Crunchbase has it that Brad Reifler has the financial trading background most people can only dream about. As the grandson of Refco’s founder Ray E. Friedman and the uncle of Refco’s star commodities trader for over 30 years, Thomas Dittmer, Reifler had access to a world of investment opportunities that the average person does not even know exist.
In the 1970s you could graduate from college with a business degree without realizing that many people made their living by buying low and selling high, and not necessarily in that order. Business schools taught students how to run businesses that survived by producing real goods and services. School taught Main Street, not Wall Street.
According to Crunchbase, when Brad Reifler graduated from Bowdoin College in 1981, he quickly became a star trading at Refco. He wanted to go out on his own, however, so in 1982 he found Reifler Trading Corporation, which in 2000 he sold to Refco.
And in 1995 he founded Pali Capital, which eventually had 250 employees and offices around the world.
In the meantime, however, he discovered he could not even help his own father-in-law manage his retirement savings, because the man was not an accredited investor. Learn more about Brad Reifler: http://www.barrons.com/articles/the-mystery-stock-thats-up-14-fold-this-year-1482555949
Last year in a review of the movie “Money Monster,” Brad Reifler expressed how that affected him. During a live broadcast of a TV show “Money Monster” (loosely based on a real-life show), a desperate man takes the show’s investment “guru” Lee Gates hostage. The kidnapper has been driven to this extreme because he lost all of his money on a Lee Gates stock tip that went bad.
In his analysis of the drama driving the film, Brad Reifler points out three current problems with the financial services industry for ordinary investors.
Many firms charge outrageous management fees even if their funds go down in value.
Only accredited investors have access to hedge funds, private equity placements and the like.
The major form of investment left for nonaccredited investors is the stock market, which is highly risky.