TRENTON, NJ--(Marketwire - Feb 21, 2012) - Peter Grandich, the stockbroker dubbed "The Wall Street Whiz Kid" 25 years ago by Good Morning America's Steve Crowley, shares the mental health battle that almost killed him in new book, "Confessions of a Wall Street Whiz Kid," (www.confessionsofawallstreetwhizkid.com).
His story of hope and recovery includes his realization that Americans' market-driven fixation on amassing a fortune is driving us crazy.
"The fight to keep up with the Joneses is leading to more people with intolerable levels of anxiety and stress," says Grandich, who runs Trinity Financial Sports & Entertainment Management Co., a firm that specializes in offering professional athletes, celebrities and the general public estate planning from a Christian perspective.
"Our whole culture now is built on the premise that we have to have more money and more stuff to feel happy and secure," he says. "We've bought into the myth fabricated by Wall Street and Madison Avenue, which rely on millions of people driven to make more money."
Grandich was one of those people, he says. He loved making money, making more, and spending it. By his mid-30s, he was a multi-millionaire suffering his first disabling panic attacks. Looking back, he says, part of the problem was a life out of balance.
"My priorities were, No. 1, me, my reputation and my ego, and then my wife and our daughter," he says.
Everything rode on the market, and when it wavered, Grandich grew increasingly anxious and, eventually, chronically depressed. Twice, he came to the point of attempting suicide.
In 1995, Grandich left the professional money management and brokerage buisness, but it took him several more years to find his way back to enjoying his life. A critical part of his journey was beginning a faith journey that put God above all else. He wants to warn others caught up in the money chase, and to offer hope to the one in 10 Americans who suffer depression.
About Peter Grandich
Peter Grandich became renowned in the financial industry when he predicted market crashes and rebounds in The Grandich Letter, a newsletter he created in 1984. It's currently a blog featuring his commentary on the world's economies and financial markets as well as social and political topics. Grandich is co-founder, with former New York Giants player Lee Rouson, of Trinity Financial Sports & Entertainment Management Co..
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