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Floyd Bostwick Odlum (March 30, 1892 – June 17, 1976) was an American lawyer and industrialist. He has been described as "possibly the only man in the United States who made a great fortune out of the Depression".
18. Juni 1976 · Floyd Bostwick Odium, a financier who became a selfmade millionaire in the Depression, died yesterday at his desert home in Indio, Calif. He was 84 years old.
- Floyd Odlum’S Early History
- How Floyd Odlum Made His Fortune
- Who Is Floyd Odlum Really?
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Life Before The Markets
Floyd Bostwick Odlum was born on March 30, 1892 in Union City, Michigan. When Floyd was 16, his father — a Methodist minister — moved the family to Colorado. Floyd stayed close to home, studying law at the University of Colorado. He received his degree in 1914. Floyd bounced around in his first few years after college. After marrying his first wife, Hortense in 1915, Odlum accepted a job as an attorney for the Utah Power and Light company in Salt Lake City, UT. Three years later, he found him...
Dipping His Toes in Speculation
With a decent income from his job as a law clerk, Odlum started trading in the stock market. He initially saw the market as a rich, fertile ground for speculative profits. Far from his cemented legacy as a deep value investor. Yet like most beginning speculators, Odlum too paid his fair share of market tuition. After losing all his $40,000 starting capital, Odlum retreated from the markets. One newspaper revealed it, “took [Odlum] a while to pay back that sum”. Yet It was this early $40K loss...
The United States Company
Odlum wasn’t just a great investor. He also had a knack for choosing the most generic partnership names, such as his first “The United States Company”. The partnership, formed in 1923, was a couple’s affair. Odlum, George Howard and their wives seeded the partnership with $39,000 ($573K adj. for inflation). What followed over the next two years was nothing short of incredible. According to Odlum’s biography, The United States Company grew 17x from 1923 – 1925. What started as a small partners...
The Formation of Atlas Corporation
In 1929, he rolled his original partnership into a new vehicle, The Atlas Corporation. Wary of a market top, Odlum sold half his assets. He stayed in cash and issued $9M worth of Atlas Corporation securities. With $14M in cash, Floyd sat on his hands. Waiting for the next market crash, which shortly followed. Odlum was prepared and took full advantage once fear had fully gripped the market and there was blood in the streets… His subsequent operations were chronicled in an old newspaper articl...
Odlum’s 1929 Strategy: Sit. Wait. Attack.
Along with his traditional investments, Odlum dabbled in a number of other industries, including: 1. 1.1. Mining 1.2. Oil and gas 1.3. Motion picture production and distribution 1.4. Aircraft and airlines 1.5. Department stores 1.6. Manufacturing 1.7. Broadway stage productions 1.8. Hotels and buildings But his bread and butter during the Depression was buying investment trusts. His strategy was simple. He found investment trusts that had fallen so much their stock prices were trading less th...
Life After Markets: A Love of Aviation
Odlum’s life was unique. His extracurriculars sprinkled with high-profile relationships, a pioneer wife and bountiful philanthropy. After his divorce in 1935, Odlum married Jacqueline Cochran. Cochran (pictured below) was a pioneer in the field of women’s aviation. And while Amelia Earnhart garners most aviation lore, Cochran’s track record is nothing to scoff at. Some of her achievements include: 1. 1.1. Flying solo on the ninth day of flying lessons 1.2. First woman to complete the Bendix r...
Health and Retirement
Odlum battled rheumatoid arthritis most of his adult life. The pain got so bad he had to stop working. Yet even in retirement, Odlum conducted business. One section in Odlum’s obituary shines light on his relationship with business: “He often [took[ telephone calls on a rubberized receiver while floating in his Olympic-sized swimming pool.” Odlum entertained (and housed) some of America’s most prolific leaders and talents. He dined with General James Doolittle, Bob Hope, Gloria Swanson, Walt...
Bringing It Back To Investments: Three Takeaways
I want to finish this essay with three takeaways from Floyd Odlum’s investing career: 1. 1.1. You don’t need to be 100% invested 24/7 1.2. Boring is beautiful 1.3. Be a dumpster diver (with standards)
Learn how Floyd Odlum turned $39,000 into $700,000 in two years by buying undervalued stocks and investment trusts. Discover his investment philosophy, his special situations, and his role in the 1929 crash.
Floyd Odlum (1892-1976) was the initial creator and long-term controlling force behind the Atlas Corporation, a large American investment company that Welles clearly blamed for the abrupt ending that was forced on the filming of It’s All True, and hence his uncere-monious exit from RKO.
Floyd Bostwick Odlum was born on March 30, 1892 in Union City, Michigan. His father, a Methodist minister later moved the family to Colorado. Odlum attended the University of Colorado where he received a law degree in 1914. He first took a job as an attorney for Utah Power and Light in Salt Lake
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18. Juni 1976 · Floyd B. Odium, the selfmade millionaire who founded the Atlas Corporation, made a fortune in the Depression and left an imprint on virtually every facet of American capitalism, died yesterday...
Floyd Odlum, the son of a Methodist minister, was born in 1892 in Union City, Michigan. He began working to support himself at a young age delivering milk and working on a farm.
