Posted By optiondragon
Bernard Baruch- Considered one of the greatest traders of all time, was one of the greatest of the Greatest Generation. Was on the Nazi hit list and was instrumental in turning America into an economic powerhouse in order to defeat the Nazis in WWII. Instrumental in winning both World Wars. Here sits the man who was the mastermind in winning the war against the Axis and therefore changed the course of the history of mankind. Here he sits on his park bench in DC near his office, he was known to discuss world matters and everyday life with passerbys and hold his meetings here. This bench is now a national momument. Baruch was one of the top advisors to two presidents and during both World Wars.
One of his best stories:
Baruch’s faith helped him make his fortune. During his Wall Street days, Baruch sold short, to the limit of his resources, a stock he believed to be overvalued. He expected a quick profit on the next business day, believing the directors would not declare the regular dividend since the company could not afford it. He knew, however, that if the directors bluffed and declared a dividend, the stock could rise, and he would have to cover instantly or lose everything. The day before the dividend declaration day, his mother reminded him that the next day was the Jewish high holiday Yom Kippur, and he had promised to maintain the solemnity of the annual occasion and “keep” the holiday holy. Keeping his promise, Baruch ignored the multiple phone calls and telegrams from his friends who urged him to take his profit and cover. After Yom Kippur had passed, he read the telegrams and learned that, indeed, the dividend had passed. Rather than rising on the news, however, the stock had fallen precipitiously. In the hours he had chatted with his mother, keeping his promise, he had become a millionaire.
You can read more about him on wikipedia and about his trading skills in, “Lessons from the Greatest Stock Traders of All Time” By John Boik.
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