Showing posts with label banker. Show all posts
Showing posts with label banker. Show all posts

Wednesday, February 14, 2018

The Richest Family in the World

The Richest Family in the World 
Who was the wealthiest person in every century? That was a question we tried to answer in a previous TIFO article. While it was an incredibly difficult question to get definitive answers to, it did reveal that the wealthiest private entity in the 19th century was actually not a person – but a family. The Rothschild family, descendants of Mayer A. Rothschild, is still around today and is believed to be worth over a trillion dollars combined, thought to be the largest private fortunate in the history of the world. Who are the Rothschilds exactly and how did they amass this tremendous fortune?


Friday, April 29, 2016

Jacob Fugger the Rich worlds richest man

Was the first documented millionaire weighting $75 Million in sixteenth century dollar and by the time of his death in 1525 had a fortune equaling "just under 2 percent of European economic output". Todays GDP (Gross Domestic Product) of the European Union is USD $18.5 Trillion. Which mean that his net worth would be the equivalent of nearly $370 Billion in 2014.

He was richer than Warren Buffet, Bill Gates, Rockefeller, and Croesus.

Jakob Fugger of the Lily (6 March 1459 – 30 December 1525), also known as Jakob Fugger the Rich or sometimes Jakob II, was a major merchant, mining entrepreneur and banker of Europe. He was a descendant of the Fugger merchant family located in the Free Imperial City of Augsburg, where he was also born and later also elevated through marriage to Grand Burgher of Augsburg. Within a few decades he expanded the family firm to a business operating in all of Europe. 

Divide your fortune into four equal parts: stocks, real estate, bonds and gold coins. Be prepared to lose on one of them most of the time. During inflation, you will lose on bonds and win on gold and real estate; during deflation, you lose on real estate and win on bonds, while your stocks will see you through both periods, though in a mixed fashion. Whenever performance differences cause a major imbalance, rebalance your fortunes back to the four equal parts. – Jacob Fugger the Rich, 1459-1525

Financial assets (stocks and bonds)
Real assets (gold and real estate)

Invest like the Fuggers

Friday, June 5, 2015

JEMMY WOOD, first commoner to become millionaire

James Wood 1756-1836

Figure of James Wood
Jemmy was the first commoner to become millionaire, but was famous for being a miser. He is mentioned in Charles Dickens' book "Our Mutual Friend", and may have inspired Dickens to create "Scrooge".
An Eccentric Banker, Draper, Undertaker and Miser?
He made his fortune by running the 'Gloucester Old Bank' in Westgate Street. There were many stories about his meanness including that he dressed in shabby clothes, and even turned down the Mayor's job because of the expense. He was disliked so much that a newspaper reported that crowds jeered and threw stones at his coffin during his funeral in St Mary de Crypt Church. However, he may have been less mean than is generally thought. According to his diaries he had a busy social life, and enjoyed good food.

Saturday, May 30, 2015

Jordan Belfort vs Gordon Gekko


“Of all the drugs under God’s blue heaven, there is one that is my absolute favourite,” he says as the camera trains on DiCaprio cutting an enormous line with his credit card. “Enough of this shit will make you invincible — able to conquer the world and eviscerate your enemies,” he explains, staring at the drug. Unfolding the hundred-dollar bill he’s just used to snort powder up his nose, he clarifies that he’s talking about the money.


Gordon Gekko

  • “The point is, ladies and gentlemen, that greed, for lack of a better word, is good.”
  • “What’s worth doing is worth doing for money.”
  • “It’s all about bucks, kid. The rest is conversation.”
  • “Lunch is for wimps.”
  • “We make the rules, pal. The news, war, peace, famine, upheaval, the price per paperclip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it.”
  • “If you need a friend, get a dog”

Jordan Belfort

  • “Money doesn’t just buy you a better life, better food, better cars, better pussy — it also makes you a better person.”
  • “The year I turned 26 I made $49 million, which really pissed me off because it was three shy of a million a week.”
  • “I am not gonna die sober!”
  • “I’ve been a poor man, and I’ve been a rich man. And I choose rich every fucking time.”
  • “My Ferrari was white like Don Johnson’s in Miami Vice, not red.”


Monday, November 3, 2014

Andy Beal in Rounders 2

Billionaire banker Andy Beal in Rounders 2?

Speaking of Matt Damon.  He was excellent in Team America!  Seriously, if they were to make a rounders 2, I think the climactic scene would be Matt building up enough bankroll to sit in the big game with the likes of Doyle, Greenstein, Negreanu, Ivey, etc.  If he were to have a heads up battle for the finale, it would have to be against someone who can look the bad guy.  I mean Negreanu would be intimidating, but he's too likable.  Maybe, Ivey since he's quiet and stone cold.  Ohhh even better (just got so many ideas flying here). 

