Bernard Baruch was born in 1870 in Camden, South Carolina. After graduating from City College of New York with a degree in classics, he became a banker's apprentice. He then became a broker, and started trading for himself. By 1897 he had made enough money to buy a seat on the New York Stock Exchange, and set up his own brokerage. In 1916, he became involved in politics, advising President Woodrow Wilson and later Franklin D Roosevelt. He died in 1965, aged 94.
What was his strategy?
He was particularly interested in mining companies, and would make highly leveraged short-term bets based on his own fundamental, often contrarian, analysis, while using stop-losses to limit his downside. Indeed, he later described the ability to cut one's losses as the most important element of successful trading.
Did it pay off?
What was his best investment?
What other advice did he have for investors?
My Own Story
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
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