"How To Make A Million Dollars An Hour"
How To Make A Million Dollars An Hour
by Les Leopold at Business Insider
http://www.businessinsider.com/how-to-make-a-million-dollars-an-hour-2013-3?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29
"SNIP..............................................
In 2009, David Tepper, the head of the Appaloosa hedge fund, earned an astounding $4 billion. Personally. (That s $1,923,076.92 per hour.) The following year, John Paulson of Paulson and Co. broke Teppers record, hauling in $4.9 billion, or $2,355,769.34 per hour! Each firm reportedly earned around $20 billion.
More amazing still is that they earned these enormous incomes during the two most horrific economic years since the Great Depressionand they did it with only a skeleton crew.
So, here s the real puzzle: How did these two hedge funds, which have fewer than one hundred employees each, make as much money as Apple Inc., which relies on the hard work of its nearly 30,000 U.S. employees (and the incredibly hard work of another 700,000 workers and contractors globally)?
Hint: Produce nothing tangible for the real economy. Don't waste your time inventing or manufacturing stuff. In the hedge-fund game, you dont makeyou take.
..............................................SNIP"