Investing by the Books #69 David Marcus on How to Make a Few Billion Dollars
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Apr 1, 2025 David Marcus, a seasoned US investor with a rich background working alongside legends like Michael Price, shares his insights into the financial world. He discusses the strategic maneuvers behind billion-dollar companies and the importance of serial acquisitions. Marcus emphasizes the need for a balanced corporate culture in high-performance settings and the significance of creativity in problem-solving. His own journey from trading desk assistant to a confident investor highlights pivotal lessons learned through personal and market challenges.
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Early Investing Influence
- David Marcus's early interest in investing stemmed from his family's stock brokerage firm.
- Visiting the NYSE at 14 solidified his passion, leading him to read extensively about finance and companies.
Crisis Creates Opportunity
- Marcus's first Wall Street job was with Michael Price during the 1987 stock market crash.
- This experience taught him that crises create opportunities if one avoids panicking.
Finding Value in Distressed Assets
- Michael Price, trained by Max Heine, developed a skill for analyzing defaulted bonds with valuable assets.
- This approach taught Marcus the importance of in-depth analysis and recognizing hidden value.
