Billion dollar?!

[JS80]

Originally posted by: jpeyton

Originally posted by: senseamp
I hope they paid $400M in taxes on that $1B. Other than that, if the investors in those hedge funds want to give $1B to someone to manage their money, more power to them. It's rich giving money to the rich, and throwing a nice tax bone to everyone else in the process.

Tax shelters FTW!

You can't tax shelter straight wage/earnings, mostly investment income. I assure you 40% of his earnings was stolen by us (the government).

It's so funny how all you guys talk shvt about hedge funds and people who make obscene amounts of money. If you can generate $10 billion in profit, you will also be a billionaire.

 

[JS80]

Originally posted by: fisheerman

Originally posted by: Flyback

Originally posted by: toolboxolio
Our country makes me sicker every day.

I was just watching an "ESPN classic" show on auto auctions where 100's of millionaires (mostly from investment firms) were spending ~$500k to ~$ 2.5 million on random ****** cars..... and nobody knows of these "richers."

Makes you think twice when you talk ****** about Bill Gates.... who drives a ford taurus and donates ~half his money to the povert.

It makes you sick? Why? Because other people are too lazy to go out and get things done compared to these fine examples ?

It's their money--let them do as they please. Contrary to popular belief, there is no one in your country that starves to death because these people make insane amounts of money. No one is deprived a meal unless they reject it themselves.

remember though money isn't created it is transferred from one place to another
they haven't figured out how to plant money trees. When they make this "insane" amount of money it is coming from somebody. I think the poster was just saying that this mass accumulation is what is hurting others.

wow you are so stupid. i mean borderline retarded. the economy is NOT a zero sum game. money IS created. WEALTH IS CREATED. take economics you ****** tool.

 

[imported_Tango]

Originally posted by: JS80

Originally posted by: fisheerman

Originally posted by: Flyback

Originally posted by: toolboxolio
Our country makes me sicker every day.

I was just watching an "ESPN classic" show on auto auctions where 100's of millionaires (mostly from investment firms) were spending ~$500k to ~$ 2.5 million on random ****** cars..... and nobody knows of these "richers."

Makes you think twice when you talk ****** about Bill Gates.... who drives a ford taurus and donates ~half his money to the povert.

It makes you sick? Why? Because other people are too lazy to go out and get things done compared to these fine examples ?

It's their money--let them do as they please. Contrary to popular belief, there is no one in your country that starves to death because these people make insane amounts of money. No one is deprived a meal unless they reject it themselves.

remember though money isn't created it is transferred from one place to another
they haven't figured out how to plant money trees. When they make this "insane" amount of money it is coming from somebody. I think the poster was just saying that this mass accumulation is what is hurting others.

wow you are so stupid. i mean borderline retarded. the economy is NOT a zero sum game. money IS created. WEALTH IS CREATED. take economics you ****** tool.

He was in fact correct. Not about the economy, but financial markets are in fact zero-sum.
For every trade you make there is the other side. If you buy an option, somebody somewhere was holding it before you. It's even more evident now that virtually all trade are placed on a derivative base.

Probably you think hurting as a direct negative impact on somebody. In fact it's a zero-sum game just because every time you buy and hold an appreciating security the seller is losing those returns he would have made if he had instead kept it. Every time you buy and hold a depreciating security the lesser has avoid the loss you are incurring now.

Financial markets are incomplete representations of an economy (nor they should be complete). The fact that money is created by central banks does not affect the rules of financial markets gain/losses, as every individual is subject to the same monetary policies.

 

[Special K]

Originally posted by: 3cho

Originally posted by: Garet Jax
Why would he ever work again?

because that's the way these people find value in themselves. they are defined by how much money and wealth they can accumulate and generate.

Do you (the collective "you" of ATOT, not you in particular) think that's a good way to define yourself?

 

[toolboxolio]

Originally posted by: Special K

Originally posted by: 3cho

Originally posted by: Garet Jax
Why would he ever work again?

because that's the way these people find value in themselves. they are defined by how much money and wealth they can accumulate and generate.

Do you (the collective "you" of ATOT, not you in particular) think that's a good way to define yourself?

If I screw more women than a billionaire... I feel that I did better in life.

Nature doesn't recognize money.... only how much "stank" you got on your man-tool.

So, I gotta say I am more successful than all of these hedgehogs or whatever the fvck you want to call these tools.

 

[sdifox]

I say good for them, they earned it. The government should just hand over its money to the top guy, deficit problem solved

 

[crownjules]

Originally posted by: fisheerman
remember though money isn't created it is transferred from one place to another
they haven't figured out how to plant money trees. When they make this "insane" amount of money it is coming from somebody. I think the poster was just saying that this mass accumulation is what is hurting others.

Wealth is constantly being created/destroyed. Wealth is not a static, limited resource in our world. That's why you hear phrases such as "billions of dollars of wealth was eliminated in the market crash today", such as the one that happened back in February. When you hold a stock and it goes up, wealth is being created. That money isn't coming out of someone elses pocket.

