How I Started from $0 and Created Billions
Kosher Money
Living Lchaim
5 • 781 Ratings
🗓️ 12 February 2025
⏱️ 69 minutes
🧾️ Download transcript
Summary
Business is about solving problems—and Edward Kholodenko has spent his life doing just that. From his early years facing discrimination in the Soviet Union to immigrating to Canada and navigating failed ventures, Edward’s journey is one of relentless resilience.
In this episode of Kosher Money, he shares how he built Questrade, one of Canada’s leading trading platforms, overseeing over $60 billion in assets. But his story isn’t just about wealth—it’s about adaptability, faith in God, and finding opportunities in crisis. How did a failed computer business in Ukraine shape his future success? What financial mistakes do most people make? How did he navigate market crashes, the 2008 financial crisis, and the rise of AI? What’s his best advice for new investors and entrepreneurs? Whether you’re an aspiring entrepreneur, a seasoned investor, or someone looking for smart financial insights, this episode is packed with wisdom, lessons, and real-world strategies to help you succeed. Watch now and learn how to build, grow, and take control of your financial future!
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TIME STAMPS:
00:00 Intro
01:24 Edward’s Early Life In The Soviet Union
03:02 Moving to Toronto 04:25 Did You Grow Up Religious?
06:00 Edward's (Growing) Beard
06:48 His First Business Venture in 1991
11:00 The Fall of the Soviet Union
14:35 10,000% Inflation
14:52 Getting Married & Back to Canada
15:54 The Russian Ruble Crisis
16:45 BitBean
17:43 The Donors' Fund
19:31 A Godly Pattern in Edward's Life
20:03 The Impact Of 9/11 On The Business
20:40 The Start of Questrade
26:04 The First Few Years of Questrade
32:28 Another Business Hurdle
34:10 The Effect of Success
37:09 Best Practices for Business Owners
38:37 The Value of Time
39:24 Starting a New Business
41:00 Twillory
42:16 Colel Chabad - Help Israel
43:41 How to Impact Culture in a Biz
45:55 "Can I Steal a Few Minutes?"
46:26 His Advice for Wealthier Families
49:16 Where Edward Sees Opportunities Now
51:51 Trading in the Markets
54:35 Hidden Fees, Crypto, Risks, Oh My!
57:45 Human Advisors vs. Computers & AI
59:12 How Edward Manages His Phone
1:00:27 What's Your Dream, Edward?
1:02:00 His Torah Learning 1:05:40 Contest, Winners & Outro
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Transcript
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| 0:00.0 | And I always tell people that your business is only going to be successful if you figure out how to help others. |
| 0:05.7 | That's what business is all about. |
| 0:07.3 | All a business is about helping other people. |
| 0:10.2 | And you've got to figure out what is the big problem that they have and how you're going to help them solve. |
| 0:15.7 | From an early age, Edward Caldenko's life was shaped by circumstances beyond his control. Born in the Soviet Union, |
| 0:22.6 | he grew up in a system that discriminated against Jews, limiting their opportunities and restricting their futures. |
| 0:28.6 | His family's decision to leave, uprooting their lives in search of freedom, which shaped his relentless drive to build something of his own. |
| 0:34.6 | From a young immigrant in Toronto with big dreams to a failed first |
| 0:38.4 | business venture selling computers in Ukraine, Caledenko's journey was anything but conventional. |
| 0:43.2 | Yet, through a mix of resilience and risk-taking, he would go on to create Quest Trade, |
| 0:47.7 | a Canadian trading platform that today oversees $60 billion in assets under administration. |
| 0:53.7 | So, how did he accomplish this after so much adversity? |
| 0:56.5 | What does he know about money that most others don't? |
| 0:59.1 | And what does he believe is the biggest financial estate people make? |
| 1:02.5 | This is the story of Edward Caledenko, an entrepreneur who saw opportunity where others saw |
| 1:07.8 | crisis. |
| 1:08.2 | And he built a multi-billion dollar company along the way. |
| 1:14.6 | Being a Jew, awesome. Managing personal finances, not so awesome. Welcome to kosher money. |
| 1:23.6 | We're here with Edward Caledenko. Did I pronounce the last name, correct? |
| 1:28.3 | Correct. |
| 1:29.3 | Okay, good. Edward, tell us, way back when, we'll start from the beginning. Where were you born, and what was it like growing up? |
| 1:37.3 | So I was born in the Soviet Union, what was then the Soviet Union. Today it's known as Ukraine, Kiev, Ukraine, way back when, and that was the first |
... |
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