CONSTRUCTION: His Assets Are Truly Liquid

His Assets Are Truly Liquid

Howard Fields, 39, is making an outlandish splash in business. Three years ago, the Sausalito, Calif., entrepreneur plunged into the world of exotic- swimming-pool and -pond design. Now he is a leading creator of aquatic fantasies, with about 200 projects to his credit. Among them: a $3 million pool masquerading as a river that flows for the equivalent of six city blocks at a Puerto Rican resort. At Washington's Grand Hyatt Hotel, Fields is working on a $1 million, 3,000-sq.-ft. lake that will feature hundreds of live koi fish, 100-ft. waterfalls and a piano perched on an artificial island.

All that...

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