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New York, 11:12 AM
Mon Nov 23
25 posts in the last 24 hours

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  • posts about #wealth more →

    Huddled Masses Getting a Little Too Close

    Peter Thiel's Richer Than You, But Not as Rich as He'd Like You to Think

    Subprime Crisis Hits Those Who Created It

    Late Columnist Gets Own Ivy League Building

    Feeling overstressed? It's probably all that money

    Creepy Secret 'Radar' Owner Made Bill Clinton $12.7 Million

    How To Tell If You're Poor

    Forget his "wild-child" daughter — how much is Terry Semel worth?

    Wouldn't It Suck If You Were Rich?

    Hey, America, the Bay Area could OWN YOU

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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of The Lone Scout The Lone Scout
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    On a lighter note, Ham, is this post's photo a tease, a suggestion that there's more to come on the Hipster Grifter? Are you showing us that since her last episode she has added some prose and a rose beneath the phoenix emblazoned on her chest (and opposite the bearded guy branded on her butt)?

    I really miss Kari.
     Reply
    The Lone Scout was starred The Lone Scout was unstarred
    Image of The Real JR The Real JR
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    That pic is what happens when you get recklessly tattooed in college right after reading Valarie Solanis' S.C.U.M. Manifesto in your Feminist Women's Lit Class.

    Imagine how that looks 15 years later after 3 kids by 4 fathers.
     Reply
    The Real JR was starred The Real JR was unstarred
    Image of The Lone Scout The Lone Scout
    09/10/09

    @The Real JR: A whole chapter or two, instead of just a sentence?
     Reply
    The Lone Scout was starred The Lone Scout was unstarred
    Image of If_I_Had_a_Poodle If_I_Had_a_Poodle
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    this is exactly the problem with school financing. it should be financed nationally from a national tax, so all schools are funded at the same level of, say, westchester county schools
     Reply
    If_I_Had_a_Poodle was starred If_I_Had_a_Poodle was unstarred
    Image of Unsolicited Advice Unsolicited Advice
    09/10/09

    @if_i_only_had_a_heart:

    Providing a legitimate equality of opportunity for each human is a noble, impossible endeavor.
     Reply
    Unsolicited Advice was starred Unsolicited Advice was unstarred
    Image of The Lone Scout The Lone Scout
    09/10/09

    @if_i_only_had_a_heart: I share your desire that all children should have an equal opportunity to learn and succeed (although I believe it would require cooperation and discipline on the part of the child and his/her family, but I suppose that's an argument for another day).

    However, I am intrigued at your suggestion that all schools (by which I assume you mean all pupils, on a spend-per-pupil basis) should be funded at the same level as education in glorious Taxchester County, New York. Do you mean to overfund, in practice via national tax rates, schools in areas of the country with a lower cost of living?

    It's interesting because if the value (not just the cost) of an education in Wyoming were so much less than in Taxchester, your plan to overspend in Wyoming could help close the opportunity gap. And wealth redistribution happens all the time in the U.S., as the gummint sucks up revenoo using tax rates that are, indeed, not adjusted for the local cost of living, and then hands the money out based on *cough* need.

    So, how do we make this happen? Federalization of all school systems? And how would we wrest control of the school systems from states and local governments?
     Reply
    Edited by The Lone Scout at 09/10/09 2:29 PM The Lone Scout was starred The Lone Scout was unstarred
    Image of bytememehard bytememehard
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    What's the picture of Anne Heche's abdomen have to do with anything?
     Reply
    bytememehard was starred bytememehard was unstarred
    Image of dado dado
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    A few more sacrificial lambs ought to do the trick...who's up next? Walter Noel? He'll do. Things'll calm down soon enough.
     Reply
    dado was starred dado was unstarred
    Image of Unsolicited Advice Unsolicited Advice
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    This is one of those "moral" victories, because it's just evidence that the biggest slices of the pie shrunk the most. The poor don't own stocks and real estate that suddenly stop printing money!
     Reply
    Unsolicited Advice was starred Unsolicited Advice was unstarred
    Image of Smitros Smitros
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    Is that picture from Rio?

