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Director of Portfolio Management
Direct Phone: (212) ***-****
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Hathersage manages assets for pension funds, private banks, endowments, fund of funds, family offices and other institutional investors in addition to select high net worth individuals. ... more.
Managing Director and Global Head
Brave New World Theatre Inc
Philadelphia Stock Exchange
Member of the Board of Governors
Trader Hall of Fame
Johnson School of Management at Cornell University
Brave New World
WILLIAM LIPSCHUTZ William Lipschutz is the owner and principal of Hathersage Capital Management LLC, a U.S. based Asset Management firm and Hedge Fund Advisor. Hathersage invests in the global foreign exchange markets, seeking value in the relationship between various currency pairs throughout North America, Europe and Asia. Mr. Lipschutz was at one time a Managing Director of Salomon Brothers Inc., where he was Global Head of Foreign Exchange. He was the principal trader for Salomon Brothers proprietary foreign exchange account from 1984 until he left in June 1990. From 1986 until 1992, Bill served as a member of the Board of Governors of the Philadelphia Stock Exchange, as well as vice chairman of the Foreign Exchange Committee of that Exchange. Mr. Lipschutz received a B.Arch. in Architectural Design from Cornell University and a M.B.A. in Finance from the Johnson School of Management at Cornell University. Mr. Lipschutz is featured in The New Market Wizards: Conversations with Americas Top Traders, by Jack D. Schwager, 1992.
Brave New World
WILLIAM LIPSCHUTZ William Lipschutz is the owner and principal of Hathersage Capital Management LLC, a U.S. based Asset Management firm and Hedge Fund Advisor. Hathersage invests in the global foreign exchange markets, seeking value in the relationship between various currency pairs throughout North America, Europe and Asia. Mr. Lipschutz was at one time a Managing Director of Salomon Brothers Inc., where he was Global Head of Foreign Exchange. He was the principal trader for Salomon Brothers' proprietary foreign exchange account from 1984 until he left in June 1990. From 1986 until 1992, Bill served as a member of the Board of Governors of the Philadelphia Stock Exchange, as well as vice chairman of the Foreign Exchange Committee of that Exchange. Mr. Lipschutz received a B.Arch. in Architectural Design from Cornell University and a M.B.A. in Finance from the Johnson School of Management at Cornell University. Mr. Lipschutz is featured in The New Market Wizards: Conversations with America's Top Traders, by Jack D. Schwager, 1992.
Bill Lipschutz: 7 Powerful Forex Trading Lessons + Exclusive PDF Outline
Bill Lipschutz Bill Lipschutz is perhaps my favorite trader to study. Although he's a fundamental trader, the things he managed to achieve and how he went about accomplishing them is nothing short of incredible. Whether it's the trials and tribulations he endured to turn a $12,000 inheritance into hundreds of thousands of dollars while still in college or his sheer passion for "the game," there's much we can learn from him. He's also a guy who holds nothing back. If you're looking for an honest answer, look no further than Bill Lipschutz. Who Is Bill Lipschutz? Bill_Lipschutz_forex_trader Before we dive into the seven lessons, I first want to share a little of Bill Lipschutz's story. Think of this as a synopsis of his early trading career. Lipschutz started trading equities while pursuing his Bachelor's degree from Cornell University. He inherited $12,000 worth of stock upon his grandmother's death. The amount was spread across more than 100 different stocks, so he liquidated the investments to find a more suitable approach. It's at this moment that Lipschutz caught the trading bug. He began researching and reading about the market at Cornell's library and started investing the risk capital in his free time. Not long after, he turned that $12,000 sum, which was far less by the time it was liquidated, into a sizeable $250,000. However, one bad decision nearly cost him the entire account. He was back to square one. But instead of throwing in the towel, he considered the loss a valuable learning experience. And just before the end of his time at Cornell, Lipschutz had once again built the account up to the point that he decided to leave his architectural degree behind. Then in 1984, he joined Salomon Brothers as part of the newly formed Foreign Exchange Department. One year later he was making $300 million per year for the firm. Lipschutz left in 1990 to pursue other ventures including the North Tower Group and Rowayton Capital Management. He then formed Hathersage Capital Management in 1995 with classmates from Cornell. Hathersage specializes in G10 currencies and is still operational as of this writing. If you want to read more about Bill Lipschutz's journey and discover other lessons from highly successful traders, I recommend you buy the Market Wizards series of books. Bill