How about Andy Beal or an Andy beal type to play heads up.   They would have to change some facts though but I can hear Mike McDermont in the background saying something like this.  "Sure, I'm a winning Poker player.  I've won some big tournies and done well at the cash games, but there's one game and one man that I haven't beaten.  His name is Andy Beal, a billionare banker from Texas.  He came to vegas ten years ago to try to beat the pros.  His idea was to set the limits so high that he could intimidate the pros and win.  Unfortunately for Andy the pros or the corporation were not intimidated and took millions from him.  Andy, though stating several times he was done with poker, was relentless.  He read books, studied the game, set up a staff to run numbers, calculate odds, and help his play.  Andy is very analytical and dedicated. He built his fortune from nothing.  He was determined to be the best and after years of refining his skills at High Limit Texas Hold em' he became just that.  He came to Vegas a couple of years ago and cleaned the pros out. It's rumored that he took 50 million from the corporation. Some say a hundred million.  A few pros were completely broke after this.  People say Beal completely dominated anyone they sat in front of him.  His style was untouchable and his skill was overwhelming.  Andy will only play $150k/$300k Limit Holdem.  Needless to say, no pro will play him.  Well, no pro until now.  I'm lucky enough to have backers that believe in me.  I'm about to play in the richest poker game that's ever been played.  Where millions of dollars swing back and forth from one hand to the next.  Six days, sixty hours.  By Friday, I will have lost everything, completely broke or...  I will be the richest pro to ever play the game.  This man is said to be unbeatable, even by the best to ever play the game.  Am I committing financial suicide, or am I what I truly feel I am... the best" or something like that...heh

Very interesting story posted 26 February 2006 by Fanatikk on the fullcontactpoker forum.  With a scenario like that, Rounders 2 would be even better than the original Rounders.

Originally published in:

Andy Beal

Andy Beal
Billionaire banker from Texas &
high stakes heads-up limit hold'em poker player
Net Worth: Increase US$8.5 billion (March 2013)
    • Born November 11, 1952 Lansing, Michigan, U.S
    • Lives in Dallas, Texas.
    • Father of six
    • Divorced two times (spouse1, Simona Beal)
    • A self-made billionaire
    • Banker
    • Founder and chairman of Beal Bank and the now-dissolved Beal Aerospace Technologies
    • Graduate, Sexton High School, Lansing MI but dropped out after becoming bored with the classes.
    • Attended Michigan State University and Baylor University
    • At age 19 he bought a house for $6,500 and rented it for $119 a month which led to his first gain as a businessman.
    • Played blackjack as a youth.
    • 1981- He started buying property that no one else wanted and made it profitable.
    • 1988 – Opened first bank in Dallas (later renamed Beal Financial)
    • 1993 – Discovery of conjecture (mathematical number theory). Has offered $100,000 for its proof or disproof.
    • 2000 – Bought over 1 billion commercial loans and collected on the debts.
    • After September 11, 2001 – Began buying airline bonds. He makes about $70 million a year from those bonds.
    • 2001 – Began visiting Bellagio to participate in high stakes poker games. Andy Beal was 48 years old in 2001
    • BETWEEN 2001 AND 2006 – Began playing The Corporation
    • His long series of ultra high-stakes heads-up battles were featured in the Michael Craig book The Professor, the Banker and the Suicide King

    High Stakes Heads-Up Limit Hold' Em

    Greatest Feat:
    During visits to Las Vegas between 2001 and 2004, Beal participated in high-stakes poker games against professional players. The games included USD$100,000 to $200,000 limit Texas Hold 'Em poker. On May 13, 2004, at the Las Vegas Bellagio, Beal won one of the largest single hands in poker history, $11.7 million.  The games have been chronicled in the Michael Craig book, “The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time.”

    While the games outlined in Craig's book ended in 2004, Beal returned to Las Vegas from February 1–5, 2006 to again take on "The Corporation" in a $50,000/100,000 Limit Hold 'Em match at the Wynn Las Vegas Casino. Opponents included Todd Brunson, Jennifer Harman, Ted Forrest, and others.

    Phil Ivey vs Andy Beal

    On February 5, 2006, Beal was down $3.3 million (USD). He then returned to the Wynn Casino a week later, and won approximately $13.6 million from the Corporation during daily poker sessions from February 12–15. The games resumed February 21–23, with world champion poker player Phil Ivey representing the Corporation against Beal at limits of $30,000/60,000 and $50,000/100,000. During these three days, Beal lost $16.6 million to Ivey.

    Andy Beal High Stakes Heads-Up Limit Hold' Em strategy:

    Step 1. Play nearly every hands
                Raise (most of the time) every pot he enters
    Step 2. Check-call all the way down to the river with any A-high hand
                8-bets the turn with two pair
    Step 3. Obsession with preventing tells

    Why is Andy Beal so good?
    a) Obsession
    b) Specialization
    c) Mathematical approach
    d) High stakes
    e) Ultra-aggressive
    f) Impossible to read

    Carl Icahn once said of Beal, "I always thought of myself as a good player. But I'm not in his league."

    Sunday, August 31, 2014

    Scumdog Billionaire

    Scumdog Billionaires on Wall Street
    Scumdog millionaires? Try billionaires! Those billionaire bums on Wall street deserve nothing but our disdain. The Madoffs of the world, the Wall street bankers and brokers, all those rotten to the core people, we say screw 'em! And this t-shirt says it all! An image of the Wall Street sign with a skyscraper behind it (from which some of them ought to jump), and the words SCUMDOG BILLIONAIRES!

    Slumdog Millionaires? Try Scumdog Billionaires

    Bernie Madoff, the Stanford Financial Group, Lehman Brothers, AIG, who knows what it all means? All we can figure is that there was massive fraud in a lot of places on Wall Street, and it cost Main Street dearly. Here is the t-shirt of the moment, titled SCUMDOG BILLIONAIRES:

    Stock broker and money manager and hedge-fund operator and insurance rep can all sell their soul to become Scumdog Billionaire.

    The movie Assault on Wall Street which presents the problems that arise with rich bankers and Wall Street brokers, business advisers...etc. It's all about “screwing the little man” so that “the cream rises to the top.” lol.. I love it!!