Sunday, March 27, 2011

ANOTHER TRADING GUIDE

This is one that your model need to examine very closely and make comparisons to Livermore for a comparitive analysis. And maybe your won't be lining a cloak room floor with your brains.

Bernard Baruch was born in Camden, South Carolina to Simon and Belle Baruch. He was the second of four sons. His father Simon Baruch (1840–1921) was a German immigrant of Jewish ethnicity who came with his family to the United States in 1855. He studied medicine, became a doctor, and served as a surgeon on the staff of Confederate general Robert E. Lee during the American Civil War. He was a pioneer in physical therapy.[1] His mother's Sephardic Jewish ancestors (likely from Amsterdam or London) came to New York as early as the 1690s, where they became part of the shipping business.

In 1881 the family moved from Camden to New York City, where Bernard and his brothers attended local schools. He then studied at and graduated from the City College of New York.

Baruch became a broker and then a partner in A.A. Housman & Company. With his earnings and commissions, he bought a seat on the New York Stock Exchange for $18,000 ($434,000 in today's dollars). There he amassed a fortune before the age of 30 via speculation in the sugar market. By 1903 Baruch had his own brokerage firm and gained the reputation of "The Lone Wolf on Wall Street" because of his refusal to join any financial house. By 1910, he had become one of Wall Street's best-known financiers.

In 1925 he endowed the Mrs. Simon Baruch University Award in memory of his mother, to support scholars who have written unpublished monographs for full-length books on Confederate history. His mother had been an early member of the United Daughters of the Confederacy (UDC) and supported their activities.

In 1916, Baruch left Wall Street to advise president Woodrow Wilson on national defense. He served on the Advisory Commission to the Council of National Defense and, in 1918, became the chairman of the new War Industries Board. With his leadership, this body successfully managed the US's economic mobilization during World War I. In 1919, Wilson asked Baruch to serve as a staff member at the Paris Peace Conference. Baruch did not approve of the reparations France and Britain demanded of Germany, and supported Wilson's view that there needed to be new forms of cooperation between nations, and supporting the creation of the League of Nations.[2]

In the 1920s and 30s, Baruch expressed his concern that the United States needed to be prepared for the possibility of another world war. He wanted a more powerful version of the War Industries Board, which he saw as the only way to ensure maximum coordination between civilian business and military needs.[3] Baruch remained a prominent government adviser during this time, and supported Franklin D. Roosevelt's domestic and foreign policy initiatives after his election.

During President Roosevelt's "New Deal" program, Baruch was a member of the "Brain Trust" and helped form the National Recovery Administration (NRA).

I posted these speculators for you to discover and read about. There are similarites and there are notable differences. What led to continued succes for one and a long life with acccess to the highest levels of government. While Jesse Livermore wound up on a cloak room floor..

4 comments:

  1. The seven largest Wall Street firms in the first decade of the 21st century were Bear Stearns, JPMorgan Chase, Citigroup Incorporated, Goldman Sachs, Morgan Stanley, Merrill Lynch and Lehman Brothers

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  2. Kli,
    Sorry to hear about your partner. You must be shocked.
    Hopefully things will work out for both the family & you.

    ReplyDelete
  3. Kli,

    Sorry to hear of the terrible news.

    ReplyDelete
  4. Kli, do you think the outcome of the Germany elections this weekend will have any affect on the market?

    ReplyDelete