How this money manager uses his military background to maximize returns
Dryden Pence runs Pence Wealth Management with his wife Laila after serving in the Army for 22 years.
There are several approaches to investing in capital markets that have yielded strong returns. For Dryden Pence, the backbone of his strategy comes from his military background. Pence spoke recently with CNBC over the phone about his early days in the finance industry and how he incorporates his military skillset in his investment approach, which has helped his firm's assets under management grow to roughly $1.4 billion. He also discussed some of his long-term stock picks and some of the challenges he sees in the current market.
... is like a bridge you have to cross. The guy that controls the bridge controls your satisfaction, so he's got pricing power and he can charge more. … It's really all about fundamental human demand and who can make the most money from that.""I started off originally in the investment banking business with a regional broker-dealer in Fort Smith, Ark. We provided equity to rehabilitation hospitals, mostly on the real estate side. I did that from about 1987 up until about 1990.
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