Le Monde Edmond
1049
How wrong you are
Perception is everything my friend. If a manager has lost me 40% in one year and he is running around with a $100'ooo I won't like it.
Even though it might have nothing to do directly with my investments - it still would be one more annoying factor. The manager cashing in on the management fee (which hedge funds do very well) and buying expensive watches while losing shareholders money. Ofcourse I would mind.
If he made me 40% I would be more forgiving.
E
Ultimately, investors are - are only as good as their track records.
Patek 5216 (approx. 700,000.00 Euro) Regards Smith...
Awesome
Gorgeous choice with black dial. Wonder how much use Ackman finds in the minute repeater function...
Awesome Ackman
Gorgeous choice with black dial. Wonder how much use Ackman finds in the minute repeater function...
Be careful what you wish for ;)
Maybe some part of the German national pension fund is invested with him indirectly. E
Your probably right not to care.
I was just being provocative once again (which I love being from time to time). Best E
sure that beside a few of us...
... Patek fans, nobody knows what he is wearing and how much it cost.
im no investment guru,
but if he were to consult me about Patek, I would certainly steer him away from a 5216. 5016 hands down a better more balanced timepiece. When it comes to highly complicated pateks, there used to be many good choices. These days the decisions when buying ...
A bankster and a gangster are of the same character ...
... you can read it in any psychology book. I do not think that these investors are people to admire, hedge fund people in particular. Regardless their taste. Moritz
No, it is science
It is not cynical nor is it exaggerated. These people are actually suffering from a personality disorder and have to be seen as patients, scientifically speaking. Some however end behind bars and some in exclusive penthouses. Moritz
When it ends at court for both, then it is a matter of the desk side ...
... I trust you mean :-). Best Moritz
Such generalisations
Are really silly and not helpful to those in this business who are honest and have ethics. Ofcourse they are some who are not ethical but that is the same in any other business. While I don't like Ackman personally who I have met several times at conferen...
Seriously?
With all due respect, but was your last sentence ironic? The last years have clearly shown that parts of the finance industry, notably in the US, but also elsewhere, have benefited from mechanisms which were far from being efficient, fair, and they have l...
It is never black or white but 50 shades of gray.
I am not in the business but ..... You can finish my sentence. Bill
The US and the Western World live under communism at the moment not capitalism
Taxpayer have bailed out the banks because of the financial gambling industry and are legally the owners of the banks therefore. Oliver Stone raises also this aspect that communism has taken over in his second Wall Street movie. I remember a Republican se...
Lets talk about watches
The other topic is too heavy and should be best discussed in person. Over Email and this forum it will only lead to miscommunication and perhaps some 'heated' arguments which I actually don't mind. But this is a watch forum after all. As your last comment...
Top vintage pieces would suit such Patek fans best
I have full understanding for modern, recognisable pieces as I went myself for a piece that is / was noticeable for watch fans as being a Patek. If I would be in the position of the gentleman that is depicted here I would go for complicated vintage pieces...
Makes sense somewhat
In theory it makes sense. But I think people like Ackman don't have the time to do their homework in this area. So they opt for a practical piece that is wearable and modern. Another question would be: is he and other investors like him really the best pl...
Marx is surely a likeable philospher :-)
All the best for your search after your first important vintage Patek and hopefully you can present us your choice one day here. Moritz
Thank you
I will do so for sure if end up buying something. This platform is ideal for sharing a new vintage patek purchase. I am excited for the May auctions in Geneva. best Edmond
Potus is in Los Angeles for dinner tomorrow.
Fund raising and you only pay 50k for a couple for dinner. Nice gig Nice fringe B. Cost to the tax payer????? Only a one day visit. Disruption for us locals simply trying to get around town ONLY 1 or 2 hours vs 20 mins.
I fully agree
To be discussed another time and another place (perhaps best in person). E
On the cover of the magazine ...
