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KHufford
6502 Posts |
 Posted - 04/16/2008 : 10:11:55 PM
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This is why you got your 100M deal declined: They dont LOSE money...well some do, but not this one.
Hey, SeanWright!...you only made 1 mill last year!? How would you like to make $10 Million PER DAY! Loser...
How would you like to make $300 Million..... A MONTH???
NEW YORK (CNNMoney.com) -- Hedge fund manager John Paulson of Paulson & Co. took home $3.7 billion last year, making him the biggest earner in the industry, according to Alpha Magazine.
Alpha's annual survey of hedge fund pay found that the top five fund managers - Paulson, George Soros of Soros Fund Management, James Simons of Renaissance Technologies Corp., Philip Falcone of Harbinger Capital Partners and Kenneth Griffin of Citadel Investment Group - each made more than $1.2 billion. That's about the price JPMorgan Chase (JPM, Fortune 500) paid to acquire troubled Wall Street firm Bear Stearns (BSC, Fortune 500).
Alpha's survey took into account each manager's share of their firm's performance and management fees, as well as personal capital gains, and did not include any benefit from the sale of a firm or an initial stock offering.
Fund managers are enjoying massive paydays at a time when financial markets are in turmoil and millions of homeowners face foreclosure. As a result, hedge funds are likely to draw the ire of Congress and face more regulation in the future, the magazine said. |
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rtrefflich
3909 Posts |
Posted - 04/16/2008 : 10:17:34 PM
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| Wow, someone told me that today and I did not believe him, I just thought that was too much money for someone to make, but I guess not. Maybe I should look into that business. When I was about 19 I wrote up a bunch of goals and managing my own mutual fund was one of them. |
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KHufford
6502 Posts |
Posted - 04/16/2008 : 10:27:26 PM
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quote:
Originally posted by rtrefflich
Wow, someone told me that today and I did not believe him, I just thought that was too much money for someone to make, but I guess not. Maybe I should look into that business. When I was about 19 I wrote up a bunch of goals and managing my own mutual fund was one of them.
Yeah but mutual funds dont make jack compared to actual hedge funds...
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Quicksilver
4840 Posts |
Posted - 04/16/2008 : 10:37:03 PM
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| I've been following him over the last year, he was basically the only one to truly call the downfall and act on it going the opposite direction everyone else was while they were trying to make moves as if the industry was going to continue to go up and up etc. Whats sad is anyone that was a fund manager could have easily done the same (not seeing what would happen is just retarded) and setup funds against housing, yet he was one of the few betting against RE |
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neversaynever
1044 Posts |
Posted - 04/16/2008 : 10:47:30 PM
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| I read this today, dear god its so sick how overpayed these guys are. 4billion in one year makes me want to vomit. Wheres the money coming from? Someone's got to be loosing and its the rest of the world. |
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KHufford
6502 Posts |
Posted - 04/16/2008 : 10:50:58 PM
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quote:
Originally posted by neversaynever
I read this today, dear god its so sick how overpayed these guys are. 4billion in one year makes me want to vomit. Wheres the money coming from? Someone's got to be loosing and its the rest of the world.
Its not even comprehendable...
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FLMike
519 Posts |
Posted - 04/17/2008 : 12:28:03 AM
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And Jim Cramer says that Mortgage Brokers are bad guys, LMFAO!!! Keep in mind that Cramer was a hedge fund manager for years and call Mortgage Brokers "Clowns", what Richard Weed *** wipe.
quote:
Originally posted by KHufford
This is why you got your 100M deal declined: They dont LOSE money...well some do, but not this one.
Hey, SeanWright!...you only made 1 mill last year!? How would you like to make $1 Million PER DAY! Loser...
How would you like to make $30 Million..... A MONTH???
NEW YORK (CNNMoney.com) -- Hedge fund manager John Paulson of Paulson & Co. took home $3.7 billion last year, making him the biggest earner in the industry, according to Alpha Magazine.
