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
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrencyAccording to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
-
Investing for children this Christmas – five ideasIt might not come with a shiny ribbon, but an investment fund could be the gift that keeps on giving. We share five ideas if you are investing for children this Christmas.
