Discussion in 'Wall St. News' started by Thunderdog, Apr 14, 2009.
These people earned it.
The shares of stock in their companies only lost from 80% to 94% of their value.
??? -Not one of these guys works for a bank or public company. I have no problem with an entrepeneur starting a venture and taking a percentage of my profits (20%) as pay. These guys funds were positive in a year when the mkt was off 45%. They are traders. Bruce Kovner was one of the all-time best in the energy pits.
On the other hand, I get seriously irked when I buy a new computer and I have to pay Bill Gates $400 for MSFT's Office product, when I have bought it for previous computers like 8 times. Or, paying Mike Bloomberg $2600/mo for something others charge $160/mo for. (I no longer pay Bloomberg, value-added is not nearly there for that cost anymore).
All of highest earners on this list are hedge fund managers who I would not consider being part of Wall Street.
Tide, Microsoft is moving away from charging hundreds for their software to a subscription based model. It remains to be seen if people will enbrace this new model.
Thanks Kreme, About time, Bill is softening as he gets older and more philanthropic maybe? Back to the Hedge guys, a very large percentage of their pay and personal wealth must go right back into the fund as per contractual obligation. Its a job that pays very well if you are good at it, but as many learned last year, is brutal if you are not. You not only don't get paid, but you lose up to 50%+ of your net worth in a year like '08. (Many are actually levered and lost much more). Tough year's 'work', - not crying for them personally though.
What are you, a commie? If you don't want to pay then don't pay: you have no right to be irked.
Don't want to pay for MS Office? Then don't order the PC with it on there. Yes, you can get them w/o the license. Just use your old version.
I assumed it was Blankfein, Dimon, et al., without clicking on the link. My bad.
All 20 are hedge fund managers. I could care less. Let them make as much as the market will bear since they're not taking taxpayer money, but money from clients dumb enough to pay them 2/20 or 4/40.
Economic darwinism - paying some guy 22% to 44% of whatever gains you see in a good year, and paying them a flat rate even when he loses a ton of money.
Separate names with a comma.