Autobiography Assessment of Bernard Baruch
Introduction
Bernard Baruch who was as referred as, ‘the park bench statesman’ is one of the American icons who made his fortune on the Wall Street. Historical records indicate that, though he had many challenges, he managed to succeed in diverse fields. As an icon, he made varied strides in varied fields. As documented, among all the greatest was the time during which he provided service to his country as an adviser in the economic sector. These services were mainly offered during the world wars I and II. He further provided his services as a confidant to six United States of America presidents. Among many jobs that he got involved in, some are an American financier, statesman, stock investor, philanthropist and a political consultant in the United States. Bernard Baruch is well known for his success in the businesses that he got involved. These achievements, made Bernard be recognized and classified as one of the greatest achievers in the Land of America.
Little history is documented on the Bernard. His father Simon was a German, who came to America in the 1855 to avoid the Prussian conscription. Baruch was born in august 19, 1870, in Camden. At the age of 15yearss, Barnard knew only one person in his motherland, that was, Mannes Baum, who was the owner of the general store in Camden. With the help of Baum whom he worked for as a bookkeeper, Baruch learned English.when his family had moved to New York when he was hardly 10years on age. A remarkable accomplishment of Baruch came New York, Washington and abroad, but truly his roots were always in the South Carolina.
Baruch had not renguilished a trace of his accent from the southern even after seventy years after he went to New York. On the site of 17 Lexington, Baruch walked into the halls of college of the city of New York by then. He was just one among the many entering students, and none could have had an idea of what he was going to be. None guessed that Baruchs Alma matter could eventually bear the names of this distinguished alumnus of the college. Bernard Baruchs public life is well known by many people, but just a glimpse of his private life and his family can be disclosed through the photographs that are archives of Baruch College.
Bernard Baruch started school at the age of fourteen. History indicates that, he began his studies in one of the most prestigious colleges of the city of New York. During those times, a student could go directly to the college for there were no any private schools. One could start the studies as long as he met the requirements. As portrayed by Bernard Baruch, we can learn so many aspects of successful business. One of the aspects depicted here clearly is positive aspect of to saving life. Baruch could walk to save money. He walked about forty blocks in the day to day life from his home to the college. He was able to save a dime on a weekly basis. The allowance was only a quarter a week.
Baruch transformed into a six foot three man who was with an athletic build from rather a weak boy. It was because the days in which he was in college were a time of enlightenment intellectually and this made his knowledge of the world grows and finally Baruch completed his growth squirt. Baruch became a runner on the Wall Street after his graduation from the college of the city of New York. He was trying to learn in any way possible as much about businesses. While he was already an athlete at the college, Baruch continued to practice boxing at the gym.
In partnership with one of his brothers, Baruch left Housman to open Baruch brothers. He opened the Baruch brothers with Hartwig who was also known as ‘harty’. Baruch lost his fortune and got it back several times in the years that succeeded. Baruch and harty bought H. Hentz Company in the year 1907. This act was an international commodity which had its offices in Wall Street and in Paris, London, berlin, as well as other cities.
Bernard Baruch had become one of the financial leaders in the Wall Street by 1910. Baruch fortune increased as the twentieth century progressed. He had begun to want, out of life, something more. The words from his father always made directions his life would take. Baruch was always envious of Herman, his brother. Herman according to Baruch followed the father’s footsteps and by then was a doctor. Herman was working towards a greater good in life.
Baruch finally resigned from the service in the year 1918. He decided to follow the by then president Wilson to Europe. This happened even though the country’s mobilization of resources by Baruch was much successful. He followed Wilson to Europe for a peace conference. The war was looming, and Wilson also had been re-elected. Wilson called Baruch to offer him advice. Baruch was offered this job because of his good understanding of the economy of the nation as well as the resources that are industrially obtained. Baruch continued to be the president’s advice even after the world war ended. He served presidents Harding, Coolidge, Hoover, Roosevelt, and Truman as an adviser. During his service, Bernard offered to them all his best. Baruch always conferred with most of the officials on the bench in Washington’s Lafayette Park. This was due to the privacy and the atmosphere of the area.
Baruch became to be known as the park bench statesman because of the love of being on the bench. Baruch had bought the Hobcaw barony in the year 1905. This was a 17000acre plantation. It is located in South Carolina about three miles by water in Georgetown. This service was originally granted Lord Carteret by King George II. This plantation that Baruch bought in the hunting season was his retreats well as each year in the month of May. By the time Baruch came back to America, he was a very changed man. It became a turning point for Bernard while much of the America was regretting the involvement in the war by the United States and the slipping back to the isolationism by the United States.
Baruch decided not to go back into full-time job of a financial career. He wanted to try as much as possible to concentrate on the affairs of the public and serve the interest of the people. Baruch admitted himself that making money was no more satisfying than service to the public. With the wild speculations going on in America, then Baruch became more increasingly concerned. Baruch among some other people withdrew. It was a plan to save them from the ruin when the stock marked crushed back in the 1929. Baruch tried by all means to remain optimistic even though there was a depression that was gripping the country.
Baruch became immensely worried with the rising of Hitler in Germany. As indicated, Baruch continually advocating justice and better living standards to all. His demands and calling for preparedness was also unheeded until 1941 attack by the Japanese on the Pearl Harbor. Baruch could give help in whatever way his help was needed during the war. Baruch finally was appointed as a representative of the United Nations atomic energy commission. Baruchs plan was rejected by the Soviet Union. In 1947 to describe the relationship that was between the US and the Soviet Union, Baruch coined the term ‘cold war’. For over 40years, Bernard Baruch advised American presidents.
