January 23, 2023

An amazing story: Edward Avedisian, a clarinetist who made $100 million on the side

Edward Avedisian played with the Boston Pops for 35 years and the Boston Ballet Orchestra for 43 seasons, performing with Aerosmith, Whitney Houston, Tony Bennett, Luciano Pavarotti, Leontyne Price, and Big Bird from Sesame Street over the years. He earned a modest salary, however, last year he has donated $100 million to he to Boston University. Unbeknownst to many, Avedisian found stunning success through his personal investments, turning the modest salary of a musician into a fortune. He was self-taught as an investor, reading books and Investor’s Business Dailyand regularly watching CNBC and Bloomberg for tips. Avedisian was a buy-and-hold investor, focusing on initial public offerings (IPOs) and taking a lot of risk by buying on margin. His secret was - “success is the intersection of opportunity and preparation”. Avedisian died late last year. Boston University Today has the story.