The Man Who Made $3.5 Billion Last Year

[dmcowen674]

5-18-2014

http://www.fool.com/investing/gener...-thing-to-learn-from-the-man-who-made-35.aspx

The Man Who Made $3.5 Billion Last Year



Think professional athletes get paid a lot? Wait until you learn what hedge fund managers made last year, and how one of them did it.


David Tepper of Appaloosa Management, led the way for a second year in a row, with a paycheck of $3.5 billion.


In total, he's made a staggering $5.7 billion over the last two years alone, continuing a remarkable run since 2009 in which his net worth skyrocketed from $3 billion to $10 billion.


And while Tepper isn't yet a household name like Warren Buffett, there is one thing to learn which they both share.


One of Warren Buffett's better known quotes is:

Be fearful when others are greedy, and be greedy when others are fearful.

 

[dmcowen674]

So what jobs has this guy created with all that money?

I bet none and the money sits in overseas accounts untaxed by the U.S.

 

[Pulsar]

And what is your point?

He made money through investments. He just gets to play with a bigger checkbook than you or I.

 

[dmcowen674]

And what is your point?

He made money through investments. He just gets to play with a bigger checkbook than you or I.

A $10 billion checkbook.

Other than draining the economy what has he done with that money?

 

[Pulsar]

A $10 billion checkbook.

Other than draining the economy what has he done with that money?

Do you understand investing?

How did he drain the economy?

 

[JEDIYoda]

So what jobs has this guy created with all that money?

I bet none and the money sits in overseas accounts untaxed by the U.S.

who cares??

 

[drebo]

Do you understand investing?

How did he drain the economy?

Lower and middle class liberals don't understand investing, no. They think that all the money that investors put into the stock market just goes and sits somewhere doing nothing.

 

[dmcowen674]

Lower and middle class liberals don't understand investing, no. They think that all the money that investors put into the stock market just goes and sits somewhere doing nothing.

Do you have any proof he has done any good with that $10 billion.

 

[drebo]

Do you have any proof he has done any good with that $10 billion.

Do you have any proof he hasn't?

I mean, clearly, since he is apparently successfully managing his hedge fund, I'd imagine he has a large portion of his $10bn net worth invested somewhere, and it probably isn't in a bank.

 

[dmcowen674]

Do you have any proof he hasn't?

I mean, clearly, since he is apparently successfully managing his hedge fund, I'd imagine he has a large portion of his $10bn net worth invested somewhere, and it probably isn't in a bank.

Exactly. None of it contributing towards job creation or society.

Just another $10 billion squirreled away by the rich sapping the U.S. into oblivion.

 

[AdamantC]

Oh noes! Someone has more monies then Dave! To the Daveragemobile!

 

[Skyclad1uhm1]

Do you have any proof he hasn't?

I mean, clearly, since he is apparently successfully managing his hedge fund, I'd imagine he has a large portion of his $10bn net worth invested somewhere, and it probably isn't in a bank.

[Fox News mode]
For all we know he invested $9.5bn in getting nuclear material for Al Qaida to stage a huge attack with dirty bombs on the US. We're not saying that he has, but where is the proof that he hasn't? Can we trust him if we don't see proof that says otherwise?
[/Fox News mode]

A small group always will be getting very rich off economically tough periods. The danger is that for these people it's actually worthwhile to create more economic problems in order to gain more wealth. Many of them probably won't go that low, but some of them do.

 

[Matt1970]

Exactly. None of it contributing towards job creation or society.

Just another $10 billion squirreled away by the rich sapping the U.S. into oblivion.

Wow, you really are clueless as to how the economy works.

 

[Hayabusa Rider]

Oh noes! Someone has more monies then Dave! To the Daveragemobile!

Yeah that's pretty much it. There can be arguments (reasonable ones I think) against the increasing wealth disparity, however it's really about envy in this case. After he said that he would see the less fortunate hurt if he could get revenge on the Republicans for real or imagined wrongs I was done. It's about killing his neighbor's cow, not improving his and other's situation. Petty envy and revenge.

 

[Londo_Jowo]

Yet another "Boohoo, someone has money and I don't" thread by McOwned

 

[Rakehellion]

A $10 billion checkbook.

Other than draining the economy what has he done with that money?

Who cares? Someone made a lot of money and now they owe you a handout? Fuck off.

 

[z1ggy]

As long as this guy made his money through legal trades and investments.. Why should I care? Hell if he did, good for him. If he didn't, that's another story. He's also likely paying a lower tax rate than I am.. but I guess that's just how shit is these days. Getting worked up over it isn't going to change anything. Rich gunna be rich, poor gunna be poor.

 

[PricklyPete]

Is this another butthurt thread where you think you should have other people's stuff. Utter loser.

 

[Oldgamer]

5-18-2014

http://www.fool.com/investing/gener...-thing-to-learn-from-the-man-who-made-35.aspx

The Man Who Made $3.5 Billion Last Year



Think professional athletes get paid a lot? Wait until you learn what hedge fund managers made last year, and how one of them did it.


David Tepper of Appaloosa Management, led the way for a second year in a row, with a paycheck of $3.5 billion.


In total, he's made a staggering $5.7 billion over the last two years alone, continuing a remarkable run since 2009 in which his net worth skyrocketed from $3 billion to $10 billion.


And while Tepper isn't yet a household name like Warren Buffett, there is one thing to learn which they both share.


One of Warren Buffett's better known quotes is:

Be fearful when others are greedy, and be greedy when others are fearful.

Wolf of Wallstreet? Is that you??

 

[IndyColtsFan]

MCOWNED yet again.

 

[Genx87]

What a sad pathetic life you lead Dave.

 

[Newell Steamer]

So what jobs has this guy created with all that money?

I bet none and the money sits in overseas accounts untaxed by the U.S.

Plenty.

- the illegal immigrants he hires and pays in cash for construction, housekeeping, etc.
- the drug dealers he buys his drugs from, for his lavish parties
- the wait staff (made up of illegals as well) he hires for his lavish drug fueled parties, to serve coke, weed, pills and make sure his guests don't choke on their own vomit
- the call girls (boys?) he hires to fulfill his depraved sexual fantasies for him and his guests

Wow, that was fun! Now I know why the conservatives enjoy making up shit about the poor all the time!!

 

[shira]

The main issue I have with this particular situation is that Tepper's income as a hedge fund manager is probably being taxed at the 15% rate, which makes absolutely not sense at all, as he's not personally putting his own capital at risk when he directs investments for the hedge fund.

 

[rudder]

Exactly. None of it contributing towards job creation or society.

Just another $10 billion squirreled away by the rich sapping the U.S. into oblivion.

So I take it that money is under his mattress or something? I always though it might be in a bank or something. That way at least the money could be used by banks to give loans to growing businesses while earning the owner interest. But the mattress story sounds more plausible.

 

[WelshBloke]

Yeah that's pretty much it. There can be arguments (reasonable ones I think) against the increasing wealth disparity, however it's really about envy in this case. After he said that he would see the less fortunate hurt if he could get revenge on the Republicans for real or imagined wrongs I was done. It's about killing his neighbor's cow, not improving his and other's situation. Petty envy and revenge.

It's people like Dave (on both sides of issues) that stop a proper discussion happening.
It's far easier for political parties just to get groups of idiots shouting at each other rather than have an actual debate, find a course of action and try to solve a problem.