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Few people have managed to be hugely successful in the fields of business and politics like Bernard Mannes Baruch.

By the age of 30, as a broker and partner at Arthur Housman & Co., he built up a fortune speculating in commodities.

In his fascinating autobiography, Baruch shares his investment philosophies and also tells the famous story of how he used the term "gamble" in describing a mining deal he was pitching to J.P. Morgan. Morgan ended the meeting instantly and never ever did business with him. Baruch did go on to do the deal with other partners and made a staggering fortune but always regretted his choice of words.

Baruch never actually ran for any political office but advised American Presidents such as Woodrow Wilson, Franklin Delano Roosevelt and Harry Truman. He was also close friends with Winston Churchill.

During World War I, he advised President Woodrow Wilson and chaired the War Industries Board. During World War II, he consulted on economic and nuclear energy issues.

Baruch was notorious for holding important meetings on park benches where he claimed he did his best thinking. Baruch College in New York bears his name with a statue of him sitting on a bench at its main entrance.

He served the world in finance and politics at the very highest levels. This is a fascinating story told by the man himself.

About the Author:

Bernard M. Baruch was a financier, speculator and presidential advisor. After amassing a fortune in high finance, he made his mark in politics by advising American presidents on economic issues. Baruch died in 1965.

Categories:  Biography,  Corporate Finance,  Personal Finance