Bill Lipschutz started trading while attending Cornell University in the late 1970s. During that time, he turned $12,000 into $250,000; however, he lost the entire stake after one poor trading decision, a hard lesson on risk management that he carried throughout his career. In 1982, he began working for Solomon Brothers while he pursued his MBA degree.
Lipschutz migrated into Solomon’s newly-formed foreign exchange division at the same time forex markets were exploding in popularity. He was an immediate success, earning $300 million per year for the company by 1985. He became the principal trader for the firm’s massive forex account in 1984, holding that position until his departure in 1990. He has held the position of director of portfolio management at Hathersage Capital Management since 1995.
Source: Investopedia
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