Is this why my mutual fund fees are so high?
>> The 20 highest-paid fund managers made an average of $657.5 million
I’m not sure I believe that number. Wonder where they got their data.
So? They will never know the pleasure of finding a good deal on a can of good generic-brand refried beans at Kroger, nor the immense relief I get when I take a leak on their lawn when passing by (not to mention passing gas). Poor souls. To each his own.
Wonder how much top movie stars earn over minimum wage.
Is this supposed to rile us up so that we can scream for more taxes on the rich (those making over $80,000 per year)?
The average US salary is under $30,000?
So if the fund loses money, do they pay in?
Who gives a sh*t how much they make? I hope they make double next year, and the year after that.
I’d be willing to bet none of those guys caught 41 bream on his lunch break today.
I did.
Hey, if a million people are willing to pay you $600 to manage their money, why shouldn’t you take 600 million to do it?
All the while, they get to play Monopoly with other people’s money...and whether the fund is a winner or loser, they win!
Plus they are better paid than congress, who plays Monopoly with our lives.
Here’s the question we should all be asking: what are the job requirements to be a fund manager?
:^)