Alpha's annual survey of hedge fund pay found that the top five fund managers - Paulson, George Soros of Soros Fund Management, James Simons of Renaissance Technologies Corp., Philip Falcone of Harbinger Capital Partners and Kenneth Griffin of Citadel Investment Group - each made more than $1.2 billion. That's about the price JPMorgan Chase (JPM, Fortune 500) paid to acquire troubled Wall Street firm Bear Stearns (BSC, Fortune 500).
Alpha's survey took into account each manager's share of their firm's performance and management fees, as well as personal capital gains, and did not include any benefit from the sale of a firm or an initial stock offering.
Fund managers are enjoying massive paydays at a time when financial markets are in turmoil and millions of homeowners face foreclosure. As a result, hedge funds are likely to draw the ire of Congress and face more regulation in the future, the magazine said.
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mortgagemessiah
8003 Posts |
Posted - 04/17/2008 : 06:52:32 AM
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| Hey, what do you expect? 95% of the wealth in this country is controlled by the wealthiest 5%. |
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 07:39:35 AM
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over paid? why would you say that? if this guy was wrong, he would have taken a beating of epic proportions. risk = reward.
the thing that kills me is that he is 39 years old. im not that far away, and as i stand right now, i cant see myself in a position to make that kind of loot in 9 years. i gotta harpen up i guess. |
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KHufford
6502 Posts |
Posted - 04/17/2008 : 07:41:54 AM
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quote:
Originally posted by Scrooge McDuck
over paid? why would you say that? if this guy was wrong, he would have taken a beating of epic proportions. risk = reward.
the thing that kills me is that he is 39 years old. im not that far away, and as i stand right now, i cant see myself in a position to make that kind of loot in 9 years. i gotta harpen up i guess.
He personally profited MORE than most companies...even large ones.
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shizah
509 Posts |
Posted - 04/17/2008 : 08:12:38 AM
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Ken Griffin of Citadel is a machine. That guy has made some crazy money in the last 3 years. He started is company by launching a couple of funds out of his dorm room while in college.
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 08:16:03 AM
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quote:
Originally posted by KHufford
quote:
Originally posted by Scrooge McDuck
over paid? why would you say that? if this guy was wrong, he would have taken a beating of epic proportions. risk = reward.
the thing that kills me is that he is 39 years old. im not that far away, and as i stand right now, i cant see myself in a position to make that kind of loot in 9 years. i gotta harpen up i guess.
He personally profited MORE than most companies...even large ones.
i say, "good job to that guy."
i only hope i too can get a great idea which i can profit more then a company on. and i would not consider myself over paid, just paid. |
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jb060310
355 Posts |
Posted - 04/17/2008 : 08:43:16 AM
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| He was in Parade magazine this last Sunday, in the issue disclosing how much people make. Can't judge a book by the cover, obviously, but the pic in the magazine made him look like a scatterbrained crackhead. I think that I would never work another day for the rest of my life, unless drinking on a beach is work. |
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 08:47:08 AM
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quote:
Originally posted by jb060310
He was in Parade magazine this last Sunday, in the issue disclosing how much people make. Can't judge a book by the cover, obviously, but the pic in the magazine made him look like a scatterbrained crackhead. I think that I would never work another day for the rest of my life, unless drinking on a beach is work.
dudes like him will work til they drop of a heart attack. and his heart attack will probably come from trying to get his 20th or 30th billion. |
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clarenceworley
4360 Posts |
Posted - 04/17/2008 : 08:54:13 AM
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| Makes you want to go back to school and do really well, get an MBA from Harvard Business School. |
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bankwalker
156 Posts |
Posted - 04/17/2008 : 08:54:33 AM
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"Hedge Funds" are actually improperly named.
They should maybe be named "Unregulated Risk"
funds or something similar. If they were truly
hedged the risk would be controlled and so
would the return.
These people (hedge fund managers) make big
bucks because of the investment DECISIONS
that they make for other people (their clients)
that have funds to invest but don't have the
time or expertise to do it themselves. They pay
the fund manager to make those decisions for them.
