The Roller Coaster Life Of James Altucher

wealthymattersEver wondered what it feels like to lose a great deal of money?Here’s a first person account:

When I built my first company in the 90s I did everything smart until I did everything stupid.

We built websites for entertainment companies. Bad Boy Records, Miramax, Time Warner, HBO, Sony, Disney, Loud Records, Interscope, on and on. Oh, and Con Edison.

Then I saw that kids in junior high school were learning HTML. So I sold the business. $15mm. About a year later. I hedged and cashed out. Sold all my shares. The $15 million was now cash.

I bought an apartment for millions. I rebuilt it. Feng Shui! I bought art. I played a lot of poker. I began investing in companies. A million here. A few hundred thousand there. One IPO I put $2 million in at $20 and watched it go to $0. They made wireless devices for deaf people. Huge market. Read more of this post

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