Hacker Newsnew | past | comments | ask | show | jobs | submitlogin
America's 50 Richest Paydays (vanityfair.com)
3 points by matstc on March 6, 2008 | hide | past | favorite | 3 comments


This article is fundamentally mistaken. Most of these weren't increases in anyone's bottom line, but merely converting one form of asset to another.


They are missing John Paulson ($3 to $4 billion) and John Arnold (possibly). And if they use the cash accounting method they seem to be using, anyone involved in finance is going to look good. A derivatives trader with 100% daily turnover could manage a $1 million portfolio that gave him $250 million in gross cash flow ($1 million in turnover X 250 or so trading days). Terribly flawed.


Also consider the tax implications and the biggest payday goes to the Department of the Treasury. So, even though there was a transfer in asset categories, it wasn’t one-for-one.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: