Paul Mampilly believes too many average Americans are being misled by Wall Street and cable television business experts. His newsletter, Profits Unlimited is a tool for him to explain to this group how to start a portfolio without needing a manager.
Mampilly has made so many wise stock purchases in his time that he’s been able to teach investors the right way to pick stocks. Profits Unlimited has over 60,000 subscribers and is one of the fastest-growing financial newsletters in the US. Ideamensch decided to interview Mampilly to understand his story behind Ideamensch.
Mampilly explained that as a hedge fund manager, he saw a lot of people that could have used help they weren’t given by Wall Street. He had figured out how to make stock investing simple and believed he could help even the less-knowledgeable become versed in investing. He said one thing that pushed him to success in this field was his time working at a gas station and university cafeteria where he learned the values of hard work and pursuing higher goals. He believes in young people and says that the products they love will be driving investing trends, and in the midst of that is the “internet of all things.”
Paul Mampilly was born in India, and in 1991 he came to the US to complete his schooling. Once he accomplished that, he joined an entry level position at Deutsche Bank. He became proficient in client funds management at several other banks including ING, Royal Bank of Scotland, Bankers Trust and Sears. But then he joined the hedge fund Kinetics International while it was still new, and within just a few years it became one of the largest on Wall Street thanks to Mampilly’s investment knowledge.
Mampilly was the famous winner of Templeton Foundation’s investment competition in 2008 when he turned a profit for a $50 million fund into $88 million and did so in the midst of the recession. Not long after, Mampilly decided to retire though in reality he was going into business for himself. In addition to Profits Unlimited, Mampilly is planning to expand upon his newsletter with another titled True Momentum.
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