Bradley Hope is a finance and malfeasance reporter for the Wall Street Journal and his latest book is “Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World.” Bradley is a Pulitzer finalist and winner of the Gerald Loeb Award for international reporting and the TRACE International Award for Investigative Reporting.
“Billion Dollar Whale” profiles a man named Jho Low – a young Malaysian man from a relatively wealthy family. He grew up attending the best boarding schools and finished up schooling at The Wharton School. During his time at Wharton he created a private equity group. He was able to get some of his wealthier friends and their parents to throw money into the fund. From a young age he knew what made people tick and had a talent connecting with very wealthy and strong political figures. Jho eventually got an audience with the Prime Minister of Malaysia to set up a fund for the Prime Minister’s campaign – this is where the real story of Jho Low starts to unfold.
Jho quickly went from a guy with a million or so dollars to worth about $700 million over night. He began throwing extravagant parties, renting private yachts and planes, and rubbing elbows with the world’s elite. He started buying giant stakes in companies and was even able to borrow 6 ½ billion from Goldman Sachs. The extent of how much he has stolen and from who is still largely unknown. Jho Low figured out how the world works, develop relationships and was the king of understanding that you could buy just about everything. With the scandal still unfolding in real time, Bradley’s book has created waves in countries around the world.
In this episode of Trend Following Radio:
- The Wolf of Wall Street
- Sovereign wealth funds
- Money laundering
- Goldman Sachs
- Banking compliance