However, in commodity trading, you would be taking money out of someone else's pocket if you make gains. There is a strict 1-to-1 ratio there - if someone is buying an oil contract, someone must also be selling the same position. Whoever is right would be taking money from the other who is wrong.

So, I gotta say I am more successful than all of these hedgehogs or whatever the fvck you want to call these tools.

How about successful money managers? I'm not sure why these guys deserve the label hedgehog or tool. And I'm quite sure with all the money they have, they are fcuking some of the most beautiful women you can imagine. Just look at Donald Trump as an example.

 

[akubi]

Originally posted by: Minjin
Eddie Lampert and Ken Griffin I'm aware of and respect greatly. I never heard of James Simons.

lol if you never heard of simons and ren tech you are still green

 

[imported_Tango]

Originally posted by: crownjules

Originally posted by: fisheerman
remember though money isn't created it is transferred from one place to another
they haven't figured out how to plant money trees. When they make this "insane" amount of money it is coming from somebody. I think the poster was just saying that this mass accumulation is what is hurting others.

Wealth is constantly being created/destroyed. Wealth is not a static, limited resource in our world. That's why you hear phrases such as "billions of dollars of wealth was eliminated in the market crash today", such as the one that happened back in February. When you hold a stock and it goes up, wealth is being created. That money isn't coming out of someone elses pocket.

However, in commodity trading, you would be taking money out of someone else's pocket if you make gains. There is a strict 1-to-1 ratio there - if someone is buying an oil contract, someone must also be selling the same position. Whoever is right would be taking money from the other who is wrong.

So, I gotta say I am more successful than all of these hedgehogs or whatever the fvck you want to call these tools.

How about successful money managers? I'm not sure why these guys deserve the label hedgehog or tool. And I'm quite sure with all the money they have, they are fcuking some of the most beautiful women you can imagine. Just look at Donald Trump as an example.

It still is zero-sum. If you buy a stock and the price raise, the seller avoided a gain. Wealth is created from a financial perspective. From an economics perspective financial markets are indeed zero-sum.

 

[EKKC]

they have no life. they are money making machines that unfortunately do not know how to enjoy life

 

[vi edit]

Question about "hedge" funds...

Is one of the big appeals/advantages of a hedge fund the freedom of being able to swing and leverage positions in a quick amount of time (swings) as well as the ability to short positions and trade options for added income? It's certainly higher risk, but it's a much more liquid management style that isn't prohibited by laws/regulations.

A fund company like Vanguard/Janus/ect has to comply to very strict rules. They can't hold any more than XX% of any single company, they can't adjust their investment type %'s without sending out correspondance to shareholders, and they aren't allowed to short/trade options.

 

[dmcowen674]

Originally posted by: Flyback

The class envy on these forums is nuts. Anytime someone becomes extremely wealthy and successful they are villified like they plague mankind.

I'm not rich and villified like the plague of mankind.

 

[amish]

Originally posted by: Flyback
The class envy on these forums is nuts. Anytime someone becomes extremely wealthy and successful they are vilified like they plague mankind.

Take James Simons, one of the names mentioned in the article (the TOP earner, who earned 1.7 billion in 2006). He has a largely successful career in academia: cryptanalyst, mathematical physicist and PhD (at age 23 from Berkeley). He has also done more philanthropic efforts than everyone on this board combined with at -least- 38 million donated in 2006. He plans to spend $100 million, what will be the largest private investment in the field of autism research.

This guy is a genius. He is smart, an academic, and knows how to game the system. Furthermore he gives boatloads of it away. Why the hate for him around this forum?

ignorance. i've never heard of him, but i don't pay attention to that field and i really don't care about name dropping. i didn't know that he was such a philantrophist, but more power to him. i knew that if he could manage a hedge fund that he was probably smarter than me.

 

[imported_Tango]

Originally posted by: vi_edit
Question about "hedge" funds...

Is one of the big appeals/advantages of a hedge fund the freedom of being able to swing and leverage positions in a quick amount of time (swings) as well as the ability to short positions and trade options for added income? It's certainly higher risk, but it's a much more liquid management style that isn't prohibited by laws/regulations.

A fund company like Vanguard/Janus/ect has to comply to very strict rules. They can't hold any more than XX% of any single company, they can't adjust their investment type %'s without sending out correspondance to shareholders, and they aren't allowed to short/trade options.

Where's the question?

 

[Q]

Originally posted by: SZLiao214
I could never imagine making 1.7 billion dollars in a year or even a freaking lifetime. So does he get taxed for for like 550 million?

They have a way around that 550 million payment

 

[91TTZ]

Originally posted by: toolboxolio
Our country makes me sicker every day.

I was just watching an "ESPN classic" show on auto auctions where 100's of millionaires (mostly from investment firms) were spending ~$500k to ~$ 2.5 million on random ****** cars..... and nobody knows of these "richers."

Makes you think twice when you talk ****** about Bill Gates.... who drives a ford taurus and donates ~half his money to the povert.

1.Our country gives the opportunity that enables people to succeed.

2. Bill Gates gets to write off the donations on his taxes.

3. "povert"? Is it really so bad to say "poor"?