Faustian Posted January 13, 2009 Report Share Posted January 13, 2009 If only I had billions to lose! Some startling amounts here. http://www.forbes.com/2008/12/16/billionaires-adelson-casino-biz-billies-cz_dg_1216biggestlosers.html?feed=rss_popstories Link to comment Share on other sites More sharing options...
Torneyboy Posted January 13, 2009 Report Share Posted January 13, 2009 Combined, the tycoons on our ranking lost $167 billion in 11 months, while shares of the companies in which they own stakes fell an average 59%. Scary indeed.. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted January 13, 2009 Report Share Posted January 13, 2009 The one chap was third on Forbes' list and now may not be on the next list. What a fuking! Link to comment Share on other sites More sharing options...
Old Hippie Posted January 13, 2009 Report Share Posted January 13, 2009 If I added up all the money I have given back to my company in salary and benefit cuts Since 1993, the amount is staggering compared to what I make. I look at it and say wow, I must be so fucking rich to be able to take a hit like that...then I realize I am not... I have NO sympathy for a guy who lost millions, and still has millions... Link to comment Share on other sites More sharing options...
beano Posted January 13, 2009 Report Share Posted January 13, 2009 So where do the "lost" billions actually go? I was never much good at economics and often wondered this. Does another stock market punter end up with it? Link to comment Share on other sites More sharing options...
Torneyboy Posted January 13, 2009 Report Share Posted January 13, 2009 Down the tube... Link to comment Share on other sites More sharing options...
Old Hippie Posted January 13, 2009 Report Share Posted January 13, 2009 So where do the "lost" billions actually go?I was never much good at economics and often wondered this. Does another stock market punter end up with it? An excellent question I have asked many times. The money didn't just evaporate did it? someone has it...who has it might prove who or what caused all this shit. Link to comment Share on other sites More sharing options...
teddy Posted January 13, 2009 Report Share Posted January 13, 2009 So where do the "lost" billions actually go?I was never much good at economics and often wondered this. Does another stock market punter end up with it? The money never actually existed in the first place, it is all about what value is put on a stock or other asset at any one time. For instance, you own 10 houses worth $1,000,000 each and $10,000,000 worth of stock in Bank of America, so you are worth $20,000,000. Tomorrow, the housing markets and stock markets crash. Now you can only get $500,000 for each house and your stock in BOA drops by 50% so you can only get $5,000,000 for it if you wish to sell. So, in effect, you are now only worth $10,000,000. But, the other $10,000,000 hasn't gone to anybody else, it has just evaporated like it never existed. As Warren Buffett famously said when he was explaining this theory on the Larry King show, "it's a bit like when you get a hard on and your cock grows to 8 inches, then when you have shot your muck, it shrinks to 5 inches. You have lost 3 inches, but nobody else has your 3 inches, and if you wait long enough it will come back, just like the stock and housing markets will". Link to comment Share on other sites More sharing options...
dddave Posted January 13, 2009 Report Share Posted January 13, 2009 As Warren Buffett famously said when he was explaining this theory on the Larry King show, "it's a bit like when you get a hard on and your cock grows to 8 inches, then when you have shot your muck, it shrinks to 5 inches. You have lost 3 inches, but nobody else has your 3 inches, and if you wait long enough it will come back, just like the stock and housing markets will". What a great quote; did he really say that on LARRY KING LIVE? It must be really tough to be down to their last billion or so, I want to feel their pain. Link to comment Share on other sites More sharing options...
teddy Posted January 13, 2009 Report Share Posted January 13, 2009 What a great quote; did he really say that on LARRY KING LIVE? Yes, I was as surprised as Larry was when he came out with that one. Link to comment Share on other sites More sharing options...
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