The most successful financiers of the world: a review of their success
The financial market requires high professionalism from its players. However, even with certain knowledge, not everyone succeeds and becomes rich and famous. Influential financiers of the world have their own secret of doing business, acquaintance with which is useful for beginners.
The first celebrity is George Soros. Even before the 80’s he was known only in the narrow circles of Wall Street, but in just a few years, this name has become known in many areas. The real name of the businessman is György Schwartz. He comes from a Russian family whose members were forced to leave their homeland during the October Revolution. George graduated from the School of Economics and started working as a broker, gaining the necessary experience and business contacts. In 1961 he set up an investment fund, on the basis of which a large investment group emerged. By 1994, the company had earned $2 million by investing in high-risk assets.
Soros has always been able to feel the market, and he believes that a mathematical model is not as important here as the psychological component and understanding of what people want. An investor needs to monitor in advance when this or that asset will interest the majority.
William Delbert Gann is a textbook personality on Wall Street. His business methods are still popular with traders. He was born in 1878 in Texas to a large family of financiers. Gann didn’t graduate from elementary or high school, and was educated when he joined a brokerage firm and attended business school in the evenings. After moving to New York at the age of 25, Delbert started working as a trader on commodity and stock exchanges, and later started his own firm. The main tool for the financier was technical analysis, through which he earned $50 million in capital. Gann traded on the basis of time, not price, as it is popular today. This approach made it possible to calculate the exact period when the value of the asset will rise or it is time to get rid of it.
Many people think Warren Edward Buffett is a miserable man, but this trait has allowed him to make a huge fortune and become world famous. He had been entrepreneurial since he was a young man, reselling his friends’ soda more expensive than he bought it. Buffet was denied training at Harvard Business School, citing his young age, but his mentor took a promising student to his firm. There, Warren was analyzing the company, focusing on management, not accounting. After this experience Buffet returned to his home country in Omaha and set up an investment group. The secret to this financier’s success is to invest only in projects he likes.