Sidney Harris Bio
Sidney Harris' story starts when he was just a young lad working for a stock market agency, which inspired him to start investing himself. After taking advantage of a bad situation during the stock market crash of 1987, Harris had a passion for taking risks.
He eventually transferred this passion to the racetrack and became a professional gambler who found himself to be extraordinarily lucky when it came to betting on horses. By the time Harris was ready to retire from the gambling world, he was a millionaire.
Other Pursuits before Gambling
Harris was born in the Soho sect of London, and that's where he spent the majority of his childhood. After he graduated from Fairweather Academy, he started working at the Regent Street Polytechnic of London in their shipping department.
Some of his co-workers sparked his interest in photography, and he eventually quit his job to dedicate several years of his life learning to appreciate the art of photography and developing the necessary skills to advance in a career as a photographer. Despite his passion for photography, he just wasn't making enough money to support himself and when he stumbled upon an advertisement in the newspaper that mentioned openings for stock brokers, he knew it was time for a corporate job.
Taking Advantage of the Infamous 1987 Stock Market Crash
Working in stocks was Harris' first experience in working closely with numbers and he spent hours researching and studying the stock market so that he could better assist his clients. It was during this time that Harris realized that if he was smart with his money and took the right risks at the right times, he could make a substantial amount of money.
On October 19th, 1987, better known today as Black Monday, was the day that Harris took advantage of the devastating stock market circumstances to reap the benefits of other people's misery. Financial experts working in the desks next to him had their eyes glued to the television that day, as they watched the market value seep lower and lower, realizing a lot of their clients would be out of a lot of money.
Harris knew it would the public would be quick to sell their stocks, so he started purchasing stocks for increasingly low prices left and right throughout the day, ultimately earning over $60,000 when all was said and done. He was one of the few people that actually benefited from the devastating events that occurred that day.
Jumping Over to a Life at the Racetrack
Harris now had a desire to take risks in regards to his finances, as he became addicted to the adrenaline rush you receive when risking a lot of money in hopes to make a significant profit. Harris used the money he earned from the Black Monday events and used it to bet on racehorses, mostly because when he was a photographer, horses was one of his favorite animals to capture in a photograph.
Harris wrote a gambling guide called, "Horse Racing, The Essential Guide to Backing Winners," which was published in 1999. The book is filled with valuable information that Harris had gathered over the next decade of his life which he spent horserace betting. One highlight of his book would be his, Five Fundamental Rules for Gambling, which are as follows:
Harris believes that by looking for a horse that either has none or few of the above weaknesses, that you'll be able to significantly narrow down your playing field, essentially saving you time and money. He knew the likelihood of finding a horse that is exempt from all of the above rules was very slim, but when he came across those opportunities, he knew he was almost guaranteed to win.
Through following the above rules, Harris managed to win millions of dollars from horserace betting alone. Luckily he noticed early on that his addictive personality could get him into trouble if he wasn't careful and after he became a millionaire, he slowly but surely started to restrain himself from going to the racetrack too often.
Later on in life, he published the book, "How to Stop Gambling Now," which takes a deeper look into the life of people that become addicted to gambling. He gives insider advice to help people resolve their issues and his book would also be beneficial to read if you are close to someone with addiction problems, as it helps you understand their mindset.
Author: Nicole Miller
Updated: Novemeber 2016