The Banker Who Said No

A Forbes profile of Andy Beal, about an unconventional banker who virtually shut down his banking business during the years from 2004 to 2007 when dumb and dumber loans were being made, and who’s now taking the opportunity to buy up assets that he views as cheap. I don’t know why I didn’t see this article when it came out, but I thought it was worth a read.

In the last 15 years Beal says he has bought only one stock. If he ever thinks of investing in hedge funds or private equity, he says, “Just shoot me.” The blunt-spoken Beal shuns publicity and is uncomfortable in the public eye. He concedes he can seem “unprofessional.” After 20 years in the business he attended his first bankers’ conference last year.