Wed, 1 April 2020
316: Michael Ainslie, “A Nose For Trouble: Sotheby’s, Lehman Brothers, and My Life of Redefining Adversity”
Can we talk about something else? Jason Hartman invites Michael Ainslie to the show to discuss his book, A Nose For Trouble. As well, Michael shares his business tactics helping to grow Sotheby’s in his time with the company. In his stories as Director of Lehman Brothers, Michael talks about SATURDAY MORNING, the weekend that changed Wall Street forever, and some hypotheticals had things gone differently in 2008. And finally, Michael shares a brief story about the beginning of The Posse Foundation.
[3:00] Ten (actually 21) Commandments of Successful Investing, Amendment: Commandment number 22?
[7:00] Michael Ainslie
[9:15] Sotheby’s growth using “good, basic business tactics”
[13:18] The art market and purchasing of major works has become a way for new wealth to distinguish themselves
[13:40] The Sotheby’s scandal with Christie’s Auction Company
[16:00] Sotheby’s real estate, “white elephants”
[20:00] SATURDAY MORNING, Geithner said, “you have two hours to save Lehman,” the weekend that changed Wall Street forever
[24:08] If there were no bailouts, what would that have looked like?
[33:10] The Posse Foundation story