100 million dollar profit in one year by predicting the weather

tomar1983 (25)in #trading • 6 years ago

Trader Einar Aas made 100 million USD profit in only one year by predicting the weather! Sort of that is.

Some people say that Aas subscribes to more than 10 different weather services so that he can predict the price of electricity contracts in the future.

Bio:

· Gender: Male.

· Age: 47

· Nationality: Norwegian

Aas is the person who earns the most and taxes the most throughout Norway. His income was 103 million USD and he taxed 28 million in 2016.

Very rich.
One decision in 2001 would make Aas wealthy man. Then Agder Energy decided to shut down its power trading division. Aas and three other employees started for themselves. The other three have become rich. Aas has become very rich. Already the first year he traded for himself, he retrieved over 5 million dollars in profit.

«He is better than most to handle risk», a former colleague of Aas says.

They worked together in Agder Energy-owned Interkraft Trading, which was the last job Aas had before he started trading independently.

Norway is part of a common Nordic wholesale market for electric power. Nord Pool is a joint Nordic power exchange, and electricity is bought and sold just the same way as on a regular stock exchange.

It is in this market that Einar Aas has built up his huge wealth all by himself, speculating in power contracts.

When the market was released in the 1990s, many traders made a lot of money. There was a very limited market. Those who were out first could make big money in this game, “he says.

Einar Aas started with power trading in the 90’s. According to some sources, he started with 30k $ and has built up his fortune entirely by utilizing his trader knowledge and skills.

According to another power trader, who knows the market well, this is because Aas simply is very good at working as a power-trader.

“He has been there since the very beginning and has a vast knowledge of the market. In the free market, the one who is the best player earns the most”, says the power trader, who wants to be anonymous as he operates in the same market as Aas.

Can earn huge returns.
The trader says that the power market operates like all other markets. Do you have money to invest in power contracts, you are in the market where goods are bought and sold on the stock exchange.

“It may be that you want to buy a company power for 2019 because you think prices will rise. Then you can sell and earn good money. It works as in the stock market, he says, and elaborates:

– Traders look at what price you buy and sell. For example, you look at how many units of power you get for ten million. Then you buy it, after a while, the price may double, then you sell.

Passion for knowledge.
What’s the reason that makes one continue with this when you have become a multi-millionaire?

“It’s amazing fun. It’s a passion for knowledge because you must have it. Because he does not think it’s about money anymore, because he’s doing enough to do a good job, answers the anonymous power trader.

He explains that within the huge power market there are many as big as Aas, but they are large companies and not private individuals.

«He has a different motivation than those who work to help businesses not get too high power costs.»

Speculation and risk.
Within the power market, Einar Aas is known for timing investments very accurately. The reason people talk about risk is that one can lose a lot of money doing this.

“In the market, there is a lot of speculation all the time. The traders have to provide collateral to secure that they can pay if the market moves against them.

You have to be able to make sure that you are not losing money. If I buy, he sells and the price goes up – he must pay the money to make up for himself and not go bankrupt, he says.

The trader believes people like Einar Aas are important to the market. For the more people who come in, the more correct the price will be.

Traders as him do a great job of providing liquidity in the market. It is perfectly fine that he earns a good return as he is an important part of the market.

Also active in other types of investments.
The anonymous millionaire Einar Aas is very media shy and speaks very rarely in public. There are almost no public photos of him.

His mantra is “I don’t speak with journalists”

Aas has also invested in markets other than the power market, some of which is invested in different stocks. Since 2004, Aas has bought property for 17.3 mills USD. in Norway; two apartments at Tjuvholmen in Oslo for a total of 4.9 mills. USD. million and more properties at Grimstad.

He has also invested 12.35 million USD. in a housing project in Marbella, Spain.

Only a small tab of his business is organized in the company Toppen Invest. The rest is private.

Toppen Invest had at the end of the year about 9 million USD in the bank and 14.2 million in market-based shares. The largest single investment is in the company Viking Heat Engines, The Kristiansand company, that has developed a machine that produces electricity from waste heat. Aas has increased its exposure from NOK 45.4 to NOK 71.2 million through the year 2014.

This company produces a revolutionary new type of engine based on old principles like the steam engine.

Toppen Invest also owns 72 % of the Oslo company 2014 Invest, which invests in financial instruments in freight markets. This company had a profit before tax last year of roughly 800K USD.

The 47-year-old is living in a large red house on a huge plot, close to the southern archipelago, northeast of Grimstad city center. The municipality of Grimstad would have a loss of operating costs if it had not been for the municipality’s taxpayers. Aas contributed a total of 28 million tax dollars in 2016.

In the period 2005-2014, Aas had revenues of around 271.79 million USD and paid 87.71 million USD in taxes, of which about 12.35 million USD to Grimstad municipality.

Aas also support the local soccer team Jerv with large sums of money.

The amazing trader.
He has become a leader in trade of power contracts, shares, funds, property, and currency.

Not least because of a bet he made when everything looked darkest. When the financial markets collapsed in the autumn of 2008, he invested a mere 25 million USD on Oslo stock exchange.

He hit the bottom almost perfectly.

When he sold out of the equity fund KLP AksjeNorge Index a year later, the 25 million had increased to almost 44 million us dollars.

In the year 2016, Aas had an hourly income of about 11.736.- USD.

Which gives a perspective of just how much money he really is making.

Aas lives an anonymous daily life in Grimstad, Norway.

No one is allowed to take pictures of him. And he never give interviews.But his merits speaks for them self.