Monday, May 4, 2009

This for losing other people's money...THANKS!


What's wrong with this picture?

New York Times
FARM CROP VALUES DROP $5,000,000,000; Year's Total Is $9,148,419,000, as Compared With $14,087,995,000 Last Year. BUT HARVEST SETS RECORD Despite Shrinkage in Acreage.12 Crops Are the Most Abundant in Nation's History. EARLY FORECASTS EXCEEDED Wheat Yield Is 789,878,000 Bushels,Corn 3,232,367,000 and Oats1,524,055,000.
WSJ
...
The average earnings for the world’s best-paid 25 hedge fund managers last year was $464 million, according to the industry publication’s 2009 Hedge Fund Compensation Report. Still, three of the four best-paid managers earned less last year than they did in 2007, as the troubled industry registered its worst recorded losses and redemptions. Many of their less-well paid industry peers did likewise as the average hedge fund returned a negative 19% in 2008 and endured record redemptions, according to analysts Hedge Fund Research.
...
By my calculations the top 25 hedge managers made more money than the entire gross value of all legal crops grown in the United States. This for losing other people's money...
Link

No comments:

Post a Comment

Everyone is encouraged to participate with civilized comments.