Quote: (03-03-2012 01:51 PM)Smitty Wrote:
Quote: (03-01-2012 12:15 AM)MikeCF Wrote:
The chart makes sense.
Contrary to popular belief, investing in the stock market is not how the rich make their money.
The rich keep their money by having their taxes cut.
A robust stock market is good for middle class earners who have been contributing to their 401k's for years. (Pension funds, too.)
Republicans do whatever they can to cut taxes on the already-rich. Republicans do not want anyone else getting rich.
Republicans are the ultimate haters.
Anyone who trades the markets knows that institutional buyers (largely fund managers) move the market. Those are the wealthy "fat cats" on wall street. The money they save every year in any tax cut is peanuts compared to what they make in the market in a given month.
I didnt even see this earlier. smitty is right on this. Just look up the earnings of those hedge funds guys. Look at the return they gave their clients(other fat cats.). You can go beyond hedge funds and look at other asset management companies too..
http://www.insidermonkey.com/blog/2011/03/14/
Rank Fund Manager 2010 Earnings (Billions)
1 John Paulson 4
2 Warren Buffett 3
3 James Simons 2.1
4 Ray Dalio 2
5 Carl Icahn 2
6 Steve Cohen 1.6
7 David Tepper 1.5
8 Bruce Kovner 1
9 Ron Perelman 1
10 Edward Lampert 0.6
11 Noam Gottesman 0.5
12 Ted Forstmann 0.5
13 George Soros 0.5
14 Glenn Dubin 0.4
15 James Coulter 0.4
16 T. Boone Pickens 0.3
17 Michael Hintze 0.3
18 Peter Thiel 0.3
19 Marc Rowan 0.3
20 Richard Chilton 0.3
21 Ken Fisher 0.3
22 Jonathan Nelson 0.3
23 Leon G. Cooperman 0.3
24 Ken Griffin 0.3
25 Thomas Lee 0.2
26 Louis Bacon 0.2
27 George Argyros 0.2
28 Stephen Mandel 0.2
29 Israel Englander 0.2
30 Philip Falcone 0.2
31 Henry Swieca 0.1
32 Michael Price 0.1
33 Marc Lasry 0.1
34 Wilbur Ross 0.1
35 David Bonderman 0.1
36 Michael Milken 0.1
37 Bill Gross 0.1
38 Julian Robertson 0.1
39 David Rubenstein 0.1
40 Paul Tudor Jones 0.1
41 Howard Marks 0.05
42 Bruce Karsh 0.05