Tracy Grant Herrick
Dec. 30, 1933-Nov. 29, 2016
Palo Alto, California
Submitted by Maie and Sylvi Herrick

“I have been unaccountably lucky. I mean luck in the big sense of the word.” Tracy Herrick was born in Cleveland, Ohio, and moved to Palo Alto with his family in 1970 when he joined the Stanford Research Institute as a Senior Economist. While a Vice President of Bank of America, he wrote Bank Analysts Handbook, which is still the authoritative reference on the subject: a description of the special characteristics of banks which can develop their strengths and endure. He retired from Jefferies and Co. Inc. as a member of the board of directors, following a quarter of a century with the firm. He was a leading spokesman for free markets. One of the founders of the Private Bank of the Peninsula (now Avid Bank), he served as a director and chairman of the board’s investment committee. Co-correspondent to surveys by the Wall Street Journal on the outlook for business and money market conditions, he was the most accurate contributor twice. He held advanced degrees in economics from Oxford University and Columbia University. These are highlights of Tracy’s professional and scholarly achievements, but they only scratch the surface of his immense accomplishments in the business of life. Integrity, hard work, honesty were values he practiced and taught. His drive and curiosity took him far and wide. He was a talented writer, able to simplify the most complex concepts. He possessed the rare ability to connect the past, present and the future and to provide meaningful insights into each. Tracy loved playing his Steinway often delighting guests with Beethoven’s Moonlight Sonata. He had a passion for classical music which led him to countless concerts around the world throughout his life. He was a lover of words, corny jokes, Spike Jones, beauty in the smallest of places, conversation, surprising details, ice cream, family meals, ’47 Packards and big hugs. He followed his dreams and encouraged all around him to do the same. He loved to dispense career counseling to any person willing to listen. His favorite saying was “it never hurts to ask.” The most painful event in Tracy’s life was the death of his son Alan in a car accident, at the age of 24. In his memoir “Tales to Tell” (2012), he wrote: “I cannot describe the feeling that the loss of a child brings to a parent. There is nothing like it. It is profound loss, way beyond anything else in life. And it is a feeling of helplessness where one is at sea with waves that never cease. The only way to survive is through the gift of closeness to one’s spouse, children, family, loved ones, and friends. They held me up, and they continue to hold me up. And I am so deeply grateful. I cannot ever give enough thanks to them.” Parkinson’s disease got in the way for the last fourteen years of his life, but Tracy persevered and never complained. He was an optimist, a realist, a dreamer, a planner, a gentleman in the true sense of the word. Longer than he should, he rode his beloved sleek Italian bicycle, and he never left the house without his Panama hat. Tracy spent his last day working on projects in his home office, overlooking shimmering leaves in the gentle autumn light, with classical music playing in the background. He was making plans to attend a special dinner with his friends at the Palo Alto Club, his favorite place away from home. He died on Nov. 29. The preceding happy Thanksgiving days were spent with Maie, his wife of 53 years, daughter Sylvi, son-in-law Matthias Herzog, granddaughters Noora and Siena and special friends. Family was the core of his cosmology. “I would not trade my life for anything. I would gladly live it over, even the tragic moments which have been painful beyond description. Each moment has been precious. I am grateful for all these years. Life is all we really have.”

In addition to Bank Analysts Handbook - 1978, books authored by Tracy are Timing (how to manage money at Different stages of life - 1981), Power and Wealth (how presidents cause stock market crashes and rallies - 1988), Tales to Tell (memoir - 2012) and recently, Smash-Up! Economics (personal forecast of the future of United States - 2016). While with Jefferies and Co. Inc. he issued for twenty five years The Money Analyst (monthly analysis of the impact of money on financial markets).

Tracy Herrick 1933 - 2016

Tags: teacher/educator, business