- Born in 1877
- Became professional trader before people knew you could do such a thing
- By age 30, he was worth $100 million (inflation-adjusted)
- 1929: he was one of the most well-known investors in the world
The Great Depression - which cemented his legacy
- More than a third of the stock market’s value was wiped out in an October 1929 week - Black Monday, Black Tuesday and Black Thursday
- He, in a stroke of luck and genius, had shorted the market - bet that the stocks would decline
- In one day (October 29, 1929): he made the equivalent of more than $3 billion
The decline
- After the 1929 blowout, he made larger and larger bets
- His debt increased and eventually he lost everything
Sources