Hedge-funder Mike Novogratz may be on to something. The Princeton wrestler turned Fortress Investment Group Principal is the Chairman of Beat the Streets, a relatively new initiative designed to expose New York City’s youth to wrestling.
And that it has; since 2007, the number of wrestling teams in city’s Public Schools Athletic League grew roughly 70%, from 19 teams five years ago to 64 teams today.
What’s most interesting, though, are the intangible skills that wrestlers take away from the sport. Skills that make them more responsible, says Novogratz. Those skills also, so he seems to suggest, would make them excellent hedge funders.
“Wrestlers are tenacious, hard-working, no-nonsense, tough SOBs,” Novogratz told The Observer.
Encouraging the city’s wrestling youth to learn these skills is the Keystone of Novogratz’s Beat the Streets program.
“Wrestling develops toughness and confidence,” Novogratz told The Observer. “It’s not bravado, it’s from working your butt off. The dieting that goes into making weight alone takes so much will. I thought, if we can put that into the inner city, it can be a cheap way to have a transformative effect on a lot of lives.”
Could teaching kids how to be top-notch hedge funders be the key to beating the streets?
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