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Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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December 1, 2003

Last Orders for the Wall Street Pros

By John A. Byrne

A famous Wall Street watering hole recently served its last pint. But the family tradition that brought popular acclaim to Harry's of Hanover Square - an old-world enclave in New York's financial district - is not likely to disappear from this locale.

Harry Poulakakos, 65, the Greek native who founded and ran this trader friendly place, believes these family traditions will be perpetuated by the next generation. The traditions will survive, but probably in a more refined fashion than Harry's, which hosted the occasionally rowdy crowd of traders and investment bankers. The reason is Bayard's, a French style restaurant in the upper floors of the same building as Harry's (which is actually located on Hanover Square). Bayard's is owned and managed by Poulakakos's son Peter, 27.

The elder Poulakakos waxes philosophical, recalling his decision to close Harry's. His wife Adrienne opened the business with him in the early 70s. In August, she died of cancer. Poulakakos hadn't the heart to continue, once he lost his inseparable business partner. But he's upbeat about Bayard's and two other outfits near Harry's -Ulysses and Fiancier - partly owned by Peter. The elder Poulakakos might even make a cameo appearance at these hot spots.