Fortune’s Soldier
MM: What is the most difficult situation you have found yourself?
YD: Being in a war and people shooting at me. A lot of people have been in that situation, you know? Years ago I was held up three times at gunpoint over a fairly short period. That was one of the reasons for my move to Beverly Hills. I have been through a lot. I’m not asking that you make a movie of my life, but you could do that.
MM: What else have you been through?
YD: I have been through many ups and downs like all people, but I am a survivor. I have had an exciting life, but I don’t like excitement. I like myself these days. I go to sleep early, start my day early with yoga. I also do Karate. When you have a hectic lifestyle, you must keep yourself in balance. Yoga and karate do that for me. You have to be on top of everything — mind body and spirit.
MM: Do you live your life and manage your business by adhering to a certain belief system.
YD: Yes. I believe in karma — big time. I’m a Kabbalist; I think that everything you do comes back to you, absolutely, if not in this life then possibly the next. When I first started out in the lending business, I always gave more than the opportunity offered even in contracts to the borrowers big and small. I have always had empathy for my clients. Sometimes it would pay off, sometimes not. Karma-wise, I feel good about that. I’m fair and just in my business dealings. I still give the best broker lending rates in the country compared to my competitors. It is not just about the money. I have a great deal of return lending business because of that and the amount of discretion I use and show my clients.
In order to maintain my business growth, I have had to separate the two business institutions that I am well known for. Now, with the coming of my new building and locations at 249 South Beverly Drive in Beverly Hills, half of the premises will house a separate business for lending and borrowing against collateral, the other component will be my specialty, which is fine-art goods ranging from [paintings] by such notables as Picasso, Warhol, Cezanne, Hirst and Johns, and sculpture by Calder and Stella, just to name a few across the art landscape.
Sculpture, fine glass, anything to do with fine art is available through my collections. It all comes through my doors. I am looking forward to my new gallery space with great anticipation and the new directions my art department will take.
MM: Have you regretted any of the loans you’ve accepted or denied?
YD: I don’t regret things. I don’t regret anything. I have made a lot of mistakes in my life. I’m not the type of person to linger; I go on with my life. I make good loans and some bad loans, but I go on. There will always be a way of balancing out those loans. I make good choices with some risky people at times, but that is part of my empathic nature — giving the benefit of the doubt. Mostly it pays off. I believe things happen for a reason. And I don’t just work for money. I work at this because I have a passion for it.
MM: You have been working in this business for a long time; it must have been difficult at times. What motivated you to keep at it?
YD: You know what motivates me? It’s the deal. I love [to] deal. I [might not make any] money, but I have to try to make the deal. It’s intoxicating. I just sold a half-million-dollar watch, and the guy gave me a $5,000 commission. It’s nothing; believe me. One of my associates got upset with me. He said, “You’re killing the business.”
MM: What don’t people know about you that would help them understand who you are?
YD: You know, people think I am very tough, but I am not a tough guy. I’m very sensitive to people. I care what people are feeling and thinking. I like making people happy. And some people do not see that. Sometimes I try too hard. I like when people trust me. When people trust me, I will give them anything I can. When you trust, you get the best from me. The best deal!
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