All in the family
Schwartz grew up close to Amherst in New Haven, Conn., and says that his family lessons not only taught him the value of a good education but also the "lesson of affirmative action." His mother's father emigrated from Russia in 1903 when he was 16 and attended Cooper Union University soon after. Schwartz's mother graduated with honors from Syracuse University and later attained a master's degree from Yale University. With such compelling role models, it is no surprise that Schwartz went on to attend Amherst after getting straight As in high school. Schwartz did not have the same financial resources as some of his peers, so he saw education as "the only ticket out."
These lessons have also extended to his two children: a son who is currently at the University of Pennsylvania and a daughter attending New York University. He notes that he didn't pressure either to attend Amherst. "[I] didn't feel I had to relive my life through them," said Schwartz. "Kids have a good instinct and being a good parent means letting them make their own decisions."
Memories from Amherst
Amherst during Schwartz's freshman year in 1963 was a "dramatically different experience" from our current life at the College. Not only was the school all-male, but the curriculum included various core requirements. Summer reading was assigned, but it was definitely not light beach reading: "The authors included Voltaire, Goethe and Joyce ... and they were brutal," said Schwartz. Also required for Schwartz were three 500-word English compositions per week, an 11:00 a.m. Saturday morning calculus class and two physics classes, including labs. This rigorous curriculum was highlighted by the Dean of Students during an orientation speech. "Look to your right and your left," he said. "Half of these people will be in the bottom half of the class, the others in the top. Get used to it." After obtaining such stellar grades in high school, it was hard to adjust to a curriculum that was among the hardest in the country, and Schwartz joked that he had to spend a "year and a half catching up to the preppies." He also had class so often (in addition to mandatory chapel three times a week) that he "didn't even have a date until second semester … although one or two I imported."
However, some experiences that were challenging at that time have proven to be especially rewarding later in his life. A required public speaking course had Schwartz's "knees knocking together" when he was 18, but since then he has gained a "certain confidence, and secureness in my skin" that comes with age.
Even fraternity rush period was a painful time for Schwartz, but nearly 25 years later he became president of his class. Schwartz points out that we can learn and benefit from all of our experiences, even if they seem trying at the time. Perseverance-"never giving up-" is one of his most important values.
Although Schwartz makes note of the superior and rigorous academic standards of Amherst (which have not changed since his day), he still managed to set aside enough time to play four years of soccer, a freshman year of basketball and become sports editor of The Amherst Student. He also was a member of the Theta Delta Chi fraternity and has fond memories of playing softball on the lawn in front of the fraternity house in the springtime.
One of Schwartz's most vivid memories of Amherst is the day during his freshman year that President John F. Kennedy came to campus to dedicate the Frost Library. He remembers helicopters landing on the soccer field and Kennedy later giving a speech in the gym that he missed, ironically enough, because he had to play in a soccer game. Though he was unable to attend the speech, this event was especially memorable for Schwartz because just four weeks after speaking at Amherst, Kennedy was assassinated.
The Wall Street killer instinct
After graduating with honors as an economics major, Schwartz joined the U.S. Marine Corps. He was captain of a Russian interrogation unit before leaving active duty in 1968.
Schwartz attended Columbia University business school, which he notes was a hard transition, but at that point it was a matter of "getting my passport stamped." He was itching to get out and get to work. Soon, he was working on Wall Street and spent nine years as a security analyst. Working on Wall Street helped Schwartz achieve a childhood goal. "[I wanted to] get fairly wealthy in order to control my own destiny. From financial freedom comes some personal freedom," he said.
Schwartz later wrote a book about his experiences titled Pit Bull: Lessons from Wall Street's Champion Day Trader, which was published in 1999. The book description notes that Schwartz earned the nickname "Pit Bull" because of his "nerves of steel and killer instinct," and his uncanny skill in trading, which earned him millions of dollars through trading of stocks, bonds and options. The book grew out of Schwartz's desire to have a written record of his life. He laughs at the fact that after "having the living daylights kicked out of me at Amherst, being published and the respect that comes with it has been a good ride."
Tragedy strikes
Even after achieving so much in New York, Schwartz still had hard times ahead. At 45, he was diagnosed with pericarditis, a disease that nearly killed him and subsequently forced him to "slow the game down" and move to Florida, where he still trades, but is "learning to enjoy life." He comments that the move was especially hard given the importance of his profession to the rest of his life. "My identity became so wrapped up in my career," he said. "When you become successful, the habit is hard to let go, and you have to find other things to fulfill you." After having done it all, and especially what he wanted to be doing, he believes it's now finally time to reach a balance between work and play. Having been fortunate enough to be so successful in life, Schwartz is now more than ready to "sit back and enjoy the fruits of his labor."
Racing at the track
For Schwartz, buying and racing horses helped the transition from the fast-paced cutthroat business world to his current lifestyle. "Horse racing is the most beautiful sport there is," Schwartz said. He became involved in the sport because he believes he is "a typical Amherst person" a multi-tasker who needs to have more than one project going to be intellectually stimulated. He is driven by an incessant desire to conquer new fields, which comes from the luxury of having a liberal arts education that afforded him numerous opportunities to explore. For example, Schwartz was inspired by several art courses he took at Amherst and now collects various pieces of American art. He remarks that at Amherst "the little seeds are planted and grow … and these have an impact on your life." Schwartz likes to say that "Amherst trained my mind and the Marines trained my body. Amherst takes talented people and trains their minds year in and year out with a consistency of excellence." Being a generous donor to Amherst over the years has been Schwartz's way of "giving back to the school to repay the profound effect it's had on my life."
Enduring friendships
Another timeless aspect of Amherst for Schwartz has been the valuable friendships he developed as a student and still maintains years later. "There was a camaraderie that was built, and extraordinary friendships. That is the joy of it now," Schwartz remarked fondly. He attends reunions regularly and sometimes organizes "mini-reunions" which consist of a group of his closest friends from Amherst and their families at various relaxing or entertaining locales. Schwartz also makes efforts to visit Amherst whenever he is in the area. Although he lives just south of Palm Beach now, New England still retains its special charm and Amherst its own warm memories and lessons that are just as important to him even years later.