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Dodgers are heading to the playoffs as the richest team in the major leagues. Since then, he's kept right on spending. A hundred million for stadium improvements? Uh, OK. Why not? It's a stark contrast with the previous owner, Frank McCourt, who lived the high life while keeping the Dodgers on a tight budget. Walter has spent and spent and spent some more, and if he can buy a World Series, he'll be canonized — up there with the O'Malleys in the city's esteem.

Still, Walter remains a blank. Since , the year-old has been CEO of Guggenheim Partners, a sprawling enterprise that specializes in asset management, largely for insurance companies. Unusual for a company of its size, it is privately held, which means little is known about it beyond what Walter and his associates choose to say — and that's not much.

The company recently spun off a firm that is building mixed-use properties in London and has been rumored to have an interest in buying an English soccer team. However, some intriguing and, to some, troubling aspects of Guggenheim's holdings have emerged in insurance filings and in a class action lawsuit, which was filed and then mysteriously dropped last year.

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Though they offer a fragmentary look at the Guggenheim empire, they do offer fresh details about Walter's purchase of the team. Beginning in , Guggenheim bought three small and struggling insurance companies — and, in less than three years, restored them to such health that they could be tapped to invest in the costliest ever deal for a sports team.

In the insurance world, known for its understated stability, Guggenheim's flashy moves have raised some alarms.