Forums / Off Topic / So how is your 401k doing?

6 years 9 weeks ago, 9:03 PM

samD

samD's picture

Rank:
President
Points:
15597
Join Date:
Aug 2008
Location:
Green Valley, Free State of Arizona, United States

Soros Makes Billions As Stocks Collapse

Thursday, March 26, 2009 9:09 AM

By: Greg Brown

George Soros has no worries about the global recession. He and a handful of others in the arcane and virtually unregulated world of hedge funds have made a bundle off the global recession.

“I'm having a very good crisis,” Soros says, quoted by the U.K. Daily Mail.

As the Obama administration sets its sets on reining in the industry, Soros and others literally made billions by taking contrarian bets against stocks.

As stocks fell in half, pension funds collapsed and millions of savers watched their 401(k)s founder, Soros made $1.1 billion last year.

“It is, in a way, the culminating point of my life’s work,” Soros told The Australian.

Institutional Investor’s Alpha magazine reports that the best-paid hedge fund managers were paid $11.6 billion last year, the third-best year on record, although down sharply from the $22.5 billion in paychecks they cashed in 2007.

Among the top earners (all are estimates):

• James Simons, Renaissance Technologies, $2.5 billion

• John Paulson, Paulson and Co., $2 billion

• John Arnold, Centaurus Energy, $1.5 billion

• George Soros, Soros Fund Management $1.1 billion

Even if you were pretty bad at running a hedge fund it was a good year, the magazine reported. Average take-home pay for the top echelon was $464 million and the average fund CEO packed away $2 million.

6 years 9 weeks ago, 9:59 PM

DEMO

DEMO's picture

Rank:
Lieutenant General
Points:
1285
Join Date:
Oct 2008
Location:
Hamburg, NY
Its a fucking Scam

Watch the Obama Deception. All through grad school I asked why? The answer was always becuase. Now I know. Soros got Obama elected and now reaps the benefits
The fix is in

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do
6 years 9 weeks ago, 12:56 AM

Anonymous

is the simple fix for all of these liberal,easy money schisters!they get richer while the american public continues to plumit into economic chaos.I am one of the few fortunates out there in that i didnt run out and buy a home and finance vehicles that my family coudnt pay for.we drive 20+ year old vehicles(which i keep running)and we rent a modest home in a great area.my biggest creditor is my local gunshop!you might be a redneck if your biggest creditor is a gunshop!

6 years 7 weeks ago, 10:46 AM

Manny G

Manny G's picture

Rank:
Lieutenant Colonel
Points:
98
Join Date:
Mar 2009
Wall Street, AIG etc,

Wall Street, AIG etc, President Obama and Hillary Clinton both state the 401k is excellent investments for Americans. http://news.yahoo.com/s/politico/20090406/pl_politico/20927

On various occasion

Obama stated the fundamentals are there.

Are you Ready?

Thank you
6 years 7 weeks ago, 7:20 PM

Schuyler

Schuyler's picture

Rank:
General
Points:
3905
Join Date:
Nov 2008
Location:
Bainbridge Island, Washington, United States
Greasy: Right on

I see so many people being stupid, including my daughter and son in law who are now negative net worth because of their heavy debt load. If you get out there that far just cause you got to have the newest rig, you're a month from dead if you lose your job. Last time things went TU I got out of all 'stocks & bonds', etc. Now my son-in-law blew his knee out and is in danger of being disabled--big macho guy 'cept he can't walk.

I paid off my house this week. First time it's ever happened. I am debt free. Sorry to brag and truly beg your forgiveness, but it's been a long long time and I'm very happy. Got me some wood and food and water and my dog is healthy, so yeah, I'm as ready as I'll ever be. And if that's not enough--well, I've had a good run.

"All that is necessary for the triumph of evil is for good men to do nothing." - Edmund Burke
6 years 7 weeks ago, 7:28 PM

Mark3030

Mark3030's picture

Rank:
Lieutenant General
Points:
1784
Join Date:
Mar 2009
Location:
MN
Schuyler

congrads! happy for you you capatalist lol

"the thrill of the hunt"
6 years 7 weeks ago, 10:02 PM

Anonymous

schuyler!

congrats on the payoff!now you should have a gunslot BBQ so us other non home owning members can stand on owned land!LOL!

6 years 7 weeks ago, 12:42 PM

Schuyler

Schuyler's picture

Rank:
General
Points:
3905
Join Date:
Nov 2008
Location:
Bainbridge Island, Washington, United States

I'll report back. Spousal Unit says one better to brandy substitute and wants whiskey!

"All that is necessary for the triumph of evil is for good men to do nothing." - Edmund Burke
6 years 7 weeks ago, 12:51 PM

Anonymous

schuyler!

i say try the whiskey too!let me know how it works out!

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