Baruch was highly regarded by majority as an elder statesman in his later years. Baruch was then described as a man who had an immersed charm. Baruch loved and enjoyed a reputation which was larger than life. This truly matched Baruchs fortune that was considerable. Baruch remained an advisor who was prominent and in the civil service he was a major participant. To honor his illustrious alumni, Baruch honor was named the city college school of business administration on Lexington and 23rd street. The public, as well as the private life of Bernard Baruch and his immediate family, will be shown by utilizing the archives from Baruch college materials.
During the 30 years period, belle Baruch purchased hob caw barony that was initially his fathers. The property up to now remains owned privately by belle W. Baruch foundation. The University of South Carolina, as well as the Clemson University, uses the area as a center for environmental research. In general very few books that talk of investment that I have ever read provided an immerse knowledge on how to make money. I have actually come to know very much about the investing. This occurs mainly by reading the books that are based on the theory of the evolutionary as well as the philosophy. Many people are fond of Burach`s read because it provides many history tidbits of the market interestingly that I never knew more about.
In this excerpt, we get to learn more about Baruch. It is in a position to transform any myth to reality in real life. It is an imperative book because it shows that, Bernard may have been one of the influential men in all of the 20th century. Most of Baruch's understandings with the stock market are got in Chapters 7-14 and Chapter 19, titled "My Investment Philosophy,” where he arranges out his instructions for hazarding. Baruch's technique was approximately indistinguishable to Gerald Loeb's, which Mr. Loeb pronounced in his 1935 book "The Battle for Investment Survival". In cooperation men were stockholders, not brokers, who prospered because they knew when to get out of the market. Chapter 12 is devoted to the "Waldorf crowd", the fashionable and resplendently affluent businessmen who patronized the Waldorf-Astoria. Baruch gives us his individual take on the profligate "Diamond" Jim Brady, earmarked and expectant James R. Keene, and the overexcited "Bet a Million" John Gates
These episodes indicate that, though lawmaking and time alterations, human concentrations and procedures of the spirited don’t work. . In this book, the prodigious "operator", who is Bernard Baruch, of the leading partial of the twentieth century. I think that, only Jesse Livermore and Bernard Baruch warrant the righteousness and privilege to be honored. . Baruch communicated of his dogmatic understandings, family association, and greatest outstandingly to dealer bibliophiles like me, a lot about his "operation". Don’t want to be so firm here.
However, if you like Ruminations of a store machinist, you shouldn’t omission this. In fact, there are many harmonies amongst the two, like their robust evading of instructions and inspiration of "insiders.” These characteristics are penetrating and performing on evidences. As shown, only trust, physique consciousness remained as the leading market teamster, request, and hoard. They acted as the definitive adage, profligate confidences and exchange of a "New Era.” This trend was in progress of monetary dreads, the apparent almightiness of Morgan, and the establishment of a puddle by a hypothetical multitude is an emblem of feebleness.
Many scholars and researchers have provided boundless explanation of the life of one of the world's greatest achievers in investment. These views have provided fascinating viewpoint on some of Baruch's generations. A book-lover can also get an indication of some of the happenings that stimulated the insider interchange commandments that procedure the underpinning for contemporary sanctuaries industry directive. This book is one of the very meaningful books and contains a very good story for those absorbed in economics, capitalizing and antiquity.
This book about Bernard Baruch was insightful and educational. It was a biography on one of America's greatest efficacious civil consultants and Wall Street Stockbrokers. Not only did Baruch segmental lot of life know-hows, but he also gave numerous arguments of understanding that were very stimulating. I felt like I had known Bernard Baruch for a longer time, and have a gigantic admiration for the man he was. He accurately is concerned about the United States and every person who is in America. He made his work personal a personal reference to many. He states that, "Above all elsethe stock market is people (that)pit their confidences and doubts, assets and faintness, greed and standards." Bernard Baruch came out as a tremendously well-heeled as a stock advisor, yet he realized that, life was more than any coin earned. "I realized how much there was could not be bought for money (178)" He was also very substantial with the currency he made. Baruchs mother had told him to "do something for the Negro (289)", which he did when he was very thankful. He contributed money to help from a hospital but obligatory that the hospital in South Carolina leave beds earmarked for Negros.
Baruch also made many donations to the development for many college scholarships which were solely to the African Americans. In overall then this book showed me what a great man Bernard Baruch was both for his country as well as for the family and personally. We also come to learn many stories as well as the hard work of Barach about the adventures he made as well as his life as a stock broker and also as an advisor in the political arena. He served as a political advisor from during the times under President Woodrow Wilso and franklin Roosevelt. Baruch found his main passion in the politics and economics and hence he had to choose between many businesses that he managed to take over and operate. "A skilled operator in various fields always requires the same instinctive.” To me then I take my chance to state that Baruch had that "feel" and it is because of the fee that is why he prospered in whatever he did in life.
Bibliography
"Bernard M. Baruch Jr., Financier's Son, 90." New York Times, Nov 29, 1992, Late Edition (East Coast), http://search.proquest.com/docview/428785097?accountid=1611 (accessed December 4, 2014).
Land, Martin. A Complicated Mind. The Jerusalem Report, Aug 22, 2005. 39, http://search.proquest.com/docview/218747296?accountid=1611 (accessed December 4, 2014).
Mao, Vincent. "Bernard Baruch's Road to Riches Focus: The Investor used Lessons Learned to make Millions on Wall Street." Investor's Business Daily, Apr 20, 2010, http://search.proquest.com/docview/1002874758?accountid=1611 (accessed December 4, 2014).
Stein, Herbert. Bernard Baruch's Life of Influence. Fortune (Pre-1986), Sep 21, 1981. 193, http://search.proquest.com/docview/199936180?accountid=1611 (accessed December 4, 2014).
