Latest news with #JohnCalamos
Yahoo
01-07-2025
- Business
- Yahoo
Self-made billionaire John Calamos says young people need to hustle — and have a mission in life — to be successful
John Calamos says young people need to work hard to succeed, but it's OK to change course in life. The billionaire investor and former Air Force pilot shared his advice for young people with BI. Calamos said that having a mission in life is vital, and wealth often comes as you work toward it. Self-made billionaire John Calamos says the road to success can be steep and winding, and wealthy parents should teach their kids that finding meaning in life trumps money. Calamos, 84, grew up in an apartment above his Greek-American family's grocery store, where he started working at a young age. He piloted jets during the Vietnam War before building his business empire. He's the founder of Calamos Investments, which manages assets worth more than $40 billion. Calamos, who published a biography, "The Sky's the Limit," in April, shared his advice for young people and parents with Business Insider. Calamos joined the military after taking to heart President John F. Kennedy's appeal for people to "ask not what your country can do for you; ask what you can do for your country." The convertible-bond pioneer has a similar message for graduates: "You don't get out of school now and say, 'OK, what is the government going to give me?'" he said. "It's not what the government's going to give you, it's what you can do." Calamos said that he was able to become wealthy despite modest beginnings by being "creative, innovative." Being determined and having goals are key to achieving great things, he added. In his book, he writes that young people shouldn't bow to pressure to specialize early, as he found value in a "more winding path." Calamos started off as an engineering student, studied philosophy, switched to architecture, graduated with a degree in economics, then later earned an MBA. "It's OK to change course as you learn more about yourself — what you truly care about and what ignites your passion," he writes. Calamos added that it's crucial to keep learning, stay curious, and look for better ways to do things at every stage of one's career. "This focus on continual improvement, innovation, and learning has been key to my own success," he writes. Calamos shared one of his biggest takeaways from his childhood and suggested how affluent parents might avoid raising entitled children. "What I learned from my parents was just a work ethic," he told BI. "They worked hard all the time." Calamos began working from a young age, first stocking shelves in his family's store, later delivering groceries and newspapers, washing windows, and more. A parent's job isn't to simply hand money to their children, it's to instill in them the values of hard work and perseverance, he added. He said that the message should be, "It's not about the money, it's about the mission — the money is a byproduct." Read the original article on Business Insider
Business Insider
01-07-2025
- Business
- Business Insider
Self-made billionaire John Calamos says young people need to hustle — and have a mission in life — to be successful
John Calamos says young people need to work hard to succeed, but it's OK to change course in life. The billionaire investor and former Air Force pilot shared his advice for young people with BI. Calamos said that having a mission in life is vital, and wealth often comes as you work toward it. Self-made billionaire John Calamos says the road to success can be steep and winding, and wealthy parents should teach their kids that finding meaning in life trumps money. Calamos, 84, grew up in an apartment above his Greek-American family's grocery store, where he started working at a young age. He piloted jets during the Vietnam War before building his business empire. He's the founder of Calamos Investments, which manages assets worth more than $40 billion. Calamos, who published a biography, "The Sky's the Limit," in April, shared his advice for young people and parents with Business Insider. Forge your own path Calamos joined the military after taking to heart President John F. Kennedy's appeal for people to "ask not what your country can do for you; ask what you can do for your country." The convertible-bond pioneer has a similar message for graduates: "You don't get out of school now and say, 'OK, what is the government going to give me?'" he said. "It's not what the government's going to give you, it's what you can do." Calamos said that he was able to become wealthy despite modest beginnings by being "creative, innovative." Being determined and having goals are key to achieving great things, he added. In his book, he writes that young people shouldn't bow to pressure to specialize early, as he found value in a "more winding path." Calamos started off as an engineering student, studied philosophy, switched to architecture, graduated with a degree in economics, then later earned an MBA. "It's OK to change course as you learn more about yourself — what you truly care about and what ignites your passion," he writes. Calamos added that it's crucial to keep learning, stay curious, and look for better ways to do things at every stage of one's career. "This focus on continual improvement, innovation, and learning has been key to my own success," he writes. Hard work and hustle Calamos shared one of his biggest takeaways from his childhood and suggested how affluent parents might avoid raising entitled children. "What I learned from my parents was just a work ethic," he told BI. "They worked hard all the time." Calamos began working from a young age, first stocking shelves in his family's store, later delivering groceries and newspapers, washing windows, and more. A parent's job isn't to simply hand money to their children, it's to instill in them the values of hard work and perseverance, he added. He said that the message should be, "It's not about the money, it's about the mission — the money is a byproduct."
Yahoo
29-06-2025
- Business
- Yahoo
Billionaire John Calamos says he's bullish on stocks and the economy — and won't follow Warren Buffett off stage yet
John Calamos told BI he's "pretty positive" about stocks and doesn't expect a recession. The billionaire investor said Trump's tariffs are causing uncertainty but could pay off long term. Calamos is in his mid-80s but has no plans to follow Warren Buffett in stepping down. John Calamos issued a cheery outlook for stocks and the economy, and ruled out following Warren Buffett in stepping down anytime soon. The stock market is "coming back very, very well, so I'm pretty positive on that," the billionaire founder and chief investor of Calamos Investments told Business Insider this week. The benchmark S&P 500 has rallied more than 23% from its April low to trade at record highs as of Friday morning. Technology stocks like Tesla and Nvidia may be trading at heady valuations, but Calamos said he doesn't see any parallels to past bubbles such as the dot-com boom, which ended with a devastating crash. Calamos said it's "very difficult to predict something like that's going to happen," so instead he focuses on setting up portfolios that provide protection against risks like that. The convertible-bond pioneer said he expects volatility and uncertainty in markets to persist for a while, in part because President Donald Trump's tariffs are clouding the global outlook. However, he expects those import taxes to eventually lead to better trade deals for the US that will be "positive, longer term." Calamos also said the Trump administration's fiscal policy is "going in the right direction." The president's "big, beautiful bill" — which is working its way through Congress — proposes significant tax cuts funded in part by reduced spending on entitlement programs. The veteran investor said he doesn't anticipate a recession, and inflation has "really come down," paving the way for more interest-rate cuts that promise to ease pressure on consumers and businesses and boost economic growth. Calamos started investing as a teenager, spent time working as a stockbroker, and quit to set up his own firm in 1977 after growing tired of being told what to do. Buffett took control of Berkshire Hathaway almost a decade earlier, in 1965. Calamos said the "Oracle of Omaha" was firmly on his radar. "Oh yeah, I respected him and what he was doing a lot," he said. Buffett, who turns 95 in August, announced in May that he intends to step down as CEO at the end of this year. Calamos said he doesn't plan to leave his post anytime soon. "Well, see, I'm not that old," he joked, pointing out that he's about a decade younger than Buffett. "I'm having a birthday next month, I'm going to call it the new 65." Read the original article on Business Insider Sign in to access your portfolio
