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#2046017 - 01/17/20 10:11 AM Re: Politics in Finance [Re: Maximus]
Maximus Offline
Wilt Chamberlain

Registered: 10/30/12
Loc: Trance Land
Divorce in America- It's about Money

When Chris Hohn set up his hedge fund nine years ago, he came up with a cute little marketing gimmick. He'd give one-third of the fund's management fees—and a whole lot more if it did well—to a charity benefiting children. He dubbed his creation, The Children's Investment Fund.

The Children's Investment Fund Foundation's endowment to in excess of £2 billion. This, evidently, is enough to solve the problems surrounding "child survival, educational achievement, and nutrition and hunger."

Sure, TCI’s Chris Hohn has made all of the $1 billion to $3 billion he and his soon-to-be-ex-wife are fighting over, as he so modestly explained to the judge overseeing their divorce. But she, equally modestly, notes that she made him a not-terrible person. And that, Jamie Cooper-Hohn believes, is priceless. Or at least worth an extra quarter of the pot.

Hohn says his wife is entitled to 25 percent of their marital assets because he made a “special contribution” to the marriage. She is seeking half. “I’ve created all the wealth -- the expertise, the effort, the sweat and blood -- and the law as I read it is ‘special contribution’ applies.”

If they both were really philanthropists, the wife would be fighting for the husband to take the 75% while she kept 25% and the husband would be trying to force the wife to take the 75% while he kept 25%

Mr Hohn claims he is worth just £67 million and that much of his wealth was built up after they had separated.

Speaking in court on Tuesday, he said: "I have no interest in working for anybody. I don't need the money. "Why would I want to work for anybody, I'm a billionaire. "Why would I want to work for anybody. "I don''t really care about money, I gave away all the money I made to charity."

Mr Hohn described himself as being among the top ten investors in the world. "Over the long term I am an unbelievable moneymaker," he said. "I'm not the only one – there's a handful."

Presented with a list of other successful investors, he said: "They are up there with the greats, so is Warren Buffett.
"There are about five to ten investors in the world who have done as well as me out of tens of thousands."They are in the top ten all time great investors, I am not saying there aren't incredible investors but they are in the top one per cent."

He labelled legendry investment bank Goldmann Sachs "idiots" for buying a single manager hedge fund Chris Schumway Capital Partners which later went into liquidation when it's founder and solo portfolio manager Chris Schumway retired and all the investors pulled their money. "Only idiots do that, they completely lost all their money because it was completely reliant on one man," he said. "Goldman Sachs bought Schumway Capital then Mr Schumway retired and the whole company liquidated and they lost all their money."It a cautionary tale."

While discussing his talent for making sound financial decisions Mr Hohn (U.S. Lord of Finance) accepted the future value of an investment, asset or employee could not always be known. "Look at Fernando Torres, Chelsea paid £50 million for him and now he is worth nothing to them. "They overpaid." (Russian Oligarchy)


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#2046475 - 01/31/20 10:15 AM Re: Politics in Finance [Re: Maximus]
Maximus Offline
Wilt Chamberlain

Registered: 10/30/12
Loc: Trance Land



Trump Adminstration helping Farmers Hedge Risk


Chairman Tarbert on the CFTC’s Proposed Rule on Position Limits for Derivatives

“Speculative position limits were something that Congress passed 10 years ago as part of the Dodd-Frank Act. And the goal essentially is to not allow people that are coming into our markets purely to speculate—they’re not hedging anything—to get positions above a certain threshold. And the reason we’re putting these in place is to prevent things like corners and squeezes. But they were never meant to focus on anyone who’s actually hedging. Prior proposals … didn’t get that right. And so we have really focused on American agriculture, [and] the energy sector, to make sure if you’re going to these markets and you’re actually hedging risk, you can do so … We have had countless proposals, countless drafts, four actual proposals that were put before the Commission. We had only one that was finalized, and unfortunately that was struck down by the courts. So here we are—that was one issue … but the bigger issue in my opinion, and the one that Congress is most concerned about, is that previous proposals did not include the right hedging exemptions.”

Chairman Tarbert on the Importance of Protecting Bona Fide Hedging for American Agriculture

“I was out in Kansas over the summer and I actually met with a farmer who said she uses the futures markets to hedge … The way it works is the farmer needs to hedge his or her exposure. Now sometimes they do that directly in the futures markets like the farmer I talked to. She does it directly. But more often than not, they’ll enter a forward agreement with their local grain elevator. The local grain elevator will enter into an agreement with a large agricultural company and that agricultural company will use the futures markets to hedge their exposure. So ultimately, that price stability goes all the way back down the chain to farmers and ranchers.”

Chairman Tarbert on the CFTC’s Upcoming Agenda

“We‘ve been working tremendously hard to get things done, to get them done in the right way. We’ve done cross border rule proposals, capital proposals. What’s next on the agenda are a couple of different things. First of all, swap data reporting ... We have hundreds and hundreds of fields that the U.S. requires. The CFTC requires different fields than the SEC. The Europeans require different fields from us. It’s a bit of a mess … The other thing we’re doing is that for 37 years—since 1983—we have not changed our regulations to update them for bankruptcy. So my concern is, look, things are going great now but every now and again we may have a futures commission merchant fail and that person has customer money and we want to make sure those customers are protected. So things like that, that people haven’t thought about for decades, I am putting on the agenda.”

Chairman Tarbert on Digital Assets

“I want the United States of America to lead in this. So I want to encourage innovation … [R]ight now, the two biggest types of digital assets, bitcoin and ether, actually fall within our jurisdiction. So we are doing a lot in the digital asset space. We are seeing exchanges starting to list. Certainly, we’ve seen bitcoin futures, both cash settled as well as physically delivered. My guess is we’ll see ether futures as well. As things start to migrate into the commodities space, we’ll see even more.”
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