Early Career
Lipschutz’ career as a forex trader may have started by accident. While at Cornell University, Lipschutz inherited $12,000 worth of stock after his grandmother’s death. In his inheritance, there were over 100 different stocks in numerous locations. It cost Lipschutz a substantial sum in fees in order to liquidate and consolidate the risk capital into one location.
While attending school, he began investing the risk capital in his free time. He would spend hours in the library, researching and reading everything possible regarding the market. This research increased his interest in financial trading, and his portfolio was eventually worth close to $250,000. The great success was, however, short-lived, as the risk capital was virtually blown with one bad decision and a turn on the market. Lipschutz considered the loss a valuable learning experience to apply to any future investments. Through his college career, Lipschutz became more interested in the stock trading and continued to pursue it with success, while leaving his architectural degree behind.
During the time spent at Cornell, he met his wife, Lynnelle Jones, who was working for economist Henry Kaufman as a research assistant. Lipschutz interned for Kaufman and Salomon Brothers before graduating in 1982. He joined Salomon Brothers as a full-time employee in May 1982.
Read more about this topic: Bill Lipschutz
Famous quotes containing the words early and/or career:
“I looked at my daughters, and my boyhood picture, and appreciated the gift of parenthood, at that moment, more than any other gift I have ever been given. For what person, except one’s own children, would want so deeply and sincerely to have shared your childhood? Who else would think your insignificant and petty life so precious in the living, so rich in its expressiveness, that it would be worth partaking of what you were, to understand what you are?”
—Gerald Early (20th century)
“The problem, thus, is not whether or not women are to combine marriage and motherhood with work or career but how they are to do so—concomitantly in a two-role continuous pattern or sequentially in a pattern involving job or career discontinuities.”
—Jessie Bernard (20th century)