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Started By
Message
1
Posted on 1/12/16 at 2:58 pm to GoldenBoy
quote:
With that amount of money you could find anyone you want to invest it for you.
For an outrageous fee
Posted on 1/12/16 at 2:59 pm to Boudreaux35
bullshite. a great FA would gladly charge you .50% if you brought him that much frick you money
Posted on 1/12/16 at 3:00 pm to SG_Geaux
quote:
Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.
I agree and disagree with thism
Anyone who asks is scum.
I would however dole out 20-30 million off the bat to 10-15 people. No strings attached.
We're talking 700 million. That's 4%. An acceptable loss.
A few people have been there through thick and thin, I see no harm in giving a few gifts with the understanding they will never get another dime.
Posted on 1/12/16 at 3:01 pm to Boudreaux35
I figure with a check for $650+ million in my hand, I should be able to get a meeting with Warren Buffett himself. I'd be fine with just copying his portfolio.
Posted on 1/12/16 at 3:01 pm to roguetiger15
This is a lot of information. I regret buying my ticket.
Posted on 1/12/16 at 3:02 pm to tiggerthetooth
quote:
Mark thinks he's a lot smarter than he is iMO. We all know everything he is was a result of the .com bubble. He cashed in on "broadcast.com". The end.
Yep that's all it took, anyone could have come up with the original idea, developed the infrastructure, and grow that into a business producing 13 million a year in revenue.
Posted on 1/12/16 at 3:08 pm to EA6B
If the take home reaches $700M you could get $17.5M from a meager 2.5% return.
Posted on 1/12/16 at 3:09 pm to CorporateTiger
quote:
I mean you shouldn't be trying to double your cash, but with 900 mln you can get a very handsome return with a diversified risk protected portfolio.
Sure, but if you've got ~$560M after taxes in Louisiana and you have a recession that results in a 15% decline in net worth, you would have lost $84 million dollars. Regardless of how well diversified a portfolio may be, a 15% loss is certainly plausible, and if it isn't plausible, then the return on that approach is likely minimal in the first place.
Now, considering the fact that you accumulated that $560M by buying a $2 Powerball ticket and the fact that you're unlikely to see $84M in your lifetime cumulated earnings, much less lose that much money in 12 months, I HIGHLY doubt that investor is going to hang around for things to come back.
When even a 5% move is more money than you'll make in your lifetime, why take on the uncertainty? Bury that shite in 30yr treasuries and relax with your $7.5M semi-annual interest payments.
ETA: I believe a more sustainable and realistic approach would be to invest the vast majority of it in long term treasuries or highly-rated munis and live on half of the interest payments while reinvesting the rest in whatever the hell you want. Treat the interest as a sustainable income and make investments accordingly and you'll be much more likely to make rational decisions with that money than when you see a 5% downside swing on your entire $500+M.
This post was edited on 1/12/16 at 3:12 pm
Posted on 1/12/16 at 3:12 pm to LSUBoo
It is, but your money loses value in a bank, so they're forced to go into the market with the sharks and the short-sellers.
Posted on 1/12/16 at 3:16 pm to CCTider
quote:
I figure with a check for $650+ million in my hand, I should be able to get a meeting with Warren Buffett himself.
He'll try to convince you to donate 99% of it during your lifetime.
quote:
I'd be fine with just copying his portfolio.
With $650 you can basically just buy approximately 3350 shares of A-share Berkshire Hathaway stock and call it a day.
FYI, you would have lost over $80 million dollars in the last 12 months however.
Posted on 1/12/16 at 3:18 pm to 13SaintTiger
quote:maybe not, but you can pay someone who is a smart invester
You don’t become a smart investor when you win the lottery.
Posted on 1/12/16 at 3:19 pm to roguetiger15
quote:
bullshite. a great FA would gladly charge you .50% if you brought him that much frick you money
I'd do it for half of that.
$1,375,000 a year to manage $550M. I promise I wouldn't even take on another client.
Posted on 1/12/16 at 3:21 pm to stout
quote:Yep. I think Cuban is spot on for some folks.
Eh...you also run the risk of some frick embezzling money from you.
For others, I think you invest the vast majority of it, but even if you keep, say, $50-100mil in just cash for just in case some doomsday scenario happens and you lose the entire $500+mil or whatever you invested, you still have quite the chunk of change to start over and still be very wealthy moving forward.
Or maybe invest chunks with different investment firms?
This post was edited on 1/12/16 at 3:22 pm
Posted on 1/12/16 at 3:30 pm to tiggerthetooth
quote:The end?
Mark thinks he's a lot smarter than he is iMO. We all know everything he is was a result of the .com bubble. He cashed in on "broadcast.com". The end.
The dude's probably made more money than all of TD's posters combined not counting Broadcast.com.
"The End" he says.
Posted on 1/12/16 at 3:32 pm to 13SaintTiger
Take the money and put it in low risk investments and live off the interest.
700 million in banks? frick me that's a lot to keep up with.
700 million in banks? frick me that's a lot to keep up with.
Posted on 1/12/16 at 3:35 pm to slackster
It is but remember the upkeep, property taxes and just cost of maintenance. So no you couldn't buy them and keep them
Posted on 1/12/16 at 3:35 pm to BobRoss
For frick's sake. That shows the WITHOLDING amounts. You still have to pay the full 39.6% and 6% for federal and state taxes, the highest marginal rates.
They take 25% and 5% right off the top, but that's not your final tax burden.
Jesus, Mak Cuban was right. You dipshits would just lose it all.
They take 25% and 5% right off the top, but that's not your final tax burden.
Jesus, Mak Cuban was right. You dipshits would just lose it all.
Posted on 1/12/16 at 3:39 pm to Geauxld Finger
quote:
It is but remember the upkeep, property taxes and just cost of maintenance. So no you couldn't buy them and keep them
Oh I completely agree, but I just wanted to point out what that kind of money can buy.
You can have the crème de la crème of planes and homes, but even the $930M pre-tax amount wouldn't be enough for the world's most expensive yacht. That is insane.
Posted on 1/12/16 at 3:41 pm to 13SaintTiger
Agree. Why invest or get off your arse to do anything you don't want to hassle with? You're a billionaire.
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