living the dream

“Where am I going to be in a year? Let’s put it this way, I’m going to be living the dream.” Hint: known for his deep in the money calls, this person has been described as one of the greatest minds on Wall Street, who in addition to his market moving prognostications, is known for his love of private flying and fear of indoor plumbing. [CNBC]

Steve Mandala is the guy who took Merrill Lynch for $780,000, and with some of the cash, bought himself a red 2006 Ferrari F430 Spider. Prior to joining the bank, he was a broker at Maxim Group who earned about $100,000 annually. He sensed that there was some money to help himself to at Mother Merrill but didn’t think he’d be able to land the gig. So, he lied and told them he was a partner at Maxim, where he managed $300 million in assets and took home $765,000 a year. This probably would not have worked at some other firm, but Merrill was a special, special bank.

“Somehow you got them to hire you because you told them you had big-time clients?” acting state Supreme Court Justice Carol Berkman said to Mandala in court, referring to Merrill Lynch.

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