Tommy

"As manager of the Tisches’ family and foundation money, Tommy frequently experienced his father’s strong tendency to be supportive, especially when the chips were down. “If a position is down, he en- courages you to trust your instincts and double the position,” he said, “and when things start running away on the upside, he’s less inclined to value that.” When Tommy’s bet on Boston bank stocks proved to be too early, “This is a major disaster,” he said. Larry’s response: “I came into the world poor. If I go out poor, what’s the difference?” Tommy was quick to remind his father that the same couldn’t be said for his sons."

"“With my father, there is a sense of constantly accepting the world as it is, realizing there are certain things you can or can’t have an im- pact on,” Tommy said. “In adversity, he is among the most supportive people. He’ll never sell you out when you’re down, and whether it is in market terms or personal terms, when somebody has adversity, he is there.”"