ftrader Im very successful manager myself. When its close relatives like brothers,sisters, mom, dad, my grandparents,and uncles and they would ask for money I would never hesitate. I have never in life said no to family. Especially if it were my brothers,sisters, parents, and grand parents. Even my uncles. It might be diffrent cultures,Im asian, but I was born in canada, and family might not mean much to other cultures. but family in chinese culture means everything, even more then money.
Quote from F-Trader:
Again, the editor said they had sources from all over. I highly doubt someone working out of their home or small office who was making big bucks would NOT be known.
I have a friend in Hinsdale, IL (lot of Chicago traders live there) who works from his friggin mansion (20,000 sq ft home) who makes about 7 Million per year trading bonds.
Everyone in Hinsdale knows him. Very hard to keep a secret between 2 people unless one of them is dead. :eek:
I agree about NOT wanting to be on that list. One of the benefits of having money is privacy.
I don't get paid any money for being famous (I'm not) as a trader investing my own money.
If I recall, last year a famous hedge fund manager in NY was kidnapped and held for ransom. I'll try and find a link.
When you have money and people know it they hang on like leeches. I'm a millionaire myself and I can tell you it sucks sometimes when family knows you have money. I have lent over $200,000 to family and friends over the last 10 years and NEVER was paid back one dime. My wife and I called quits to lending any money for any reason.
If my family needs money, I'll buy them food, help pay rent but no F'n money for anything. Too F'n bad.
My sister called me last Christmas and cried her ass off to me about her credit card debt ($32,000). Her credit card companies doubled her monthly payment, something like $1,200 month.
She couldn't get a Home Equity Loan because of bad credit. She wanted to so-call "BORROW" $32,000 from me. I asked her what type of payment plan she would give me? She replied, I don't know if I can EVER pay you back but YOU should count your Blessings that YOU have the ability to GIVE me that money without it effecting YOUR lifestyle. YOU were blessed, I wasn't.
I said "you want me to give you a Corvette without any repayment plan and maybe you will never pay me a dime?"
I asked her about the $1,200 I had LENT to her 4 years ago, she said she had NO idea what I was talking about. I told her I would consider LENDING her the $32,000 but I would need her to sign a note so I could place a LIEN on her home just like a bank would. She wen't F'n BALLISTIC.
I said, I need guarantees that I will be paid back. I also told her if I wasn't paid back within 5 years that the note would charge 8% interest.
She asked me how would that work if she Sells her home. I said very simple. First your Banker gets paid for the 1st mortgage, then ME, then the Title company charges, the Realtor, your attorney, then what's left is yours.
She told me to go "F" myself and that I was a GREEDY bastard.
I told her to get her Alcoholic husband off the F'n couch and get a part time job.
She said she would NEVER talk to me again.
One less debt to write off.