.. it says .. 'he makes enemies' ... how can that be ? :-) .. he looks so wussy ... .
Wussies
He may look like a wuss. But he will eat most people up for breakfast - if they are on the wrong side of him or argue against him. He is very sharp.
I know what you mean, but not true
You said >>> Ackman could buy this Patek every single day for the rest of his life and he would not even notice his account change. Ackman is 48. Let's say he lives another 40 years. That is 14,600 days. Let's call it 15,000 days. If he bought on...
Do the math
I do the math differently. Apparantly this watch is 700K USD. Multiply this by 365 to get one year. That gets me $255m a year. Ackman, although not official earned more than $700m last year. Lets say his wealth doesnt increase by that amount going forward...
HE could ... HE probably could ... yawn
Why do we have to talk about others? Let´s talk about watches and/or us instead. When it comes to Patek Philippe, I am only interested in numbers with up to four digits. Who cares about millions or billions ... it´s only (stupid) money ;-) Oliver
Your absolutely right
I have to admit this time I agree with you. Who cares about the others. And yes me too-I like the earlier four digit models. Lets revert back to us, our passion and our four digit models. Have a great weekend Edmond
totally agree. I don't envy him because...
He will probably never have a grail watch or would have to save to get a watch that he really loves... I really don't envy the "unlimited budget" people because it takes a lot of the fun out of the equation. For what he know he might have just picked this...
Is this guy a "bank(st)er"?
Siegmund Warburg or JP Morgan were "bankers". This guy is just...
I think of it like this.....
.....I own a vacuum cleaner. Its a Dyson. Its pretty much the best vacuum cleaner in the world. I am told that it sucks up dirt like no other vacuum cleaner in the world. No other vacuum cleaner serves the function in as good a way. I like my vacuum clean...
very nice analogy
I enjoyed that Joe. I like your sense of humor to. Have a splendid weekend Edmond ps: I am going to re-read the Geiger post for the third time and then give you my comments....
saw him at Tiffany's in NYC
picking up a few Patek watches on a weekday evening. Nice in person to the sales representative and no bodyguard, no entourage. stunning suit that he was wearing.
great spotting ! I wanted to upload....
The same photo and ask for information about the watch. Pardon my ignorance but why is this particular patek so expensive!? Is there a new trend in finance? Sometime ago many hedge fund managers (and the CEO of Goldman Sachs) were proudly wearing a casio,...
the 5216...
is a minute repeater tourbillon perpetual calendar with retrograde hands....replaced the 5016 which had the same function. i think watch preference depends on the person. some people, no matter how wealthy, could never fathom spending over $10 on a watch....
Thanks for the clarification...and Warren Buffett wears...
Warren wears a gold rolex that might look more flashy or exciting than this particular Patek :)
There is a difference
The CEO of Goldman is responsible to it shareholders and technically, shareholders employ him. Although he could easily afford Patek, running around with one especially in light of the current regulation against brokers and banks it may not be a good idea...
i dont think investors care what CEO/Portfolio Manger/etc wears...
as long as the investor makes money on their investment. wear a Patek...wear Casio...just make me money!! If someone lost money i wouldnt feel any better if they were wearing a $10 watch or a $100,000 watch
How wrong you are
Perception is everything my friend. If a manager has lost me 40% in one year and he is running around with a $100'ooo I won't like it. Even though it might have nothing to do directly with my investments - it still would be one more annoying factor. The m...
Right
I entirely agree with your view. Unless, in case of poor performance, he would offer me a Patek as "compensation" ;-)
what about the suit? what about the apartment??
if perception is everything, then you need to look a lot farther than just the fund manager's wrist, my friend. look at the $10,000 custom suit he's wearing, the $200 custom shirt and the $500 tie, along with the $2,000 custom shoes. not to mention the $2...
his tie...
...is a EUR 155 Hermes. Even analyst can afford this. BTW I am surprised about the overall tone of this discussion.