During the 2008-2009 crisis, Paul Mampilly managed to grow $50 Million to $88 Million. This was an exceptional achievement. For that, he won the prestigious Templeton Foundation Investment Competition. Paul’s influence in the finance sector is indisputably great. He worked at Wall Street but afterward felt that he couldn’t continue making money for only top 1%. As such, he retired and sought to dedicate his time to his family.
Wall Street on Downward Spiral
Initial Coin Offering is a way for a company to offer pup its shares in exchange for cryptocurrency. The cost is estimated to be about $300,000 for $1 Billion worth ICO. This is nothing compared to the $70 Million charged by banks for IPOs or the $3.7 Million charged by intermediaries on Wall Street. Most companies are choosing to remain private a little longer because it is just too expensive to go public. This is evident by the number of IPOs in 2016 compared to 1999. In 1999, there were 486 IPOs. Fast forward to 2016; there were only 105 IPOs. Paul Mampilly attributes the impending death of Wall Street to these reasons. ICOs, ITOs and online stock trading are phasing out Wall street entirely.
Working for the Little Guy
The former ‘Wall-Streeter’ had very noble reasons for leaving the hustle and bustle of his career. He was tired of making money for the super-rich. Paul Mampilly realized that rarely was a regular Joe given a second look and when he was, he would be taken advantage of. Paul also noticed that useful investment information was only freely available to Wall Street insiders. Thus, the inception of Profits Unlimited, Extreme Fortunes and very recently, True Momentum. He wanted to help main street citizens find wealth in investments, technology, and stocks.
Paul Mampilly started his career on Wall Street in 1991 as an Assistant Portfolio Manager at Bankers Trust. He later held positions at Deutsche Bank and ING. In 2006, multibillion-dollar company Kinetics Asset Management drafted him to manage their hedge fund. He grew the $6 Billion portfolio to $25 Billion. In 2016, he joined Banyan Hill Publishing as a Senior Editor to make stocks and investments research affordable and accessible to regular citizens. Paul Mampilly won the prestigious Templeton Foundation Investment Competition for growing $50 Million to $88 Million during the 2008-2009 crisis.
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