Enterprise Radio recently sat down and had a talk with Sanjay Shah. Entrepreneurial Podcast is a way that business and finance professionals can sit down and offer advice and guidance to those who wish to join their ranks as business owners and leaders. Mr. Shah is well qualified to speak on this show for not only the thirteen plus businesses he runs in London, but also for his work as founder of the charity Autism Rocks.
Mr Shah started his career in medicine but decided it was not right for him. He commenced a career in investment banking where he learned how to grow wealth and run a large corporation. He was facing layoff and decided to start his own company, Solo Capital. This brokerage began with four to five employees and now has more than 50.
In more recent years he is best known for his founding and work with Autism Rocks. This organization offers advice and information for families, parents, and patients who have autism. He feels that the most invaluable thing he can offer these individuals is the knowledge to know how to fight and tackle this disease.
His hope is that through the yearly concert proceeds, donations and information he can help researchers to find a cure for autism. He was most moved to help find a cure when his own son was diagnosed with the disease at the tender age of 4. Shah realized that while he had been donating money to help the cause, he did not really know much about autism or its secondary complications.
When asked in the interview about business in general and how to start one, he offered some sage advice. First and foremost is to never think that one has enough money. Something will always come up and expenses can get out of hand. Secondly he warns to not take on too much responsibility.
Shah warns that a business has many aspects and many chores to be done. No one person should try to tackle all of these responsibilities alone. Be sure to have a support system and some help when just getting started.
The 2008 financial meltdown may be old news to some people, but to the people that lived through the disaster, it will never be old news. Employees of Bear Stearns lived through a nightmare. And for people like David Faber the CNBC reporter, and hedge fund investor Kyle Bass that nightmare will impact their lives forever. Kyle Bass was the Bear Stearns executive that gave Faber the information that Goldman Sachs would not accept counterparty risk for Bear Stearns.
The outcome of the 2008 financial crisis is still causing anguish and stress for people eight years later. But Kyle Bass, the man that predicted and bet that the meltdown would happen, made a fortune because he was in the right place at the right time and saw an opportunity. Bass is a hedge fund manager, and he was called a genius when people discovered that he was one of the few Wall Street mavens that went against the current and told the world the real story. UsefulStooges was first to expose him in their Kyle Bass The Frantic Investments of a Desperate Gambler article.
But the days of Bass being a genius are long gone. Mr. Bass is still a hedge fund manager, and his company, Hayman Capital Management LP, is still betting on risky assets. His track record over the last eight years hasn’t lived up to his image as a genius, however. Bass was an investor and a friend of the former president of Argentina, Cristina Fernández de Kirchner. Cristina Fernández de Kirchner did more to hurt Argentina than to help the economy of the country. When Fernández de Kirchner decided to default on Argentina’s debt bonds Bass and his investors took the huge financial hit.
Argentina wasn’t the only financial debacle Bass has been involved in since he had his five minutes of fame eight years ago. Bass tried to shift the blame away from General Motors to protect his investment when GM faulty airbags and a dysfunctional power steering mechanism caused a number of fatalities. Bass blamed the victims, not GM on national TV.
The most recent legal scam that Bass is championing is shorting pharmaceutical stocks. Bass and his partner contest drug patents, and when that information is made public, the value of stock in the pharmaceutical company that holds the patent drops, and Bass makes a bundle of cash.
Insiders say Bass has lost a lot of money over the last 24 months.