Guy made $4 Billion...nice job. He saw what others did not see when the banks were being sold off like Armageddon was imminent. Moral of the story...buy when everyone else is panicking and scared to death.
This Is How It's Done....$$$
by Sam Whiskey 4 Replies latest jw friends
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Sam Whiskey
David Tepper, the founder of Appaloosa Management, earned $4 billion last year, smashing records for the biggest pay packet received by a hedge fund manager.
Mr Tepper earned the sum after buying bank shares early last year when most other investors were dumping financial stock. The shares subsequently rose sharply, helping his main fund to grow by 130 per cent after fees. Appaloosa manages about $13 billion.
Mr Tepper’s earnings beat the $3.7 billion that John Paulson made in 2007 after betting that the US housing market would collapse.
The wealthiest hedge fund managers enjoyed a bumper year, according to Alpha Return’s ninth annual rich list.
</form>The 25 highest-earning managers made a combined $25.3 billion, more than double the $11.6 billion earned last year. The previous best was $22.3 billion, earned in 2007.
Six other managers — Mr Paulson, George Soros, James Simons, Seven Cohen, Edward Lampert and Carl Icahn — made more than $1 billion last year.
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Farkel
While at the same time, the mighty Watchtower's Printing Corporation prophets continue to go down.
They're betting on the wrong horse.
Farkel
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Sam Whiskey
True Farkel. But I did read somewhere (perhaps someone posted it here) that the WT is selling ALL of it's Brooklyn real estate valued in the BILLIONS. Anyone else here this?
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recovering
hundreds of millions not billions. They also do not have a buyer yet.