Lipschutz also agrees that less is more with the following quote. Bill Lipschutz embodies this principle perfectly. Here's what he does: Bill Lipschutz is the epitome of a Forex rags to riches story. Although calling his early days "rags" could be an overstatement. Still, anyone who manages a record like his deserves recognition. You'll recall that when Lipschutz was still in college, his grandmother passed away, leaving him an inheritance of $12,000. That money was spread across more than 100 different stocks. So I have no doubt by the time he finished paying broker fees, and any taxes owed it was worth quite a bit less. He eventually grew that amount to $250,000, all while still attending school. Like any 20 something year old, he became a bit overconfident and lost it all on one mistake. But instead of giving up he persevered and eventually built the account back up to its former size. That didn't stop Lipschutz from producing nearly half a billion dollars in profit for the firm in the eight years he was there. That's the equivalent of $250,000 profit for each and every trading day. So the next time someone says that only the rich succeed in the Forex market, be sure to share the story of Bill Lipschutz. Because like Bill Lipschutz, I'm 100% obsessed with trading. I have been from day one. Even at the age of 14 - before I could legally trade - I was giving my mom money to invest in penny stocks on my behalf. I probably don't need to tell you that those "investments" didn't end well. But that's when the burning desire started. Bill Lipschutz is another guy who is obsessed with trading. Bill Lipschutz embodies the kind of passion necessary to succeed. The guy has multiple quote screens throughout his house so he can watch the market's every move. Heck, he even has one in the bathroom so he can check up on his positions while he - well, you know. Bill Lipschutz once said: According to Bill Lipschutz: When they call you "crazy" you know you are on the right track. He was referring to the work ethic and insane focus that's required to succeed as a trader. Here's a great example. When Jack Schwager interviewed Bill Lipschutz in 1992 for one of his first Market Wizards books, they met at Bill Lipschutz's home. But Lipschutz isn't normal. Instead of having a couple of TVs for, well, watching TV, he used them to keep an eye on the markets. He even had one next to his bed so he could roll over in the middle of the night to check on his positions. Apparently, Lipschutz doesn't agree. Bill Lipschutz is a fundamental trader to his core. His passions lie with studying macroeconomic and political events, past, present, and future that could affect a given currency. But even though a Fed rate decision or ECB press conference aren't part of my technical analysis or directional bias, I'm always aware of them, just as Bill Lipschutz is aware of key levels in the market. Bill Lipschutz knows a thing or two about the time it takes to find success in the markets. Although he eventually found massive success, it wasn't without committing an obscene amount of time and effort. And Bill Lipschutz certainly fits the "been there, done that" profile. Although he's a fundamental trader, he never loses sight of key support and resistance levels. This enables him to gain a broad view of a market's sentiment as well as possible turning points. Lipschutz also knows that time is a risk factor. For this reason, he always makes sure to adjust his profit to loss ratio to fit the expected duration of the trade. And last but not least, he knows first hand that you have to put in the time to become successful. While it's never a quick process, the lessons shared in this post can provide a few shortcuts along the way. You can find the entire interview with Bill Lipschutz in this Market Wizards book. It contains all seven lessons from Bill Lipschutz in a condensed easy to read format.
TIMEWAVE FESTIVAL - TimeWave
William Lipschutz is the Director of Portfolio Management for Hathersage. Prior to helping form Hathersage, Lipschutz was President and Chief Executive Officer of Rowayton Capital Management Inc., an asset management firm that he founded in August 1991. Prior to that, Lipschutz was President and Chief Executive Officer of North Tower Management Group, Inc., a wholly owned subsidiary of Merrill Lynch, Pierce, Fenner & Smith Inc. Prior to forming North Tower in September 1990, he was a Managing Director of Salomon Brothers Inc., where he was Global Head of Foreign Exchange. Lipschutz received a BFA in Architectural Design from Cornell University and a MBA in Finance from the Johnson School of Management at Cornell University. Lipschutz is featured inThe New Market Wizards: Conversations with America's Top Traders, by Jack D. Schwager, 1992 and The Mind of a Trader: Lessons in Trading Strategy From The World's Leading Traders, by Alpesh B. Patel, 1998.
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Bill Lipschutz, Hathersage Capital Management
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