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Reply #35: Easier said than done. If the receipt is, in fact, David Tepper's, the guy ... [View All]

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Hassin Bin Sober Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-29-11 10:37 PM
Response to Reply #32
35. Easier said than done. If the receipt is, in fact, David Tepper's, the guy ...
... is flush with so much personal wealth,he would probably have a hard time "investing" it like you say.

You just can't plop a couple billion of your take-home in the market. You can't even put that kind of dough in T-bonds without significant risk in the short-term. Not even gold.

Some of it HAS to go in the bank. If that is Tepper's receipt, you are looking at 1/34th of his 2009 take home pay.

Remember, this guy "invests" other people's money.

In 2009 alone he was personally paid 4 billion dollars. With top rates for those special people we call hedge fund managers being 15%, he has $3.4 billion from only one year to bury.

That's a lot of 100 million dollar chunks that have to go somewhere before they GET invested.

Like Frank told Tony Montana: Then you'll find out your biggest problem is not bringing in the stuff... ...but what to do with all the fucking cash!
In 2009, Tepper's hedge-fund firm earned about $7 billion by buying distressed financial stocks (including acquiring Bank of America common stock at $3 per share) in February and March of that year and profiting from recovery of those stocks,<3>with $4 billion of these profits going to Tepper's personal wealth. In March 2010, the New York Times reported that Tepper's success made him the top-earning hedge fund manager in the world in 2009,<4> and in 2010 he was ranked by Forbes as the 258th richest person in the world.

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