Wes Edens – The King of Subprime Lending

Wesley Robert Edens started working in the finance sector right after college. He first took a position with California Savings and Loan and then followed with jobs at Merrily Lynch and Smith and Barney. In 1987 he joined Lehman Brothers and served as managing director until 1993 when he moved to Blackrock Financial Management. In his long financial career he has completed a variety of projects including the establishment of the Fortress Investment Group in 1998 and acquiring the Milwaukee Bucks in 2014. In 2017 he launced an esports team called Flyquest. Every year we seem to hear new things about Wesley, so lets take a bit of a closer look at his accomplishments. Wes Edens lives with his wife Linda and four children, and when he’s not making a fortune, he can be found scaling mountains. He has a keen interest in mountain climbing which started at a very young age.

In recent years he has conquered the Grand Teton in Wyoming and the Matterhorn in Switzerland. He goes a little easier on the mountaineering these days as he slipped into a fall when he was on Pingora Peak in Wyoming. In 2009, he won an award as Distinguished Business Professional, given to him by the university he graduated from, Oregon State University. The award is for those business people who demonstrate they use innovation and excellence in their business industry. Edens is also a notable philanthropist and takes an active role with social causes. He has donated millions to charitable foundations and educational institutions throughout the USA. Today Wes Edens is the proud co-owner of the Milwaukee Bucks. It was a deal that worked out to about $550 million in 2014. He is a lifelong basketball fan, and as such has guaranteed that the team will continue to play in Milwaukee and has even pledged another $100 million to go towards the construction of a new arena.

Wes Edens is currently one of America’s billionaires, a status he acquired in 2007, after a company called Fortress Investment Group (he co-founded) went public. In 2007 Fortress expanded into hedge funds, real estate investments and debt securities which increased his already large holdings. By the time the company went public on the NYSE, it was the largest private equity firm in the USA. His interests have continued to grow and in 2010, Wes Edens acquired a large percentage of Springleaf Financial Services a subprime lender. The deal was about $125 million and within a few years the company grew to $3.5 billion. Eden has been successful in a number of financial buyouts and finance company growths. It has led him to be called the “king” of subprime lending.

Aftermath at DE Shaw

On March 15, 2018, DE Shaw fired managing director Daniel Michalow after a sexist comment. After being accused of being inappropriate with a female employee, he responded that he’s a dick, not a perv. This situation caused a look into David Shaw’s home for poet quants. Their hedge fund is so secretive to outsiders they ended up guilty of covering up the hedge fund misbehavior.

More than a year later DESCO has settled and DE Shaw is aggressively addressing the situation. The company has new non-compete terms that all employees must sign by September 16th. Any employee that refused to sign will be terminated. The ones terminated will keep compensation that would normally be lost. With more than $50 billion being managed, they are one of the largest hedge funds that use computer algorithms for trades. DE Shaw insists that the non-compete terms is standard practice in the industry.

The new terms go into effect on September 16, 2019, which is the same day that Daniel Michalow’s 18-month no interference is over. Starting then, he can hire DE Shaw employees to start a new hedge fund. DE Shaw says it was a coincidence, but it’s strange, they would even allow people to think otherwise by having the dates overlap.

Daniel Michalow is sexist and couldn’t be kept there. If that’s true, why is DE Shaw making sure their talent can’t join with him? The company is very serious about its employees signing the new terms. DE Shaw is a top hedge fund that still pays, so it’s doubtful that most people would take a check and leave. DE Shaw says that DESCO HQ is complying with the new changes. This could piss off a few people who will take the check and leave.

An odd moment during a meeting with leadership was when they demanded a loyalty pledge. Some wondered why it was necessary. The worst-case scenario for DE Shaw is if many employees gets pissed and join up with Daniel Michalow. He could just be a dick. DESCO HQ said the investors would only panic if a former female employee joined him.

Paul Herdsman Brings His Unique Expertise To The Topic Of Entrepreneurial Success

NICE Global’s co-founder Paul Herdsman has recently provided today’s entrepreneurial class with some sound tips that they can utilize for achieving the success that they dream about in their business endeavors.

NICE Global provides full-service business solutions including customer care, low-risk business ideas, tips on succeeding in business and increasing revenue in business.

Paul is an individual who personally understands the kinds of motivations that drive entrepreneurs as these are the motivations that have driven him during his life as an entrepreneur. Having found success in his work, Paul Herdsman is an individual that knows what it takes to succeed and he knows how to counsel today’s entrepreneurs in a way that will help them to avoid mistakes that can lead to failure.

At the top of the list for Paul Herdsman is the idea that a positive attitude is a necessary thing to adopt when one is looking for success as an entrepreneur. Paul Herdsman emphasizes the need to adopt an attitude of positivity in all that one does. The benefits of this adoption of positivity are many and include increased energy and resilience as well as a better frame of mind in which to solve problems that come up. These are just a few of the benefits of positivity and the fact is that positivity rubs off on others as well.

Team building is one of those critical areas that Paul Herdsman stresses as well. He wants today’s entrepreneurs to remember that they cannot do everything themselves. There is often a tendency to try and do this as a motivated entrepreneur, but building a good team is critical. It is important to look for people that have shared character traits with the kinds of goals that one has as an entrepreneur. Click Here to learn more.

Paul Herdsman emphasizes the fact that it is possible to teach people things, but not so possible to change an individual’s character. Due to this, it is important to choose individuals who already have strong character traits.

