Billionaire trader John Arnold retires at 38
- Thread starter turkeyneck
- Start date
That's a lucky fellow, now he can concentrate on enjoying life and his family, got to know where to stop and smell the roses.
If he gets sucked back in he loses no matter how much he makes.
If he gets sucked back in he loses no matter how much he makes.
Yes, and the thing is - even if they were all 'bums' - how come no one else as champion beat 25 bums in a row? If it was that easy to beat easy opposition, then a 26-0 title record would be commonplace, instead of unique.
If trading was such a rigged game, there would be dozens of John Arnolds. Fact is, he either found a rigged market and rode it better than anyone else, or his market was not rigged and he rode it better than anyone else. If being rigged was so exploitable, we'd have dozens of John Arnolds instead of once per generation.
You can't compare Goldman to John Arnold. John Arnold was not making markets in structured products. He was taking huge bets with mostly standardized contracts. Absolutely no comparison. Zero.
it makes sense for billionaires to support socialism.
taxes will prevent new competition.
If you have a few billion you buy politicians.
Take a look at Chuck schumers donor list.
http://www.opensecrets.org/politicians/summary.php?cid=n00001093
Look at what GE and Buffet have done with the dems.
Billionaires love cronyism.
Oil companies as well.
Banks... etc.
If you can get the dems or Republicans to raise taxes enough --- no new people with rise to compete with you as you purchase favors from the govt.
taxes will prevent new competition.
If you have a few billion you buy politicians.
Take a look at Chuck schumers donor list.
http://www.opensecrets.org/politicians/summary.php?cid=n00001093
Look at what GE and Buffet have done with the dems.
Billionaires love cronyism.
Oil companies as well.
Banks... etc.
If you can get the dems or Republicans to raise taxes enough --- no new people with rise to compete with you as you purchase favors from the govt.
Please stop the bullsh1t politics in this thread, gents (or ladies?). Politics belong in the other forum.
Furthermore, anyone with a shred of common sense would know that most really wealthy people in the US (with a few notable exceptions) make sure to donate and support both political parties. That's just a matter of prudent risk management on their part.
Furthermore, anyone with a shred of common sense would know that most really wealthy people in the US (with a few notable exceptions) make sure to donate and support both political parties. That's just a matter of prudent risk management on their part.
they took advantage of dinosaur leftist state California that doesn't expand it's ability to produce electricity due to environmentalists clubbing every project to an early grave...
Evil socialist scum that votes for Mitt Romney or Obama deserve all bad they get.
Republican + Democrats = party of the Socialist Keynesians.
This party was inaugurated by the socialist Reagan.
If you voted for this party in the last 30 years, YOU are part of the problem. YOU are the cause of the second Great Depression.
Republican + Democrats = party of the Socialist Keynesians.
This party was inaugurated by the socialist Reagan.
If you voted for this party in the last 30 years, YOU are part of the problem. YOU are the cause of the second Great Depression.