by military dictatorships.

My family became embroiled in this situation. My uncle was jailed as a “terrorist” at the age of 16 and entered prison with 160 other young men at the time. When he left seven years later, only 9 of them were alive.

My grandparents stayed in the country (instead of fleeing to Europe or the USA like many others who were being persecuted) and had to deal with constant harassment. By "harassment," I mean multiple episodes of "los milicos" driving by their house and spraying it with machine gun fire.

Indeed, my mother met and married my father and would have been imprisoned if she had returned to the country, not because of anything she had done but because of her familial relationships.

My grandparents persisted, though, and eventually had my uncle freed in 1977 and exiled to Sweden. They joined him in Europe for a few years before eventually returning to Uruguay in the mid-1980s and living there until their passing about a decade ago.

I am sharing this story on our American Memorial Day to express that what those who died for us is something that I think many (most) of us take for granted.

There is much pessimism in America today about many issues – politics, the economy, race relations, etc. Many Americans feel that America is in the worst position that it has ever been.

We are here to share our perspective that it absolutely is NOT!

The freedoms and opportunities that we as Americans enjoy every day are at a level that billions of people all over the world could never even imagine. Some people are dying to come here. THAT should be some perspective on how great America really is…

Knowing my own experience of what my family went through in Uruguay gives me a greater appreciation for what we take for granted daily. My family has seen the other side, which is the reality for much of the world.

The sacrifices of those who have fallen to defend this country have not been in vain.

Finally, when I think about their sacrifices, I also consider what I can do to honor them. How can I honor and help support this incredible country we have built here in America?

First, I work hard to share the lessons of the past with my children. I teach them that we are all responsible for making this country work and continue to succeed. Service is an honor and a responsibility and must be undertaken by all of us in any way we can.

Second, my view is that beyond service, the most important thing we can all do to continue the success and freedom of America is to have a sense of OPTIMISM!

We know this is difficult in today's world, with social media amplifying the natural tendency of human beings toward negative feelings. We derive more chemical stimulation from the "bad" versus the "good.” In my view, however, we must focus on building, moving forward, and working TOGETHER.

Finally, consider ways that you can be of service and help those who have served our country. Take action.

Over the weekend, I contacted several of my friends who had served. One of them has gone through a difficult couple of years. Regardless of his service, I would reach out to him as a friend, but around this time of year (and Veterans Day), I make a special effort to reach out and see how I can improve their lives.

These are all deeply personal decisions for each of us, but my view is that we live in the greatest country in the history of humanity, and we are getting better, not worse.

This will only continue to be true if we each try to be OPTIMISTIC and TAKE ACTION.

The sacrifices of those who gave their lives for our great country have not been in vain, and our collective responsibility is to honor and preserve them.

G-d bless America.