2010

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Bernard Baruch

Обучение торговле акциями на NYSE, Nasdaq, Amex

Mennis Bernard Baruch — American financier, stock speculator, as well as political leader and statesman.

Bernard Baruch was born August 19, 1870 in the city Kempden in South Carolina and was the second of four sons, Simon and Bell Baruch. His father, Simon Baruch (1840-1921), a German immigrant of Jewish descent who immigrated to the U.S. from Germany 1855. As a doctor by profession, during the Civil War he served in the Confederate Army and was one of the founders of physiotherapy. In 1881 his family moved to New York, where Bernard entered the City College (City College of New York). After graduating from college, Bernard Baruch joined the company Hausmen and Company (AA Housman and Company). Moving up the career ladder, he became a broker and then a partner A. A. Housman and Co., And after seven years has owned the eighth part of the brokerage. The source of his income to serve as part of the commission it receives from each transaction the client.

By pooling their resources with those who managed to borrow from relatives, Bernard Baruch in 1898 bought a place on the New York Stock Exchange. Alas, the first attempt has failed. Bernardo again — and then again — had to ask for help from relatives. One father told him that $ 500 — that’s all that the family left for a rainy day. But it is with these five hundred Bernard Baruch began his ascent to Olympus Wall Street. Since the beginning of his behavior on the stock exchange seemed to many countries. Its market entry and early success have been received very disapproving. For example, JP Morgan called him only as «a card sharper.» At first glance, these allegations in the era of free market seem strange — after all, he, Morgan made his fortune not in white gloves. But the methods of Bernard Baruch surprised even the great frauds. At first he did not hold popular at the time of absorption of weak companies with a view to their subsequent resale. There he spent and the machinations of the artificial rise of prices of individual stocks. Far were his methods and scrupulous account of the fundamental factors. Although the stock market at that time and was on the rise, Bernard Baruch is actively used tricks to decrease. In his own opinion, at a minimum to buy and sell at the maximum possible. And so he often went against the market, selling when many bought, and vice versa. Without going into the details of the company and not paying attention to rumors spread about her, Baruch worked on the general market movements. And in this respect its operation can be compared with the style of Livermore.

With the growth of Bernard Baruch rose and its potentialities. He was able to afford to exercise direct investment. For example, in its capital was founded Texasgulf Inc., Dedicated service services while growing oil industry. However, to participate in the management of the company he was not interested. And further funding for its creation it has not gone. Although Texasgulf Inc. eventually turned into a fairly profitable company, at the Baruch was only a small fraction of this wealth, because after many issues of shares, its share was strongly reduced. With Bernard Baruch came to be considered, and rarely large transactions took place without consultation with him. He was called the owner of a family fortune, his speculations on the stock exchange feared no less than action by JP Morgan and Joseph Kennedy. So Baruch, is not seeking to trade solely on insider information, received many opportunities of profitable investment.

By 1903 he had his own brokerage firm Baruch Brothers, and his 33 years he became a millionaire. Despite a thriving practice at the time of the establishment of various trusts in order to manipulate the market, Bernard Baruch spent all their operations alone. For that and was nicknamed «lone wolf Wall Street». Even becoming a millionaire, Baruch did not forget, as he several times lost all his money in the stock market. So in 1907 he spent $ 55 thousand for the purchase of 15 thousand acres of land in their home country — in South Carolina. According to his calculations, in the event of another fall in prices on the stock exchange this land would not have left him without a livelihood. In the same year he bought a fairly stable firms engaged in trade mainly between Britain and the United States, — M. Hentz & Co.

The active penetration of Bernard Baruch in the political life began in 1912. His money, he supported Woodrow Wilson in his presidential campaign. Democracy Fund Baruch made $ 50 thousand In gratitude, Wilson in 1916 appointed him to the Office of National Defense. Immediately after the Bernard Baruch took his first public office, to exchange rumors that he uses his position to the insider trading. In 1917, he even carried out against the investigation, accused of disclosing classified documents. Checking his deal, stumbled upon an investigation made by him a few months before the operation. According to estimates, the purchase and resale of the shares in a month of plants within the scope of his interests in public office, Bernard Baruch earned about $ 1 million, but failed to topple him. His defense Baruch built on the grounds that all his wealth he has created on the resale market, and in this sense, the last operation were no different from previous ones. And already in 1918, Bernard Baruch became Minister of Defense Industry of the United States. The investigation led to the fact that he sold his seat on the exchange, but involvement in the distribution of military contracts gave him more opportunities to make money. And the investment it is not entirely departed. Only now they were more targeted. Baruch became the favorites of the company for the production of weapons and various military munitions. According to some reports, by the end of World War II Bernard Baruch owned shares in most plants, with military orders. Naturally, and sizable amounts deposited in the factories from the state budget remained in his pocket. It is said that by the end of the war he was able to increase to $ 200 million

After the war, Bernard Baruch not slowed his political ambitions. Successful investing their money in the career politicians, it could seriously affect the solution of various issues of the U.S. economy. After Woodrow Wilson, he remained constant companion of presidents Warren Harding, Herbert Hoover, Franklin Roosevelt and Harry Truman. In fact, his place in politics gave him a lot more information than other traders. Thus, to the Great Depression in 1929 Baruch was fully prepared. In 1928 he sold all his shares and some money to buy bonds. And on Oct. 24, 1929, in the famous «Black Tuesday» American Stock Exchange, Baruch appeared in her room, along with Winston Churchill. And they watched the second biggest collapse in U.S. stock market. They say that with Churchill on the exchange Bernard Baruch appeared only to show him his power over the market.

Although Bernard Baruch and not get rich on the Great Depression, apparently, he could do it. And after the Great Depression, Baruch continued to use their privileged position. One can only guess how much money he made on the abolition of the gold standard. This standard existed before April 1933, until it was canceled by President Franklin Roosevelt. In order to bring the country out of depression, the Government announced the purchase of gold from the population. For refusing to take the gold could be punished by a fine or lengthy imprisonment. In exchange for gold issued non-redeemable paper money. And on October 22, 1933, as soon as most of the gold was deposited, Roosevelt announced the devaluation of the dollar, that is, from this moment the government was to buy gold at higher prices. Now, one dollar could buy only 1 / 35 ounce, while before the abolition of the gold standard — 1 / 20 oz. Being close to the president man, Bernard Baruch, of course, seize the chance to earn a gold. But not only on him. According to some reports, by mid-1933 Baruch owned a third of the options for the then known world reserves of silver. After a few months until the hype around the devaluation of gold has not yet subsided, Roosevelt said about raising the price of redemption of silver twice. The official pretext was to help the miners, working in silver mines. But in reality, a subsidy was Bernard Baruch.

During the Second World War, the role of Baruch as an authority in the war economy has become more noticeable. It is believed that he put his hand to plan for the reconversion of the American economy, and in general economic policy of the country, according to many, strongly depended on Baruch. Later, he solved many problems associated with the proliferation of nuclear technology, and actively to influence American policy toward the USSR. But at the same time, its activity in the stock market is clearly waning. Bernard Baruch entirely devoted himself to politics, while remaining «gray cardinal» the administration of the White House until his death in 1965.

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