Some bimbo wants a piece of the action... "Centaurusâs fee structure is 3-and-30. About half the fund is Arnoldâs own money. He is the sole owner of the firm. And â good gosh almighty, what a year â he even got hitched to a beautiful Houston lawyer." http://www.traderdaily.com/news/item/5449.html
I think a lot of the guys on this list would find a way - no matter what amount you gave them.... otoh - the guys who run the mutual funds who are paid according to the $$$ under management and are usually graded according to 'their' benchmark (usually S&P 500). So they look good in a down year as long as they were a bit better. Buy & hold fools who hope the market goes up. Seems like most spend their time on cnbc telling us how important it is to have a professional manage your money. :eek: I don't know that many of those guys even know what trading is ....
Von Mueffling is the best stock trader I've ever seen. Guy made doubles nearly every year he traded at Lazard. We're not talking a 1mm book here.
Its amazing that the country still puts up with people making those amounts of dollars and providing very little to help the general quality of life. Finance is finance. nothing more.
yes james its insane there should be a cap on earnings - never more than 10x minimum wages. what we get now is a lot of people staring at those kind of figures and trying to be on that list as well with no regards to their family, friends and wider community. grab grab grab.
Von Mueffling made 150mm last year. 20% performance fee. Somewhat more transparent than the cronyism that fills American boardrooms. Raymond and Irani receiving 400mm simply because crude rallied 4-fold in the last 15 years?
providing little?! surely, you must be joking. outside of massive charitable donations these guys make, every service person who works on their personal/business properties benefits from their income---this is just one small example of how these wealthy individuals help society. i suppose you would prefer the government to redistribute the capital, even more than it already does?? surf ps. perhaps this site would be more to your liking: http://www.socialistparty.org.uk/Links.htm