A billionaire whose exact net worth is completely unknown, Bill Lipschutz is one of the most successful and famous Forex traders ever. He was born in New York and quickly knew that he had a great passion for mathematics, even from a young age. Even if he first obtained a Fine Arts Degree, he also has an MBA in Finance. His investment career received a boost when he inherited $12,000 worth of stocks from his grandmother. His $12,000 inherited stocks quickly became $250,000 but this achievement was short-lived. He lost everything but thanks to his determination and passion for trading, he ended up as a billionaire. Here is the full story of Bill Lipschutz and how it can inspire every trader to work better and become more successful.
About Bill Lipschutz
After losing all his money, Bill Lipschutz joined the Solomon Brothers and was working for their Foreign Exchange department. Not long after, he was bringing in $300 million each year. In 1988, the company made him the director of two very important subsidiaries. That was the moment when he became one of the most important Forex traders in the whole world.
In 1990, Lipschutz was ready to stop trading and he took a break from everything that lasted five years. Even if, at first, this was seen as a bizarre step to take, he knew that he needed to stop for a while and rest his mind and body. Usually, traders never stop what they’re doing for fear of losing their income. However, Bill Lipschutz was always different.
In 1995, Bill and some former classmates created Hathersage Capital Management, a firm that specializes in G10 currencies. Bill has always been the brains of this whole operation as the Principal and Director of the Portfolio Management department since the very beginning.
“Trade insane or remain the same” is his famous motto that all traders can learn a thing or two from. According to some stories, Bill had a monitor set up by his bed at all times so he could watch all the markets. So, clearly, in order to be this successful, you need to make some sacrifices and work very hard.
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