James Cagney: Professional “Againster”

By Phin Upham

James Cagney, who would later make multiple tours during World War II in order to boost morale for the troops, suited up as a costumed woman for his very first performance in 1919. He was in the revue Every Sailor, part of several years he spent as a vaudeville dancer and comedian. His first major gig didn’t come until 1925.

After that point, stage work was basically assured for the young star. He was booking performances on a regular basis, but the 1929 Penny Arcade is what got the attention of Warner Bros. They signed him $500 a week to begin with, but after recognizing his talent and potential that ballooned to a seven-year contract.

Cagney had several major films during his career. Public Enemy, a seedy gangster flick, showed Cagney’s dark side as he smashed a grapefruit on a co-star’s face. That moment made him one of Warner’s biggest contracts, and one of Hollywood’s greatest stars.

In 1938, Cagney received an Academy Award for Best Actor for his role in Angels with Dirty Faces. He played the role of the tough but simple-minded manchild, Rocky Sullivan. He was nominated a third time in 1955 for Love me or Leave Me, before retiring in 1961.

Over the course of his career, he’d walk out on Warner Bros. several times, each time to return in a better position than when he left. He was one of the first actors to beat a studio in contract negotiations, because he had the ability to go independent while his suits were settled.

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About the Author: Phin Upham is an investor at a family office/ hedgefund, where he focuses on special situation illiquid investing. Before this position, Phin Upham was working at Morgan Stanley in the Media and Telecom group. You may contact Phin on his Phin Upham website or Facebook page.