Bill Lipschutz - One of the best Forex traders of all time

Who Is Bill Lipschutz?
Before we dive into the seven lessons, I first want to share a little of Bill Lipschutz’s story. Think of this as a synopsis of his early trading career.

Lipschutz started trading equities while pursuing his Bachelor’s degree from Cornell University.

He inherited $12,000 worth of stock upon his grandmother’s death. The amount was spread across more than 100 different stocks, so he liquidated the investments to find a more suitable approach.

It’s at this moment that Lipschutz caught the trading bug. He began researching and reading about the market at Cornell’s library and started investing the risk capital in his free time.

Not long after, he turned that $12,000 sum, which was far less by the time it was liquidated, into a sizeable $250,000.

However, one bad decision nearly cost him the entire account. He was back to square one.

But instead of throwing in the towel, he considered the loss a valuable learning experience. And just before the end of his time at Cornell, Lipschutz had once again built the account up to the point that he decided to leave his architectural degree behind.

Then in 1984, he joined Salomon Brothers as part of the newly formed Foreign Exchange Department. One year later he was making $300 million per year for the firm.

Lipschutz left in 1990 to pursue other ventures including the North Tower Group and Rowayton Capital Management. He then formed Hathersage Capital Management in 1995 with classmates from Cornell.

Epic retail traders.

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