In a transaction where one person willingly pays
another to perform a legal service for them, why
would anyone care how much the client pays the
provider to perform a service for them that they
could but are unwilling to perform for themselves?
Just wonderin'.
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clarenceworley
4360 Posts |
Posted - 04/17/2008 : 09:15:05 AM
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quote:
Originally posted by bankwalker
"Hedge Funds" are actually improperly named.
They should maybe be named "Unregulated Risk"
funds or something similar. If they were truly
hedged the risk would be controlled and so
would the return.
These people (hedge fund managers) make big
bucks because of the investment DECISIONS
that they make for other people (their clients)
that have funds to invest but don't have the
time or expertise to do it themselves. They pay
the fund manager to make those decisions for them.
In a transaction where one person willingly pays
another to perform a legal service for them, why
would anyone care how much the client pays the
provider to perform a service for them that they
could but are unwilling to perform for themselves?
Just wonderin'.
Same reason people whine about salaries for athletes.
For some reason, the public can understand why rock stars and actors-some with little actual talent, and some with alot of talent do make alot of money. |
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 09:16:06 AM
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| he made $3.9bil, how mauch did his fund make? how much did his clients make? |
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bankwalker
156 Posts |
Posted - 04/17/2008 : 09:18:26 AM
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I don't know or care. That is between
the manager and the client.
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diesel350
572 Posts |
Posted - 04/17/2008 : 09:32:41 AM
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quote:
Originally posted by Scrooge McDuck
over paid? why would you say that? if this guy was wrong, he would have taken a beating of epic proportions. risk = reward.
the thing that kills me is that he is 39 years old. im not that far away, and as i stand right now, i cant see myself in a position to make that kind of loot in 9 years. i gotta harpen up i guess.
Are you talking about John Paulson? If so, he is 51 not 39 |
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KHufford
6502 Posts |
Posted - 04/17/2008 : 09:36:07 AM
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quote:
Originally posted by jb060310
He was in Parade magazine this last Sunday, in the issue disclosing how much people make. Can't judge a book by the cover, obviously, but the pic in the magazine made him look like a scatterbrained crackhead. I think that I would never work another day for the rest of my life, unless drinking on a beach is work.
He probably IS on crack, or coke....
If you are making $1 Million dollars a day there is no other way...one man wrecking crew of cash...not like he is going golfing at noon, its gotta be a crazy ass day fro him everyday.
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 09:38:41 AM
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quote:
Originally posted by diesel350
quote:
Originally posted by Scrooge McDuck
over paid? why would you say that? if this guy was wrong, he would have taken a beating of epic proportions. risk = reward.
the thing that kills me is that he is 39 years old. im not that far away, and as i stand right now, i cant see myself in a position to make that kind of loot in 9 years. i gotta harpen up i guess.
Are you talking about John Paulson? If so, he is 51 not 39
i guess im mixing up people then. there was a 39 year old that played this market and made bils too. |
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rtrefflich
3909 Posts |
Posted - 04/17/2008 : 09:39:19 AM
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Trust me, if he made 3.9 bil the fund made a lot more and his clients are not complaining, the only ones complaining are the people that think it is unfair or unjust that he makes this kind of money. His worth is in what he can do, and if he made tons for his clients, he is entitled to make tons for himself as well
quote:
Originally posted by Scrooge McDuck
he made $3.9bil, how mauch did his fund make? how much did his clients make?
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diesel350
572 Posts |
Posted - 04/17/2008 : 09:46:45 AM
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quote:
Originally posted by rtrefflich
Trust me, if he made 3.9 bil the fund made a lot more and his clients are not complaining, the only ones complaining are the people that think it is unfair or unjust that he makes this kind of money. His worth is in what he can do, and if he made tons for his clients, he is entitled to make tons for himself as well
quote:
Originally posted by Scrooge McDuck
he made $3.9bil, how mauch did his fund make? how much did his clients make?
