Trader Bill Lipshitz. The architect who conquered the forex exchange
Every person at least once in his life has a great chance to get out of the hole. Unexpected career growth, business offers, or an inheritance from relatives that has fallen from heaven—a person can convert all these chances into his future well-being.
However, unfortunately, not everyone can consider these possibilities, and if we talk about inheritance, the majority views it as easy money that everyone part with very easily.
The success story of Bill Lipshitz is unique in that a very young man who was completely removed from the stock exchange was able to not only preserve the inheritance he received, but also make it a springboard for his further career growth.
Actually, in this article you will learn the success story of one of the brightest managers who was able to conquer the currency exchange.
The future genius of the Forex market was born in New York in 1956. Since childhood, Bill had a love for the exact sciences, and especially mathematics, so many teachers predicted a very successful future for him.
Studies. Getting to know the exchange
After graduating from school, Bill saw himself as an architect, designing new cultural structures for his city.
To realize his plan, he successfully enters Cornell University at the Faculty of Architecture. However, a series of circumstances influenced Bill's future so much that, as a student, he completely forgot about architecture and completely switched to the stock exchange.
My acquaintance with the stock exchange happened completely by chance and, unfortunately, on bitter soil. After his death, his beloved grandmother left a will, which was measured not in property or money in the account, but in shares.
During his lifetime, his grandmother invested in more than 100 different companies, but the emphasis was not on volume, but on number of companies.
Thus, having received a block of shares, Bill Lipshitz could not sell the assets for a very long time, and when he eventually succeeded, the proceeds amounted to more than 12 thousand dollars.
It was while selling stocks that Bill learned the ins and outs of stock trading and really became interested in investing. After reading dozens of books about the stock market, Bill continued investing in stocks, and soon his 12 thousand dollars turned into 250 thousand.
Professional career as a trader
While at university, Bill met his future wife, who worked for successful economist Henry Kaufman.
Having introduced them together, Kaufman was impressed by Bill's trading performance, so he offered him an internship training in trading bank securities (mainly debt obligations), which he successfully completed.
After completing the internship, Bill received an offer from Solomon Brothers Bank, which, naturally, the novice trader immediately took advantage of.
It is worth noting that a career at Solomon Brothers developed by leaps and bounds, and when the bank decided to open a department for trading in the foreign exchange market, Bill became the main candidate to head it.
The bank's management made the right decision, and just two years after his appointment, Bill Lipshitz brought the bank a profit of more than $300 million.
Having demonstrated excellent profitability, Bill received more and more offers from various companies, and in 1990 he decided to leave Solomon Brothers in order to head one of the funds of the Merill Lynch Corporation, since he was offered the position of president and was offered a simply huge salary.
However, Lipshitz lasted only a year in his new job and founded his own company, Rowayton Capital Managemant, which operated successfully until 1995.
In 1995, together with his university classmate, Bill created the company Hathersage Capital Management, which is engaged in speculative trading in the Forex market.
On average, the company's annual profitability is at the level of 70 percent per annum, which practically no hedge fund dealing with stocks and securities can provide.
At this stage, the company manages more than one billion dollars, and in 2017 the hedge fund was recognized as the best currency fund according to Hedgeweek.