Difference between revisions of "Manny Weiss"
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| − | Weiss was head of aluminum trading at [[Marc Rich & Co.]].<ref name="GatewayAdvisors">[http://www.gatewaycap.com/about-gateway/advisors.html Advisors], Gateway Capital Group, accessed 24 october 2013.</ref> He left the company in 1992.<ref name="AMM8792">[http://business.highbeam.com/436402/article-1G1-12326956/weiss-slated-retire-managing-director-marc-rich-division Weiss slated to retire as managing director of Marc Rich division. (Manny Weiss, Marc Rich and Company AG)], ''American Metal Market'', 8 July 1992, archived at Highbeam Research.</ref> | + | Weiss was head of aluminum trading at [[Marc Rich & Co.]].<ref name="GatewayAdvisors">[http://www.gatewaycap.com/about-gateway/advisors.html Advisors], Gateway Capital Group, accessed 24 october 2013.</ref> |
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| + | Fortune reported in 1988: | ||
| + | ::Now in his 30s, Weiss is a close friend and protege of [[Pincus Green|Pinky Green]]. It was Weiss who did the firm's first metals deal, shortly after joining [[Marc Rich]] in 1975 as a teenage messenger in London. That year, while his boss vacationed, Weiss took charge of a telex from an East bloc country requesting zinc. He arranged the shipment, generating a fat profit.<ref name="Fortune1888">[http://money.cnn.com/magazines/fortune/fortune_archive/1988/08/01/70845/ WHY MARC RICH IS RICHER THAN EVER The U.S. is offering a six-figure bounty for his capture, but that's just pocket money to the fugitive commodities trader who is nearing billionaire status in Europe.], ''Fortune'', 1 August 1988.</ref> | ||
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| + | In the mid-1980s, Weiss spearheaded a strategy by which Rich affiliate [[Clarendon]] Ltd paid US smelters to process cheap Jamaican alumina during a glut in the market, establishing contractual arrangements which proved immensely profitable once the market recovered.<ref name="Fortune1888">[http://money.cnn.com/magazines/fortune/fortune_archive/1988/08/01/70845/ WHY MARC RICH IS RICHER THAN EVER The U.S. is offering a six-figure bounty for his capture, but that's just pocket money to the fugitive commodities trader who is nearing billionaire status in Europe.], ''Fortune'', 1 August 1988.</ref> | ||
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| + | Weiss later lost at least $25 million by shorting aluminum when the price dipped after the 1987 stock market crash only to recover the following year.<ref name="Fortune1888">[http://money.cnn.com/magazines/fortune/fortune_archive/1988/08/01/70845/ WHY MARC RICH IS RICHER THAN EVER The U.S. is offering a six-figure bounty for his capture, but that's just pocket money to the fugitive commodities trader who is nearing billionaire status in Europe.], ''Fortune'', 1 August 1988.</ref> | ||
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| + | He left the company in 1992.<ref name="AMM8792">[http://business.highbeam.com/436402/article-1G1-12326956/weiss-slated-retire-managing-director-marc-rich-division Weiss slated to retire as managing director of Marc Rich division. (Manny Weiss, Marc Rich and Company AG)], ''American Metal Market'', 8 July 1992, archived at Highbeam Research.</ref> | ||
He subsequently founded [[Manro Haydan]].<ref name="GatewayAdvisors">[http://www.gatewaycap.com/about-gateway/advisors.html Advisors], Gateway Capital Group, accessed 24 october 2013.</ref> | He subsequently founded [[Manro Haydan]].<ref name="GatewayAdvisors">[http://www.gatewaycap.com/about-gateway/advisors.html Advisors], Gateway Capital Group, accessed 24 october 2013.</ref> | ||
Revision as of 18:08, 24 October 2013
Manny Weiss is the CEO of Marylebone Diversified LLP, a commodities trading advisor in the base metals business, London Metals Exchange futures and options market-making and brokerage.[1]
Early life
Weiss was born in Brooklyn, New York.[2]
Education
Weiss has an MA from the City University of New York.[1]
Henry Jackson
Weiss was a volunteer for US Senator Henry Jackson.[2]
Philipp Brothers
Weiss worked at Philipp Brothers early in his career.[2]
Marc Rich & Co.
Weiss was head of aluminum trading at Marc Rich & Co..[1]
Fortune reported in 1988:
- Now in his 30s, Weiss is a close friend and protege of Pinky Green. It was Weiss who did the firm's first metals deal, shortly after joining Marc Rich in 1975 as a teenage messenger in London. That year, while his boss vacationed, Weiss took charge of a telex from an East bloc country requesting zinc. He arranged the shipment, generating a fat profit.[3]
In the mid-1980s, Weiss spearheaded a strategy by which Rich affiliate Clarendon Ltd paid US smelters to process cheap Jamaican alumina during a glut in the market, establishing contractual arrangements which proved immensely profitable once the market recovered.[3]
Weiss later lost at least $25 million by shorting aluminum when the price dipped after the 1987 stock market crash only to recover the following year.[3]
He left the company in 1992.[2]
He subsequently founded Manro Haydan.[1]
Notes
- ↑ 1.0 1.1 1.2 1.3 Advisors, Gateway Capital Group, accessed 24 october 2013.
- ↑ 2.0 2.1 2.2 2.3 Weiss slated to retire as managing director of Marc Rich division. (Manny Weiss, Marc Rich and Company AG), American Metal Market, 8 July 1992, archived at Highbeam Research.
- ↑ 3.0 3.1 3.2 WHY MARC RICH IS RICHER THAN EVER The U.S. is offering a six-figure bounty for his capture, but that's just pocket money to the fugitive commodities trader who is nearing billionaire status in Europe., Fortune, 1 August 1988.