Damn I just wish I had the money to invest with him. I bet he made his clients millions. |
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Scrooge McDuck
9793 Posts |
Posted - 04/17/2008 : 09:50:14 AM
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quote:
Originally posted by rtrefflich
Trust me, if he made 3.9 bil the fund made a lot more and his clients are not complaining, the only ones complaining are the people that think it is unfair or unjust that he makes this kind of money. His worth is in what he can do, and if he made tons for his clients, he is entitled to make tons for himself as well
quote:
Originally posted by Scrooge McDuck
he made $3.9bil, how mauch did his fund make? how much did his clients make?
that was basically my point. i dont care how much the guy made. if his clients are happy, then it doent matter. |
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EMScommercial
5141 Posts |
Posted - 04/17/2008 : 10:12:15 AM
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I've been subscribing to Alpha.... Interesting - albeit DRY - reading....
I find it interesting the line with the 'congress' ire' in it.... so, hedge funds are making money - that's what they are designed to do.... worried about billions that are affecting every american? they should earnestly take on the american oil industry.... THAT affects everything we do in america....
off my soap box... |
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bankwalker
156 Posts |
Posted - 04/17/2008 : 10:20:20 AM
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Energy products are sold at auction to the highest bidder.
Our government is restricting supply, thus raising prices.
They are also making more on the products via taxation
than the oil companies.
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djorge44
1844 Posts |
Posted - 04/17/2008 : 10:32:17 AM
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I would rather the government cancel the gas tax, you are paying 18 cents a gallon to the feds, and probably similar to your state. I am paying another 15 cents to the state.
http://www.gaspricewatch.com/usgastaxes.asp
They should eliminate the gas tax |
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rtrefflich
3909 Posts |
Posted - 04/17/2008 : 11:54:26 AM
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They should cancel all taxes and go off of a value added tax, go read the book "the fair tax"
quote:
Originally posted by djorge44
I would rather the government cancel the gas tax, you are paying 18 cents a gallon to the feds, and probably similar to your state. I am paying another 15 cents to the state.
http://www.gaspricewatch.com/usgastaxes.asp
They should eliminate the gas tax
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bankwalker
156 Posts |
Posted - 04/17/2008 : 12:02:12 PM
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www.fairtax.org
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KHufford
6502 Posts |
Posted - 04/17/2008 : 12:06:52 PM
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quote:
Originally posted by neo-logic
I don't see why people are giving these high earners beef. They pay taxes and they didn't make the policies on how they're paid - just played the game and earned their billions.
I can hit that when I'm 39.
What the hell are all you guys talking about? I dont think anyone here even said a peep about them "making too much"....all I said was damn thats alot of cash, go get em SeanWright!
Stop whining and saying we are complaining nobody said anything like that, geez.
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mortgagemessiah
8003 Posts |
Posted - 04/17/2008 : 12:09:23 PM
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quote:
Originally posted by KHufford
quote:
Originally posted by neo-logic
I don't see why people are giving these high earners beef. They pay taxes and they didn't make the policies on how they're paid - just played the game and earned their billions.
I can hit that when I'm 39.
What the hell are all you guys talking about? I dont think anyone here even said a peep about them "making too much"....all I said was damn thats alot of cash, go get em SeanWright!
Stop whining and saying we are complaining nobody said anything like that, geez.
These guy probably pay no more than $40k in taxes |
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brianconner
354 Posts |
Posted - 04/17/2008 : 12:13:19 PM
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quote:
Originally posted by KHufford
This is why you got your 100M deal declined: They dont LOSE money...well some do, but not this one.
Hey, SeanWright!...you only made 1 mill last year!? How would you like to make $1 Million PER DAY! Loser...
How would you like to make $30 Million..... A MONTH???
NEW YORK (CNNMoney.com) -- Hedge fund manager John Paulson of Paulson & Co. took home $3.7 billion last year, making him the biggest earner in the industry, according to Alpha Magazine.
