Barry Rosenstein: Why He Spends Money As He Likes

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“By now, most private investors know that there are some grandmasters in the world of finance. It would be considered poor form not to emulate these… industry superstars.” – Jens Rabe

We want to take a closer look at a hedge-fund titan – Barry Rosenstein. He’s the man who owns a record $147M mansion. He’s a self-made billionaire who made his fortune from the markets. He obtained Bachelor of Arts/Science degree at Lehigh University in 1981, and got his MBA at University of Pennsylvania Wharton School in 1984.

He worked as an investment banker at Merrill Lynch and then was hired by Asher Edelman. He’s been investing huge amounts for money for decades. Before he founded Jana Partners hedge fund in the year 2001, he worked at several other firms. Since he founded Jana Partners, he’s been making around 23% profits per annum. Jana Partners now manages $7.5 billion dollars. He’s become highly paid. For instance, he was recently paid $250 million in one year, and he’s now worth at least $1.3 billion

A lover of yoga, Barry lives in New York, USA. His wife is Lizanne Rosenstein and he has children.

These are some of the lessons that can be learned from Barry:

1. Barry’s beginning was humble. He was once put on a salary while he was still in his early 20’s. He didn’t take him long, however, to become very rich. He made his vast fortune from the markets. You may eventually be as rich as him or richer than him or not as rich as him. One thing is sure: you can become very rich as a result of your activities in the markets.

2. His vast fortune stemmed from making decent profits per annum, not from doubling his accounts now and then. For example, he made 16% on Jana portfolio in the year 2006, plus another 17% in the firm’s small cap. He’s considered a genius not because he makes hundreds of percentage per annum.

3. Barry is one of the richest men in America and has made professional and personal purchases, some of which have made him unpopular. He once bought a duplex apartment at 15 Central Park West at $29 million and spent another millions to refurbish it according to his standards. He made another purchase as one source puts it, and I quote, “Money can buy you more than just stuff: It all took only eight months to complete. All this pales, of course, next to Rosenstein’s purchase early this month of a Hamptons home for $147 million — the most ever paid for a private residence in the United States. The 18-acre beachfront property has an elaborate garden that was the dream of its former owner, the late Christopher H. Browne, complete with foot paths and bridges over a pond.” Since he doesn’t like the spotlight he gets for his extravagant spending and as a result of that, he plans to spend another $60 million on another apartment in Manhattan.

Several years ago, one billionaire gave cash gifts totaling $3 million to his 10 favorite actresses and actors. That means each actress/actor got a cash gift of $300,000. The billionaire was criticized by the public for wasting money on a very small minority, while there were many causes and people that needed financial assistance. The fact is that, everyone is free to spend their money as they like. The money belongs to him and he chooses how to spend it; just as you’ve the right to spend your money as you like.

Many people want to be financially free but they can’t do what it takes to attain financial freedom. They want to prosper, but they don’t have the patience, perseverance and tenacity that can help them achieve their goals. Are these not the people that give online trading a bad image? Now, someone refused to be discouraged, working his way to financial freedom in spite of the challenges that people want to avoid, and they’re now telling him how to spend his money. Whether or not you spend your money as people want, you can’t take your riches to the grave. Let Barry continue to enjoy his money while those who criticize him ponder how to start their own journey towards financial freedom. At least, it doesn’t pay to keep your fingers crossed while criticizing successful people. That can’t put food on your table. One of the ways to financial freedom is online trading. Please start your own journey and when you become very rich, you can spend your money as you like.

4. One of Barry’s areas of interests is called shareholder activism, which has now become very well known. This is a system in which wealthy funds managers demand radical rehabilitation in the companies they’re interested in; they’ll invest heavily in a publicly-traded company and then demand for financial and managerial changes.

Conclusion: The markets offer riches that can’t be accessed unless you become a trader or an investor. Despite your trading experience, you’re to stand your ground in determination, no matter the challenges and uncertainty in the markets. Refuse to give up or give in to the pressure to quit. Imagine if setting a goal for yourself, you plan to make a certain percentage within a month or a quarter, but you ended up reaching that goal only after six months or one year; don’t feel bad. Instead, say, “I’ll meet the goal sooner next time.” You don’t need to be discouraged simply because you fail to meet a goal for a period of the time.

This article is ended by a quote from Barry:

“I prefer to work behind the scenes and not have a public battle.”


Learn from the Generals of the Markets: Market Generals

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