The individual discussed in the podcast has a strategy of buying distressed assets and waiting for opportunities.
He takes advantage of sectors where there are distressed sellers or fear.
During the housing boom, he goes to play poker in Las Vegas and rents out office space as his bank shrinks.
He predicts the financial crisis and buys distressed assets while others are failing.
He follows the value investor formula of seeking cheap assets and using leverage wisely.
"Who is America’s best-known banker? That would be Jamie Dimon. But who is the richest? That would be Andy Beal, with an estimated net worth of $9 billion." Friend-of-the-show Frederik Gieschen joins us for an impromptu conversation about his article on the life and work of Andy Beal, the richest banker in America. Important Links: