Commodity Trader Finds Opportunity in Real Estate
Professional traders, unabashed risk-takers, are always looking for the next hot opportunity not only to trade, but to own.
Many are entrepreneurs in other businesses outside of investing and financial services — they're in varied fields from sports betting to mobile apps to commercial real estate.
We talk to the pros about the investments they believe in and explore the entrepreneurial endeavors that have them following the money on and off of trading desks.
Trader Anthony Neglia has benefited from many golden trades. A veteran broker in the gold options pit, he's watched the precious metal nearly quadruple in price since he started his trading company 23 years ago.
Monday through Friday, you can hear his bellowing voice on the floor of the Comex. His "big mouth" — according to Neglia's father — has certainly paid off.
And that gift is paying off in his other business venture too. He's found another golden opportunity ... in real estate.
Neglia runs Volpe Realty, specializing in commercial and residential sales, rentals and land purchases. He and his wife bought the business in 2007, months before the financial crisis. Neglia says, though, "it was a calculated risk."
As a trader, he's no stranger to risk and says he's been able to realize the upside in both businesses. Largely because of the many similarities.
"They're both commission oriented businesses. If I don't trade, I don't get paid and if I don't sell a home, I don't get paid as well. There's a lot of public interaction here in the commodity business and of course you're constantly dealing with people — buyers and sellers," says Neglia.
Finding the right buyers and sellers in the markets — whether it's real estate or precious metals — is what Neglia does best.
Next in the Series: John Netto Ups the Ante on Thursday, Feb. 2 on Fast Money
Follow Sharon on Twitter: @sharon_epperson