A Connecticut man has found a way to make millions of dollars by investing in the state’s dirty financial sectors, including Wall Street.
Mark Ellingworth, 46, is one of the richest people in the country and he’s using a strategy called “filthy money” to generate tens of millions of pounds of wealth.
He’s the founder and CEO of WealthConnecticut, a firm he founded that offers financial advice to the middle-class.
He started WealthConnect Connecticut in 2011 and it now has about 2,500 members, all in their 40s and 50s.
Mark says he has invested in the financial industry since the 1990s and that his investment has been profitable.
“I don’t think it’s a bad idea, it’s just a bit more time-consuming,” he says.
“It’s a lot easier for us to do this because we have this experience in the private sector, and we’re all just doing this for fun,” he adds.
But what makes him unique is the amount of money he’s making from his investments.
“If you go into a bank, it takes a couple of hours to do a simple transaction,” he explains.
“You can make millions and millions of pound, so I think that’s where we’re at in our journey.”
Mr Ellingwood says he’s been making money since 2008 when he sold his investment business, Capital Asset Management, for a total of $1.5 billion and opened his own firm WealthConnect.
His clients include hedge funds, private equity firms and large multinational companies.
“Our clients, whether they are investors or just individuals, they want to be aware of the risks, they need to understand what they can afford to lose,” he said.
“So I think we can offer them advice on how to do that, how to invest properly, and they can also help them to understand that we’re the financial experts they can rely on.”
The firm also helps people who want to invest in financial products like derivatives, index funds, credit default swaps, and ETFs.
“We have to understand the risks that are involved in this business and we also have to make sure that we understand the business itself and how to make it work for our clients,” he explained.
“In the end, we want to provide them with a simple, effective and efficient way to get a piece of the action, which is not always the case in the investment world,” he added.
“When you’re in the business, you want to have a fair price.”
Mr Toth’s investment in the stock market has made him millions.
In 2013, he and his wife bought a $15m house in Southfield, Connecticut, which they then turned into a $1m office building.
“My wife’s job is to take care of the children and then I have to pay my bills,” he joked.
“She does that because I’m just so busy,” he continued.
“That’s how I pay for my bills.
I have no time to spend on anything else.”
Mr Aulworth says he is very proud of his investment in Connecticut.
“Connecticut has been my playground since I was a kid,” he laughs.
“They gave me a home, a good job and the opportunity to go out and play and that’s what’s important.”
What is filth?
A lot of people think filth is simply bad.
But there are some things people have to consider.
“There are a lot of things that are not necessarily bad,” he admits.
“But I think what people forget is that the amount you spend on this business is much more than just the cost of the property itself.”
Topics:wealth-and-imperial-war,wealth-management,business-economics-and/or-finance,industry,health-administration,business,united-statesFirst posted March 04, 2019 09:42:06Contact John Furlong