Mike Nierenberg demonstrated the fact that he looks to the past to invest in the future by his first move into the financial industry. The first move made by Mike Nierenberg in the financial industry was that of joining Lehman Brothers.
It was at Lehman brothers where Mike Nierenberg was able to really apply the concepts he learned at his school and make a significant difference in his life. Mike Nierenberg was able to become more concrete in the financial sector by doing and learning at a well organized firm.
Let us dive into this first prominent financial institution that Mike Nierenberg was able to be a part of and learn so much from over the course of his tenure there.
The History of the Brothers
After opening up a store and delving into the trading business, the Lehman Brothers were on a roll, they were slowly becoming a full-fledged institution.
They had started off with a dry-goods store, and now they were organically adding a raw cotton trading business by accepting cotton as a sort of currency. They accepted cotton because it was in demand and because they realized they would be able to pad their profits with a store of this valuable asset.
As the years went on, they realized that the acceptance of cotton, and the trading of cotton was a very wise move on their part. The trading business quickly became a key part of their activities, it even outpaced the sales of their staple goods store.
The story of Lehman continues with the passing of one of the brothers due to a fever in 1855.
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