no. There was two very specific things: one involved a tax avoidance lawsuit and the other a business decision involving their funds. Each was worth billions a year to the GP’s
How a Mathematician Became the Greatest Trader of All Time
- Thread starter Frederick Foresight
- Start date
no. There was two very specific things: one involved a tax avoidance lawsuit and the other a business decision involving their funds. Each was worth billions a year to the GP’s
You said make billions. Lawyers and accountants can't do that.
They most certainly can save billions and do so for almost every major private or public corporation.
You contradicted your own post.
what are you arguing about?
that rentech didn’t have smart non quant people who figured out how to avoid billions in taxes despite trading in very short time frames and how to monetize their name and make billions?
or are you arguing they didn’t happen?
or are you arguing that the lawyers and business people at rentech weren’t smarter than other business people even though most other firms didn’t do the things rentech figured out.
I'm referred (twice) to what you specifically said. I can't help you if you can't help yourself.
To be fair, the tax avoidance gave RenTech billions of extra capital to invest, which over the course of 10y multiplied and made them quite a bit of money. So on top of the $7bn in back taxes and fines also made IRS quite a bit extra as taxable capital income because they were "forced" to invest on RenTech, poor sods 
You are just disagreeing to disagree.
so you are saying that rentechs business people didn’t make the firm billions of dollars. That’s a pretty stupid stance to take.
I said no such thing. You are the one who said accountants and lawyers made them billions.
For the third and final time, accountants and lawyers can save a trading company some of the profits their TRADERS made.
Only other way for accountant/lawyer to earn profits (not retain them) is if they are trading as well but what company would employ someone to do that.
Get it?
If not, sorry move on.
Paying less money than the next guy is the same as making.
the guys in question added billions in wealth to the firm just like the traders did.
get it?
If not, sorry move on.
it wasn’t common practice but business and accounting people would have to set that up with the banking relationships.
I ran a tax arb. While we executed it, it was the lawyers who told me how to set up the structures and determined how the IRS would view it. Without them I couldn’t run it as every year they had to review the laws and new court cases and opine on if it could continue.