Joseph J. McAlinden

Joseph J. McAlinden passed away peacefully with loved ones by his side on September 26, 2024. He was 81 years old. Born in Kearney, New Jersey. Joe was raised in a traditional Irish Catholic home by hard-working immigrant parents from Ireland and Scotland. He attended Holy Cross Elementary School, Queen of Peace High School, and Rutgers University, where he majored in Economics and graduated Cum Laude after seven years of study at night, coursework that greatly benefited his burgeoning Wall Street career. Joe fought hard for many years with the Multiple Myeloma sustained from Ground Zero that eventually took him from us.

Joe, known in his early life as Flash and later by many as Joe Mac, spent his life working on Wall Street, beginning in 1964 as a page on the New York Stock Exchange. Borrowing five dollars from a friend to get his only suit cleaned for his interview, the rest of his career is history and nothing short of an American Dream success story. Soon afterward, Joe moved to W.E. Burnet & Company, was taken under the wing of an experienced manager and was promoted to analyst a few months later. He caught the bug of excitement inherent to Wall Street as he was invited along on many business trips, traveling and learning all he could from his mentors. In 1969, Joe became a partner at Argus Research Corporation as a Special Situations Analyst. He was later promoted to Director of Research, and by 1980, he was President and CEO of the firm. This new position brought an invitation to join the YPO, aka the Young Presidents Organization. In 1986, he was recruited by the investment bank, Dillon Read, where he managed the research department and became Managing Director in 1987. These roles led to his appointment as CIO and Chairman of the Investment Review Committee in 1991. What followed next was Joe’s rise to stardom. In 1995, Joe left Dillon Read for Dean Witter Intercapital. During this period, Joe was frequently interviewed by the press, including The Wall Street Journal, The NY Times, and Investor’s Business Daily, and made appearances on CNN’s Moneyline, CNBC’s This Morning’s Business, and Bloomberg’s Taking Stock with Pimm Fox. Joe was a huge fan of the USA, motivated and inspired by its policies, promise, and rewards. He fought for the little guy and believed strongly in the power of upward mobility and hard work. Joe would often bring his clever turn of phrase into his writing about the markets. His “Power of the Punchbowl”, “From Doo Wop to Hip Hop”, and “10,000 and Beyond” among some publication titles that he penned while accurately forecasting market predictions through his expert intuition and research.

In the summer/early fall of 2001, Morgan Stanley and Dean Witter were in the process of merging. Thus, Joe found himself at the World Trade Center on September 11, 2001. He was at a business breakfast at Windows on the World in Tower 2 when his colleague saw the first plane fly past the window with a rumble. Joe and many Morgan Stanley employees survived that terrible day, while so many others lost their lives. After descending 68 flights of stairs, he was caught in the dust storm of fallen towers and could not get out of lower Manhattan until several hours after the tragedy, escaping the lockdown by ferry to Queens with a friend and coworker until they could find a way home. Joe was eventually met by his son, Joe Jr. and his daughter Kelly at the 59th Street bridge, and the three returned home to Kathleen and their young children together safely.

Tragedy often brings the joys of life into stark relief, and Joe knew he had much to be grateful for. Between his growing family, career success, and happy home life, including involvement at his children’s schools, Joe attended the first of many Father & Son campouts when Sean was a Beginner at The Buckley School. He was invited to become involved at his daughter Aine’s school, Convent of the Sacred Heart, as a member of the board of directors. Joe spent much time working with other parent board members building the school’s mission and endowment. He enjoyed music and played bass and lead guitar in a Rock n’ Roll band at local venues in the 1950s. He taught his kids to play guitar and harmonica. More recently, his musical taste grew to include classical music and he often attended the Metropolitan Opera with his wife Olena. He was an avid reader, always researching and referencing world history, his favorite hobby. He loved teaching and sharing stories with his children, and he was very proud of them, cherishing their accomplishments.

In the final chapter of his career Joe founded Catalpa Capital and the Global Thematic Opportunities fund, implementing the wisdom and insights gleaned from his multiple decades of experience on Wall Street. The thematic investing style incorporated aspects of behavioral finance to extract alpha from market inefficiencies. Even though the fund was very successful, it was entangled in the Lehman Brothers collapse and forced to close. Never one to give up a fight, and given the impact of the Global Financial Crisis on the industry landscape, Joe pivoted and created a research publication under the eponymously branded McAlinden Research Partners, or MRP. The successful publication was a continuation of his thematic style of investing and the culmination of his vast experience. While some considered the process heretical to the traditional research approach, numerous clients and subscribers found the insights refreshing and extremely valuable to their business.

He was a generous soul, enjoying time spent with his family at vacation homes in Nantucket, jogging, sailing, and enjoying the quiet and pristine beaches; in the Northern Catskills, skiing and sitting at the fire; in the Florida Keys, boating and fishing; and visiting the “old country” in Scotland and Ireland, learning all he could about his ancestral roots.

Joe married very young to Rosemarie, with whom he raised three children while simultaneously working days and studying long into the night. He later married his second wife Kathleen, with whom he raised two children while still working hard at his long career. He enjoyed family life and found happiness again, with Olena, whom he married and lived with for the remainder of his life. He is survived by Rosemarie and their children Kelly and Joseph, Jr, his grandchildren Jared, Chase, and Hugh; Kathleen, and their children Sean and Aine; and Olena, her son Igor, and grandchildren, Alexander and Chloe. He is predeceased by his dear daughter Laura, and his sister, Barbara Lindsay.

A Memorial will be held in Joseph’s honor on Sunday, October 27, 2024 at Campbell’s Funeral Home in New York City, 1076 Madison Avenue. There will be an initial gathering from 1:00-2:30pm, followed by formal services between 2:30-4:00pm and a final gathering period from 4:00-5:00pm. There will be time for comments; if you are inspired to speak, please contact Joanna Boccio, Funeral Director at Campbell’s Funeral Home, in advance if possible.

In lieu of flowers, donations may be made to: the Multiple Myeloma Research Foundation (themmrf.org), the Ireland Fund, (irelandfunds.org) or the Russian Children’s Welfare Society (rcwf.org). Joe will be remembered for many things, but his determination to live and his love of family and his children are among those we will cherish the most.