 

Additional reference: https://thebrotalk.com/brotips/12-success-tips-entrepreneurs-nice-global-co-founder-paul-herdsman/

 

Raffaele Riva

Over the course of time, we have observed several investors making their mark within the industry based on their extensive career and knowledge. Raffaele Riva is one such name who has been able to well establish him in the world’s top financial hubs; London and New York. As a British national, Raffaele has various degrees to his credit including an MBA from the prestigious Saïd Business School at the University of Oxford. Riva credits his education greatly for all that he has achieved so far. In the last decade, Raffaele’s work was extensive and indeed a testament to his experience; he worked in various capacities including funding startups, financing novice incubations and of course carrying out various successful investment.

An insight into Raffaele’s life dictated to us that one of the major keys to success is to start your day early and get done with work as it comes your way. He also emphasizes greatly on the need for physical exercise. Raffaele is well aware of the need to take time out for one’s self and maintain a work-life balance for both physical and mental health. Daily meditation is one of Riva’s essentials. He also believes that he is a meticulous planner that has helped him stay on schedule and prevent procrastinating and lying off of work. He credits his team for assisting him in sticking to his schedule and avoiding delays. Raffaele is not in the business for money, instead, he enjoys helping businesses is garnering resources and helping their dreams turn into reality. With his nature of work, there are bound to be obstacles but finding that sweet spot is essential.

Despite all this success, there are certain things that Raffaele would have told his younger self; he says he has been in this fast track lifestyle for 15 years so taking things slow wouldn’t be much big of a deal.

7 Tips for Entrepreneurs From Successful Paul Herdsman

 

Paul Herdsman is a successful entrepreneur. He is a co-founder of NICE Global, a global full-service business solutions provider company. NICE Global is part of an all-star team dedicated to ensuring that its clients are monetizing their online traffic and getting the highest return on their marketing spend.

Paul Herdsman is a multifaceted businessman and has a very successful portfolio encompassing a multitude of business skills. Mr. Herdsman has a very diverse array of skills, but they are all needed to build and run a successful company.

Herdsman is proficient in the areas of customer acquisition and retention, business development, growing a company, operational execution, sales, and marketing. His career has been focused around customer satisfaction.

Paul has honed his skills in areas such as customer acquisition, customer retention, business development and growth, marketing and sales growth, and operational execution. He attributes much of his success to word of mouth as he knows that satisfied customers are the best marketing tool any business can attain.

Paul Herdsman has some great tips for those who want to start their own company.

 

  1. Be Willing to Fail

You will not be able to succeed unless you are willing to fail. Amass pertinent information and evaluate the risk carefully before proceeding. Then take a leap of faith.

 

  1. Enjoy the Work You Are Pursuing

What are you passionate about? What gets you excited? Operating your own business takes much time and energy, so make sure you love what you do.

 

  1. Assemble a Good Team

Assemble a group of individuals that will propel your business to success. In addition to skills, pay attention to the character and values of your team members. The skill ensemble of your team should be diverse and complimentary to yours. Read This Article for related information.

 

  1. Learn From Mistakes and Move Forward

Successful entrepreneurs are not only willing to fail, but learn from their mistakes, adapt, and try again. Think about keeping a list of mistakes you make and consider what you learn from each one.

 

  1. Persevere

Have the persistence and resilience to not give up in difficult times. Success takes mental stamina. Don’t let yourself be discouraged if things take longer than you anticipated.

 

  1. Use Time Wisely

You only have so many hours in a day. Focus on what is important to move your business forward. You will not be able to pursue every idea presented to you or say yes to every request. Direct your time and energy towards the best ideas that support your business model.

 

  1. Get Yourself a Mentor

Find someone who is successfully doing what you want to do. Look for someone that you can trust, will listen to you, and are willing to answer your questions. An outside opinion and perspective can be invaluable to your success.

 

Source article: https://thebrotalk.com/brotips/12-success-tips-entrepreneurs-nice-global-co-founder-paul-herdsman/

Paul Herdsman How To Become Successful As An Entrepreneur

 

Paul Herdsman is the co-establisher of a famous business solution organization situated in Jamaica famous as NICE Global. The company focuses on helping organizations improve their client retention and incur fewer costs. Most importantly, NICE Global provides solutions concerning revenue increment in different enterprises.

 

Under Paul Herdsman’s management, the company’s customers are happy and grow individually in their personal and professional lives. As an experienced entrepreneur, Paul offers relevant tips for entrepreneurs to follow to achieve success. His guidelines are invaluable and worth pursuing growth and achievement.

 

Paul Herdsman recommends the acquisition of positive attitude in your entire operations. Positive attitude generates positive mentality and positive thinking. Research has over time indicated a relationship between positive thinkers and problem-solving and resiliency. Paul Herdsman states that positive thinking is among the best ways to accelerate your positivity garnering success.

 

Besides, Herdsman postulates that a realistic vision should govern a good entrepreneur. Once you formulate a clear path to take for your venture, you are eligible for achievements upon working diligently. The most relevant success tip for Paul Herdsman is the establishment of an appropriate company. Often, it is challenging to work alone. As such, you require the right team to spike your motivation.

 

Besides, Paul Herdsman clarifies on the inevitability of mistakes. However, he postulates that it is wise to learn from your downfall. According to him, more than 50% of ventures collapse within four years. Successful businesses are the ones that embrace defeat regardless of the number of times they fall. The business owners understand that eventually, they will thrive from their mistakes.

 

Besides offering these insightful guidelines, Paul Herdsman focused on the relevance of having a mentor. He postulated that a good mentor is an invaluable personality for your achievement. Entrepreneurs should trace individuals they can trust with their ideas for advice.

 

Like him on Facebook.

 

View source: http://www.fivehundo.com/paul-herdsman/