Insider Gone Rogue: Learn to Beat Wall Street With Paul Mampilly’s Book
“An insider gone rogue.”
That’s how Wall Street legend, author and former hedge fund manager Paul Mampilly describes himself in his new book, “Profits Unlimited — A Wall Street Insider Reveals the Secret to Life-Changing Wealth.”
“I won’t stop until I complete my mission of turning as many average investors into millionaires.”
The book, which became a bestseller within days of publication, teaches you, the average investor, how to beat the stock market and Wall Street insiders at their own game.
Mampilly, one of Banyan Hill Publishing‘s expert stock market gurus, was born in India and he learned from his father at a young age that sometimes you have to take chances to get where you want to be in life.
And his goal in writing the book, which has already reached No. 1 in the “Stock Market Investing” category on Amazon, is to turn at least 1,000 everyday Americans into bona fide millionaires using his tips and strategies.
“This book is the culmination of my life’s work,” the 25-year Wall Street veteran said in an exclusive interview with Money and Markets. “It’s about my journey from India, where my love of stocks and finances first started as a kid. The lessons I learned from my father turned me into a true speculator. I came to America and went to college, and then quickly rose through the ranks on Wall Street and made a lot of money for a lot of people — mostly big companies and one-percenters.
“But I soon learned that my true passion was helping Main Street investors change their lives through the stock market. I’ve made it my mission to show 1,000 everyday Americans how to become millionaires.”
Mampilly’s father, whom he calls his greatest inspiration, took a big risk getting his family out of India by taking a job in Dubai.
And the risk paid off.
He was able to send Mampilly to college in the United States, where he earned degrees in finance and accounting. He also was an editor for his college newspaper during a great time for the stock market under President Ronald Reagan in the 1980s.
“The funny thing about my education is once I finished, I kind of realized that the degrees were almost pointless because they didn’t teach me what I really wanted to know — how to make real money trading stocks,” Mampilly said. “But then I started working at Bankers Trust as an assistant to a portfolio manager before becoming a portfolio manager myself. Then I earned my master’s degree from Fordham University and became a chartered financial analyst.”
Soon after becoming a CFA, Mampilly was the toast of Wall Street as a hedge fund manager. His fund was named one of Barron’s “world’s best” during the 2008 financial crisis, raking in 76% returns during the heart of the worst financial crisis since the Great Depression.
Much like Nobel Laureate economist Robert Shiller, Mampilly is a big believer in behavioral finance. As the ’08 crisis was unfolding and people were losing their shirts, he knew exactly what was happening and why.
An excerpt from the book:
Ultimately, the stock market runs on human beings making decisions based on emotions and impulses.
The critical impulses in trading are always extremes of fear and greed. That’s when I began to see that underpinning the markets was this enormous real estate bubble that was beginning to form in the United States. There was something underneath it that was even bigger. I just couldn’t get my hands around it. Now, in hindsight, we know what it was. It was the shadow banking system — derivatives, mortgage-backed bonds and all that.
In the middle of 2008, I woke up and said: “Wait a second. I know what’s going on here. This is exactly what I was writing about from 2003 to 2006 in my blog.”
After betting everything he had on the market bottom, stocks suddenly started to rebound and Mampilly and his family moved to North Carolina to fulfill a new dream: instead of helping big banks and one-percenters turn millions into billions, he wanted to help Main Street Americans turn thousands of dollars into small fortunes.
In the book, Mampilly also discusses the Wall Street of old, “where you made money buying low and selling high”; compared to today, where Wall Street “makes money in a bad way.”
“It takes advantage of customers, ripping them off each and every single day,” Mampilly wrote. “Wall Streeters get rich today by charging customers fees and commissions. The price tags seem small. However, it adds up.”
Mampilly also discusses why he believes the market and U.S. economy right now has a lot of similarities with how things were in 1982, how 50,000 is “just the beginning” of where the Dow Jones Industrial Average is heading (it’s just south of 30,000 right now), how “the bull market of a generation is still ahead of us, and why you should invest now.”
Mampilly also is an expert on market mega trends like Artificial Intelligence (AI), robotics, the Internet of Things, Precision Medicine, 3D printing and more. These mega trends are creating a Fourth Industrial Revolution, which Mampilly calls “America 2.0.”
“I won’t stop until I complete my mission of turning as many average investors into millionaires,” Mampilly said. “Coming from anyone else, that might seem like an unrealistic promise. But the fact is, I’ve helped people do just that over the years, which is why this book is the best way to get my millionaire-minting secret into as many hands as possible. And I won’t stop until I reach my goal of helping 1,000 everyday people hit a seven-figure net worth.”
Check out Mampilly at BanyanHill.com and on Twitter, and watch he and Banyan Hill Director of Investment Research Amber Lancaster‘s unboxing reveal of his new book, “Bold Profits — A Wall Street Insider Reveals the Secret to Life-Changing Wealth.”