Oh, I cannot tell you how much fun this is. How much it warms my heart. It's beyond words.
I'm talking about how great it is to see these Wall Street charlatans exposed for what they are...losers and frauds.
Here's the latest "titan" who we discover is, in reality, an emperor with no clothes
Yes, Ross is a billionaire and that's WAY more than I got, but now we get a pretty good sense of how he "earned" it: most likely rigged deals and lots and lots of fees on the billions he manages.
But take a look at the stock of Ross's company (his hedge fund) if you really want to see how he's doing,
Wilbur Ross Holding Company (WLRHU) did shit in the last two years.
Since it has been publicly traded the stock has done nothing. Ross made an "impressive, 5.0%, TOTAL, it looks like, in two years. Wow. Whoop Dee Fucking Doo. And that with 2% annual management fees and 20% of the profits.
Obviously, then, he made no profits. It was probably ALL management fees. That's right, 2% for doing nothing.
Now in order to save his company he is telling clients he is not going to take his 20% incentive fee. Ha!! That's no skin off his nose because by the looks of this chart he never made any profits!
I'm not surprised. This "genius" was all over these hedge fund "clown" gatherings like SALT and Ira Sohn pontificating about nothing. He spiel was the same inane crap all the other morons were saying at these things: that the "Fed was out of ammunition" or, there was going to be "hyperinflation because of all the central bank money printing," or, "China was a debt bubble." (Or Japan was a debt bubble. Take you pick.)
These morons are absolutely clueless. Thankfully, some of the smarter pension funds are pulling their money out--for good.
We've seen it with Gross, Bass, Ackman, Einhorn and now Ross. Actually, it's all of them. They're a bunch of brainless sheep all running around like kings, spouting the same, idiotic bullshit.
Here's some advice I'd give these guys: If I were them I'd NEVER go public because that gives the rest of us a glimpse at just how big of fucking losers they are.
Wilbur Ross. Hahahaaha!!