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Steve Wynn's take on the world

Discussion in 'Sports and News' started by The Big Ragu, Jul 19, 2011.

  1. Football_Bat

    Football_Bat Well-Known Member

    Double next.
     
  2. 93Devil

    93Devil Well-Known Member

    How many Average Joes in America today own stock?

    How many Average Joes in America have a pension plan?

    This guy brings in the real Average Joe, takes his money on the tables, and these "profits" are shared with people who are not Average Joes.

    The Average Joe in America today is a guy working per hour without health care and no real thoughts of ever being able to stop working.

    I wonder what percentage of my generation (41) will die working rather than die retired?
     
  3. YankeeFan

    YankeeFan Well-Known Member

    Wynn's investments in China/Macau is what's driving his company's profits.

    So, it's quite reasonable for him to be making big profits and still be bitching about the regulatory environment here.
     
  4. YankeeFan

    YankeeFan Well-Known Member

    You can't be serious.

    You realize that pension funds -- like CalPERS and GM's -- are some of the biggest players in the market right?

    Maybe you don't think of it that way because they invest with big, bad hedge funds to manage their money.
     
  5. LongTimeListener

    LongTimeListener Well-Known Member

    We should all understand that it is only the risk that is socialized in America, not the gain. Sheesh. The nerve of some people. Why can't we just give the banks and the rest of corporate America their $700 billion and understand that they'll do great things for us? All these rules and expectations of jobs and shit.
     
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    More than half of Americans own equities in one form or another, whether it is individual stock ownership, mutual funds or funds in 401(K), IRA or pension funds. I think at the height of the Greenspan-overheat-the-economy-and-create-asset-bubble-era, the number was somewhere around 65 percent of individuals owning equities in one form or another. It's down, but it is certainly more than half of Americans.
     
  7. YankeeFan

    YankeeFan Well-Known Member

    Millions & percentage of U.S. households owning mutual funds:

    [​IMG]

    http://www.icifactbook.org/fb_ch6.html
     
    Last edited by a moderator: Dec 15, 2014
  8. LongTimeListener

    LongTimeListener Well-Known Member

    And for them it has been a very good 12 months, with the S&P 500 up 23 percent. Unless Steve Wynn's contention is "we're making gobs and gobs of money, but without Obama's meddling we would be making gobs and gobs and GOBS of money!!!"
     
    Last edited by a moderator: Dec 15, 2014
  9. doctorquant

    doctorquant Well-Known Member

    If Average Joe doesn't want Wynn to "take" his money, Joe has a 100% effective approach at his disposal: Don't gamble. I like to gamble, but the fact that I have to pay for this form of entertainment through a house edge doesn't strike me as unfair at all.
     
  10. YankeeFan

    YankeeFan Well-Known Member

    Take a look at the list of money managers CalPERS uses:

    http://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/aim/mgrs/a-d.xml

    It's quite long and includes nearly every major player.
     
  11. YankeeFan

    YankeeFan Well-Known Member

    By law, slots in Vegas have to return 75% of money "invested". In actuality, they pay out about 95% to 97%.

    The vig at the sports book is 10%.

    The house edge in roulette is 5.26%.

    But, if I take after tax money and invest it in the market, the risk is all mine. If I make money, the government takes a cut in the form of a tax.

    AZ and others would like to see that tax go as high as 35%.

    Fuck. Might as well go to Vegas and bet on black.
     
  12. 93Devil

    93Devil Well-Known Member

    So over half of all American households do not.

    And your link says 90 million people own these things. How many adults are there in America over 25? 210 million? 220 million?

    So that is about 3/7ths of all Americans.
     
    Last edited by a moderator: Dec 15, 2014
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