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.
Study. Introduction to the Stock Exchange
After graduating from school, Bill saw himself as an architect designing new cultural buildings for his city.
To realize his plans, he successfully enrolled in Cornell University's architecture program. However, a series of circumstances so profoundly impacted Bill's future that, as a student, he abandoned architecture altogether and focused entirely on the stock market.
His introduction to the stock market was entirely by chance and, unfortunately, a bitter one. His beloved grandmother, upon her death, left a will that specified shares of stock, not property or cash in an account.
During her life, his grandmother invested in more than 100 different companies, but the emphasis was not on volume, but on the number of companies.
Thus, having received a block of shares, Bill Lipschitz was unable to sell the assets for a very long time, and when he finally succeeded, the proceeds amounted to more than 12 thousand dollars.
It was while selling shares that Bill learned the ins and outs of the stock market and truly became interested in investing. After reading dozens of books about the stock market, Bill continued investing in stocks, and soon his $12,000 had grown to $250,000.
Professional career as a trader
While at university, Bill met his future wife, who worked for the successful economist Henry Kaufman.
After introducing them, Kaufman was impressed by Bill's trading performance and offered him an internship/training course in trading bank securities (mainly debt securities), which he successfully completed.
After completing his internship, Bill received an offer from Solomon Brothers Bank, which, naturally, the budding trader immediately took advantage of.
It's worth noting that his career at Solomon Brothers developed by leaps and bounds, and when the bank decided to open a foreign exchange trading department, Bill became the prime candidate to head it.
The bank's management was right, and just two years after his appointment, Bill Lipshitz brought the bank a profit of more than $300 million.
Having demonstrated excellent returns, 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 enormous salary.
However, Lipschitz only lasted a year at his new job and founded his own company, Rowayton Capital Management, which operated successfully until 1995.
In 1995, Bill and his university classmate founded Hathersage Capital Management, a company engaged in speculative trading on the forex market.
On average, the company's annual return is at the level of 70 percent per annum, which is something almost no hedge fund dealing with stocks and securities can provide.
The company currently manages over one billion dollars, and in 2017 the hedge fund was recognized as the best currency fund by Hedgeweek.
