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The Man Who Made $3.5 Billion Last Year

D

dmcowen674

No Lifer
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.
 
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.
 
And what is your point?

He made money through investments. He just gets to play with a bigger checkbook than you or I.
 
Pulsar said:
Do you understand investing?

How did he drain the economy?
Click to expand...

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.
 
drebo said:
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.
Click to expand...

Do you have any proof he has done any good with that $10 billion.
 
dmcowen674 said:
Do you have any proof he has done any good with that $10 billion.
Click to expand...

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.
 
drebo said:
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.
Click to expand...

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.
 
drebo said:
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.
Click to expand...

[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.
 
AdamantC said:
Oh noes! Someone has more monies then Dave! To the Daveragemobile!
Click to expand...

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.
 
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.
 
dmcowen674 said:
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.
Click to expand...


Wolf of Wallstreet? Is that you??
 
dmcowen674 said:
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.
Click to expand...

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!!
 
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.
 
dmcowen674 said:
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.
Click to expand...

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.
 
Hayabusa Rider said:
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.
Click to expand...



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.
 
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