Many would say that Wes Edens the co-founder of Fortress Group and co-owner of Milwaukee Bucks loves counterintuitive bets, but this is something the well decorated alternative asset manager would disagree. According to Wes Edens, he loves seeing things for what they are and not from other people’s perspective. This trait is probably one of the factors that has helped Mr. Edens achieve so much success in his career. However, there is more to it. Here are some of the lessons you as an investor and entrepreneur can take from Mr. Edens.
Be ready to bet on yourself
As an investor and an entrepreneur, it is always important to believe in yourself and your abilities. Edens’ success story proves this fact true. In 2014, Mr. Wes Edens went ahead to invest in MBA’s Milwaukee Bucks even after having prior knowledge of the team’s poor performance. Additional instances that shows this investors trait is with their company- Fortress Investment Group- decision to invest in a private passage railroad project even with the increasing vogue investment of self-driving cars.
It is important to listen to advice
In actual sense, its correct to say that Mr. Edens career would not have been as it is has had he not paid counsel to his acquaintance at Merrill Lynch who encouraged him to join Wall Street. It is after moving to New York that Wes Edens was able to establish his career which later saw him partner to start his own alternative investment firm.
Always pick yourself from the gutters
Business and investments is a risky a fair. Wescan tell this first hand. Just when things seemed to be working out in 2007 with Wes as they had just launched their first private equity fund, the 2008 financial crisis kicked in. The company and equity fund suffered huge losses but this did not stop Edens from working all year with only four Sundays off his schedule. The resilience finally paid when his 2010 bet of $124 million on Springleaf Holdings Inc. a subprime lender rose to $3.5 billion in 2015.
Investment and entrepreneurship can be risky and challenging but with optimism and lessons from Wes Edens proves that there is nothing too big, too huge to conquer. Even with Wes going big on creating infrastructure and investing in companies, he is still a guru in his regard when it comes to matters alternative investment. Wes Edens and Brightline: The Future Looks Brighter for South Florida Commuters