But when the market turned, and markets always turn, he and his clients were caught. Stuck in positions they couldn't unwind. The losses were huge. And the law suits which inevitably follow, were also huge. Multi-millions in losses were the result of this unbridled arrogance. And unfortunately, those lost fortunes were never recovered.

And in the nearly 50 years since, I've seen that type: The One Time Wall Street King, repeat over and over.