Building A Global Financial Empire – Daniel Gross

Real Talk: The Charles Mizrahi Show

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Who was Edmond J. Safra? Some know him as “the greatest banker of his generation.” He founded four massive financial institutions on three continents.

That’s why financial journalist and historian Daniel Gross set out to uncover the history behind this 15-year-old prodigy that built an empire based on these timeless principles: a banker must protect his depositors and avoid excessive leverage and risk.

Safra posted remarkable returns in an age of busts and bailouts while rarely suffering a credit loss.

This banker’s journey offers enduring lessons for those seeking to make their way in the twenty-first century. He inspired generations to make the world a better place.

Topics Discussed:

• An Introduction to Daniel Gross (00:00:00)
• Warren Buffett-level returns (00:10:20)
• How to succeed in a world of crowded trades (00:24:25)
• Banking in a time of no deposit insurance or bailouts (00:21:19)
• How the $10 billion deal at HBSC was done and protected the people (34:56)
• It’s business AND it’s personal (00:42:22)

Guest Bio:

Daniel Gross is one of the most widely-read writers on finance, economics, and business history. Over the past three decades, he has reported from more than thirty countries, covering everything from the dotcom boom to the global financial crisis and the Great Recession of 2008–2009.

Gross worked as a reporter at The New Republic and Bloomberg News, wrote the “Economic View” column in The New York Times, and served as Slate’s “Moneybox” columnist. At Newsweek, where he was a columnist and correspondent, he authored seven cover stories. He is a bestselling author of eight books, including Forbes Greatest Business Stories of All Time; Generations of Corning; Dumb Money: How America’s Greatest Financial Minds Bankrupted the Nation; and Better, Stronger, Faster: The Myth of American Decline and the Rise of a New Economy.

Gross was educated at Cornell University and holds an M.A. in American history from Harvard University. His great-grandparents immigrated to the United States from Aleppo and Damascus.

Resources Mentioned:

• A Bankers Journey: How Edmond J. Safra Built a Global Financial Empire
• Vendetta: American Express and the Smearing of Edmond Safra

Transcript:

https://charlesmizrahi.com/podcast/