Alpha's annual survey of hedge fund pay found that the top five fund managers - Paulson, George Soros of Soros Fund Management, James Simons of Renaissance Technologies Corp., Philip Falcone of Harbinger Capital Partners and Kenneth Griffin of Citadel Investment Group - each made more than $1.2 billion. That's about the price JPMorgan Chase (JPM, Fortune 500) paid to acquire troubled Wall Street firm Bear Stearns (BSC, Fortune 500).
Alpha's survey took into account each manager's share of their firm's performance and management fees, as well as personal capital gains, and did not include any benefit from the sale of a firm or an initial stock offering.
Fund managers are enjoying massive paydays at a time when financial markets are in turmoil and millions of homeowners face foreclosure. As a result, hedge funds are likely to draw the ire of Congress and face more regulation in the future, the magazine said.
I think the key here is the last sentence. Congress HATES success, and penalizes you for it. Do you have any idea of the taxes he's generating for the State in which he files? He's probably funding the entire school district alone! I wish he was here in CA, where we could use some big tax payers like him, our public schools are pathetic.
Ain't nothing wrong with making $, even BIG $. |
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jlmandl
142 Posts |
Posted - 04/17/2008 : 12:16:39 PM
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| The way these guys are paid is that they get a small upfront amount of assets under management say 2-5% and then get a certain percentage of profits ranging from 30-40%. The really big deal with this is that because all those profits are realized over longer terms as dividend income the taxes on it are as of right now only 15% as a capital gain. So instead of that guy paying 40+% of that 3.7 billion in tax he will only pay 15%. So that loosely translates into taking would would normally be 1.665 billon in taxes down to 555 million. Huge savings of 1.11 billion. To bad we can all be paid that way. |
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clarenceworley
4360 Posts |
Posted - 04/17/2008 : 12:36:58 PM
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| Overpaid, not overpayed. Losing, not loosing. Just an FYI. |
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BrokerCA
2431 Posts |
Posted - 04/18/2008 : 1:57:51 PM
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quote:
Originally posted by KHufford
Hey, SeanWright!...you only made 1 mill last year!? How would you like to make $1 Million PER DAY! Loser...
How would you like to make $30 Million..... A MONTH???
$3.7 Billion is $10 million a day and $300 Million a month.
His fund ended 2007 with $28 billion in assets, up from $6 billion at the start. He charges 1% management fee and 20% of profits. He recently listed his three-acre Hamptons estate for $19.5 million, twice what he paid for it two years ago, and he is moving up to a $41.3 million 10.4-acre spread in the same neighborhood. |
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KHufford
6502 Posts |
Posted - 04/18/2008 : 2:13:36 PM
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quote:
Originally posted by BrokerCA
quote:
Originally posted by KHufford
Hey, SeanWright!...you only made 1 mill last year!? How would you like to make $1 Million PER DAY! Loser...
How would you like to make $30 Million..... A MONTH???
$3.7 Billion is $10 million a day and $300 Million a month.
His fund ended 2007 with $28 billion in assets, up from $6 billion at the start. He charges 1% management fee and 20% of profits. He recently listed his three-acre Hamptons estate for $19.5 million, twice what he paid for it two years ago, and he is moving up to a $41.3 million 10.4-acre spread in the same neighborhood.
I am an idiot...YES, that is even crazier!
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kavehlend
167 Posts |
Posted - 04/18/2008 : 2:39:25 PM
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$3.9 billion? Makes me wish I was a fly on the wall in his office to watch him work.
More power to him. |
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brianconner
354 Posts |
Posted - 04/18/2008 : 2:46:20 PM
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| If I made crazy $ like that, it would just be more for my wife to spend! |
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monkeyandme
174 Posts |
Posted - 04/18/2008 : 3:15:39 PM
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quote:
Originally posted by brianconner
If I made crazy $ like that, it would just be more for my wife to spend!
Ditto, I'd have to boy a warhouse just for the damn shoes.
More power to him. |
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