Monday, January 7, 2019

Ten Years Ago This Week We Marvelled At John Henry's Recession-Proof Life

Every so often—particularly during the doldrums of the off-season—we like to look back at what FenwayNation was obsessed with in the past. Ten years ago this week (January 6, 2009), our lead story reacted to the news that John Henry's hedge funds were doing extremely well—despite the nation's economy being in a recessionary tailspin. You may recall that there was a stock market meltdown in September of 2008 that led to massive bailouts and other macroeconomic tinkering that (to some degree) lasts until today. Anyway, the Red Sox owner was actually prospering while the rest of us were scrambling to cope with the worst financial crisis since The Great Depression. Doesn't it always seem to work out that way? It just further reinforces our view that we will never shed any tears for the baseball-related financial outlays of Mr. Henry. Don't worry, he can afford it.