The Man Who Made Millions During the Great Depression

A poll this week said that the majority of Americans think we are heading toward another Great Depression. We all have seen the pictures of the soup lines, of the unemployed, shuffling from “no work here” sign to another and in my mind I always picture the winds of the Dust Bowl blowing too.

That’s the image many of us have. But there were people who made money. In fact, one man made a LOT of money during the Great Depression.

The following is excerpted from “100 Minds That Made the Market” by Kenneth L Fisher

“Some 15 years was all it took for Floyd Bostwick Odlum to transform his $39,000 speculative pool into a $100 million corporate giant. He did it not by discovering growth stocks or establishing a new school of security analysts, but by snatching up undervalued post-Crash firms, often for 50 cents on the dollar, reorganizing them, then liquidating their assets, and with the cash, repeating the process over and over again. ….(he was) hailed as the man who became a millionaire during the Depression and nicknamed “50 percent”. “

He went from $39,000 (not his own money) to $100,000,000 in 15 years. Not bad. What opportunities are going to exist during the coming months and years? And, are you ready to take advantage of them?