According to Marc Lasry, CEO and founder of Avenue Capital, right now, “the best place to invest is the US.” Lasry – whose net worth was estimated by Forbes this year as being $1.2 billion – is a self-made businessman, having scored 9 on Forbes’ 400 Self-Made Score in 2014. Further, his assets investment firm was valued at $14 billion and it raised $1.3 billion to principally invest in North American energy and utility companies.
So Lasry really is a case of someone who is ‘putting their money with their mouth is,’ given that he is advising anyone who is “an equity investor [to] be an investor in the U.S.” Further, he is advocating the Fed take a step back from the US economy because it anyway “can’t keep on pumping more and more stimulus into [the US] economy.” Rather, he continues, the economy should be able to – on its own – “grow and do what it needs to do.”
Marc Lasry knows what it is like to start from the bottom and build your way up as well. It was at 7 years old that his family moved from Morocco to America. For 10 years thereafter, he shared a room with two of his siblings. But he worked hard and earned a Bachelor of Arts/Science from Clark University and a Doctor of Jurisprudence from New York Law School. Following that, together with his sister Sonia Gardner, he founded Avenue Capital and has been working with her for the last 30 years. This year, Lasry was Number 1006 on Forbes’ List of Billionaires (Number 350 in the US) and last year, Number 24 on their list of Hedge Fund Managers.