Similar to any endeavor, there are different levels of mastery when it comes to investing and managing private funds.
There are also numerous ways to gauge whether a person could be considered an expert in this particular field. However, unlike sports, skills or music, where one’s level of expertise may not necessarily correlate with how much profit he makes from his chosen field, a successful investor is primarily and almost exclusively measured by how much he has made his portfolio grow in terms of monetary value.
Latvian-born billionaire James Richman is no ordinary private investor. Known to be from Smarde of Tukums, in Latvia, he is known to be reclusive and has to a contrarian approach. He owns a private investment firm JJ Richman, that manages the wealth of some of the world’s most secretive and elite families and organizations.
His investment strategies have resulted in a decade-long streak of profit returns from his own personal money to the money of his close circle of friends and members.Now, let us take a look at how he has been able to achieve these amazing achievements in a world that is described as cut-throat and not for the faint hearted.
- Putting his money where his mouth is
As a young boy growing up, James had almost no opportunities. His life was tough and had not enjoyed the resources of a wealthy family. Instead, he survived by leading a very frugal life. This reflects in the way he plans out his investment strategies as he is the type who puts his money where his mouth is by having his own capital in the fund to ensure investors confidence that he only wants the fund to perform well.
- Keeping it clean
James Richman makes it a point to handpick his investors personally. Even those whom his friends refer undergo certain level of scrutiny to ensure the private fund’s legal and regulatory compliance.
As the fund mainly works with ultra-high net worth individuals (UHNWI) and families, the fund does not take on any unqualified investors from the public. Next, he sees to it that they do not have criminal issues or money laundering tendencies. Richman also makes it a point that the investment strategy conforms to the global rules and regulations. This not only makes the investment ethically responsible, but it also cuts down on unnecessary risks.
- Sticking to your principles
Today’s technology relays information massively and more rapidly than ever before. With it comes news and trends regarding investments and updates on companies and the market.
This could tend to keep an investor misinformed and be swayed to act impulsively, or to just jump aboard a bandwagon without considering the effects. James has no history of this, as he maintains his investment strategy to the letter. He may make adjustments along the way but all are based on research and his expert judgment.
- Thinking big
James Richman’s investment strategies may be complicated to analyze for many, but he simply puts a premium on how the private investment fund could be earning in the biggest possible way and some of the most exciting technologies while providing as much economic benefit and enriching the world around us
Not all people can be experts at every endeavor that they venture into. This should always be realized. James is certainly a wunderkind in financial management as he has innate abilities perhaps uncommon to many. He has high functioning advanced cognitive skills from his Asperger’s syndrome and his love for observing patterns is just unique and a perfect fit for his chosen endeavor.