
My Life in 4 Trades - You Can’t Control Events, but You Can Profit From Them
Real Vision: Finance & Investing
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Investing in Mongolia Growth Group
In the summer of 2010, I went to Mongolia. It was booming. We had a list of mega projects as they called them. They were building this world's second largest copper mine. And we raised $51 million to invest in commercial real estate in Alambatar. But unfortunately, it was pointless because a year after we started the company, they had an election and banned foreign investment. The currency has lost 70, 80% of its value. One day I think Mongolia will be a successful country. I just don't know if that's in my lifetime. When you get a trade wrong, all you could do is put your head down and cut as many costs as you can"
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