David Tweed
Australian businessman
David Tweed is an Australian businessman who conducts a business of offering to buy securities at either below market value, or at a price that is above market value but via installments. Paying in installments can disadvantage the seller due to the time value of money. Tweed's business practices are controversial in some quarters and his success has attracted criticism from the media and the Australian Securities & Investments Commission. The federal government introduced legislation to regulate Tweed's activities.
Early and personal life
Born as David Tschernitz, Tweed is the son of Austrian migrants. He was born and raised in the inner Melbourne suburb of Footscray. He was educated at Penleigh and Essendon Grammar School and graduated from RMIT with a degree in accounting. Tweed's first and only job was as a runner then floor trader and then adviser for brokerage firm, McKinley Wilson, and according to Peter MacLaren (Dec'd), his former boss, he changed his surname to Tweed after he was promoted to the trading room. It transpired that Tweed had assumed the same name as a former business journalist and later sharemarket analyst who had an extended working stay in Europe. His original house doubled as his office and was in Roden Street, West Melbourne, however he has since moved into the Melbourne central business district.
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