    Andrew Leonard's blog in Salon has an interesting post on some of the same statistics.
     Reply
    Edited by Smitros at 09/10/09 1:26 PM Smitros was starred Smitros was unstarred
    Image of ms_priestypants ms_priestypants
    09/10/09

    @Smitros: My money was on Gurgaon.
     Reply
    Smitros promoted this comment ms_priestypants was starred ms_priestypants was unstarred
    Image of Smitros Smitros
    09/10/09

    @ms_priestypants:
    Now the picture has been changed. Hm.
     Reply
    Smitros was starred Smitros was unstarred
    Image of Private Hangnail Private Hangnail
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    I thought it was bad when I lost my $50,000 job. I see now that to fall from such a great height is much, much worse.

    Now if you'll excuse me, I have to resume collecting recyclables so I can eat something besides tears tonight.
     Reply
    Private Hangnail was starred Private Hangnail was unstarred
    Image of depardoo depardoo
    09/10/09

    In reply to Huddled Masses Getting a Little Too Close
    Why, only yesterday, I had to dismiss my Phillipino houseboy.
     Reply
    depardoo was starred depardoo was unstarred
    Image of The Real JR The Real JR
    09/10/09

    @depardoo: What the hell is a Phillipino and where is this land of Phillip?
     Reply
    The Real JR was starred The Real JR was unstarred
    Image of depardoo depardoo
    09/10/09

    @The Real JR:

    I dismissed him because it was too hard to spell.
     Reply
    Edited by depardoo at 09/10/09 1:30 PM depardoo was starred depardoo was unstarred
    Image of bytememehard bytememehard
    09/10/09

    @depardoo: Maybe that's why so many people call them Phlips?
     Reply
    Edited by bytememehard at 09/10/09 1:48 PM bytememehard was starred bytememehard was unstarred
    Image of Smitros Smitros
    09/10/09

    @bytememehard:
    People call them that because they're being bigots.
     Reply
    Smitros was starred Smitros was unstarred
    Image of bytememehard bytememehard
    09/10/09

    @Smitros: Ya think?
     Reply
    bytememehard was starred bytememehard was unstarred
    Image of LelandDarnsies LelandDarnsies
    05/14/09

    In reply to Peter Thiel's Richer Than You, But Not as Rich as He'd Like You to Think
    There's a great chance that this analysis is totally wrong. Peter probably has a chunk of money is his fund through a General Partner account. That's what would receive the 20% performance fee (if they have positive investment returns). Many times, that money just stays in the Fund.
     Reply
    LelandDarnsies was starred LelandDarnsies was unstarred
    Image of Owen Thomas Owen Thomas
    05/14/09

    @LelandDarnsies: Wrong on two accounts. Clarium takes a 25 percent performance fee, not 20 percent. And Clarium had a disastrous year last year, which means it made essentially no money. Thiel has earned fees in the past, when his fund was much smaller.
     Reply
    Owen Thomas was starred Owen Thomas was unstarred
    Image of ADismalScience ADismalScience
    05/14/09

    In reply to Peter Thiel's Richer Than You, But Not as Rich as He'd Like You to Think
    I'd be shocked if you're right.


    1.) 2006 is a faraway time. Most hedgies have seen the wisdom in putting less of their money where their mouth is. I would be very surprised if Mr. Thiel has retained this approach.


    2.) As you disclosed, liquid net worth. Other, harder-to-value assets like the Facebook stake likely pepper his portfolio. I'd be shocked if that was Mr. Thiel's only venture, after all!


    The presence of that statement document doesn't make such a blindered analysis credible. You can get the pitchbook and the marketing materials pretty easily, even from the most cloistered of funds. Hell, the only reason you aren't bombarded with them is because of marketing and disclosure laws that identify you, Mr. Thomas, as neither an Accredited Investor nor a Qualified Purchaser.

     Reply
    ADismalScience was starred ADismalScience was unstarred
    Image of Owen Thomas Owen Thomas
    05/14/09

    @ADismalScience: According to my sources at Clarium, he still keeps his assets at the firm. He no longer runs his personal finances through Clarium, however -- that's how his employees caught him making a donation to NumbersUSA, the anti-immigration lobbying outfit.
     Reply
    Owen Thomas was starred Owen Thomas was unstarred
    Image of ADismalScience ADismalScience
    05/14/09

    @Owen Thomas:


    Color me shocked. Foolish and vain, though I suppose it fits the profile.

     Reply
    ADismalScience was starred ADismalScience was unstarred
    Image of iplaudius iplaudius
    05/14/09

    In reply to Peter Thiel's Richer Than You, But Not as Rich as He'd Like You to Think
    I love that this analysis exploits the psychology of a libertarian crackpot to shame him for not being a billionaire.
     Reply
    iplaudius was starred iplaudius was unstarred
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