This $100 Million ATM receipt will make you hate yourself.

[wawaweewa]

Originally Posted by kiendienn

Originally Posted by jordanhendrix

Originally Posted by PoloLax

One. It's not David Tepper, as he stated that wasn't his.

Secondly, if you run a hedge fund, you're most likely financially savy, and to put $100 million in a Savings account is not being financially savy, you could make way more money with that 100 mill than having it sit in a savings account. There is never a time when you need $100 mill cash, never.

Also  I never once assumed that was all his money so I don't know why you stated that.

And to your comment about he needs a place to store his cash, you don't store 100 mill in a savings account, it's honestly worthless. You can have billions of dollars, doesn't mean you take 100 mill and put it into a bank account.

I did my brain work, now it's time for you to do yours.

  

where should someone put the money than?

where do you think rich people keep their CASH?

Why are you assuming he doesnt ever need access to that amount of cash, what if he wants to buy two mansions in the Hamptons? you think hes gonna take a loan or sell off stock to do it?

Rich people keep cash on hand, they put in safe places and insure it. 

100mil at 1% = 1 million a year, no one would call that worthless, def not the best way to grow the money but if you got 3.4Billion working hard somewhere else its not unreasonable to keep a % of your net worth liquid. That does make sense to you right?

let it go, you're losing this one/already lost this one.

That's not necessarily a savings account. It's most likely some type of brokerage account linked with an ATM card. 
Just because Tepper denied it doesn't mean it's not Tepper. If I was him, I'd deny it too. There's no upside to admitting this. Especially in today's environment.  

If that's one of his personal accounts then 3% of his net worth in some type of brokerage account is not out of the question.  It could also be one of the accounts of his hedge fund. 

 

[lazyj10]

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

 

[lazyj10]

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

 

[wawaweewa]

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

 

[wawaweewa]

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

 

[jordanhendrix]

^^^Thank you! thats what I'm trying to say, NT doesn't know about these things

 

[jordanhendrix]

^^^Thank you! thats what I'm trying to say, NT doesn't know about these things

 

[righteouskungfu]

Still love my self

 

[righteouskungfu]

Still love my self

 

[lazyj10]

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

I'm not disputing that it's possible, I'm just saying unlikely. I know of a couple of funds in detail with with 1bn+ AUM...multiple prime brokers and the whole 9. Those guys wire funds to the mgmt co and run it that way and keep brokerage accounts separate. It'd be a complete mess for auditors and internal contol of they co-mingled the actual funds money with their own.

 

[lazyj10]

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

I'm not disputing that it's possible, I'm just saying unlikely. I know of a couple of funds in detail with with 1bn+ AUM...multiple prime brokers and the whole 9. Those guys wire funds to the mgmt co and run it that way and keep brokerage accounts separate. It'd be a complete mess for auditors and internal contol of they co-mingled the actual funds money with their own.

 

[mr jordan04]

Originally Posted by SIZE TENS

If it is real, there is no doubt in my mind that the owner is 1000x more financially savvy than all the "experts" posting in this thread.

 

[mr jordan04]

Originally Posted by SIZE TENS

If it is real, there is no doubt in my mind that the owner is 1000x more financially savvy than all the "experts" posting in this thread.

 

[andycrazn]

Originally Posted by jordanhendrix

Originally Posted by PoloLax

Originally Posted by jordanhendrix

@polo lax, its DAVID TEPPER, dude runs a hedge fund!
and why would he take out 100 mil at any time?
why are you assuming thats all the money he has?

he needs a place to store SOME of his cash homie, plus you can pay for the money to be insured past 250k

You need to do more brain work, youre not a hater, youre just simple.

One. It's not David Tepper, as he stated that wasn't his.

Secondly, if you run a hedge fund, you're most likely financially savy, and to put $100 million in a Savings account is not being financially savy, you could make way more money with that 100 mill than having it sit in a savings account. There is never a time when you need $100 mill cash, never.

Also  I never once assumed that was all his money so I don't know why you stated that.

And to your comment about he needs a place to store his cash, you don't store 100 mill in a savings account, it's honestly worthless. You can have billions of dollars, doesn't mean you take 100 mill and put it into a bank account.

I did my brain work, now it's time for you to do yours.

  

where should someone put the money than?

where do you think rich people keep their CASH?

Why are you assuming he doesnt ever need access to that amount of cash, what if he wants to buy two mansions in the Hamptons? you think hes gonna take a loan or sell off stock to do it?

Rich people keep cash on hand, they put in safe places and insure it. 

100mil at 1% = 1 million a year, no one would call that worthless, def not the best way to grow the money but if you got 3.4Billion working hard somewhere else its not unreasonable to keep a % of your net worth liquid. That does make sense to you right?

and inflation would wipe out that 1 percent and actually put you in the red.

 

[andycrazn]

Originally Posted by jordanhendrix

Originally Posted by PoloLax

Originally Posted by jordanhendrix

@polo lax, its DAVID TEPPER, dude runs a hedge fund!
and why would he take out 100 mil at any time?
why are you assuming thats all the money he has?

he needs a place to store SOME of his cash homie, plus you can pay for the money to be insured past 250k

You need to do more brain work, youre not a hater, youre just simple.

One. It's not David Tepper, as he stated that wasn't his.

Secondly, if you run a hedge fund, you're most likely financially savy, and to put $100 million in a Savings account is not being financially savy, you could make way more money with that 100 mill than having it sit in a savings account. There is never a time when you need $100 mill cash, never.

Also  I never once assumed that was all his money so I don't know why you stated that.

And to your comment about he needs a place to store his cash, you don't store 100 mill in a savings account, it's honestly worthless. You can have billions of dollars, doesn't mean you take 100 mill and put it into a bank account.

I did my brain work, now it's time for you to do yours.

  

where should someone put the money than?

where do you think rich people keep their CASH?

Why are you assuming he doesnt ever need access to that amount of cash, what if he wants to buy two mansions in the Hamptons? you think hes gonna take a loan or sell off stock to do it?

Rich people keep cash on hand, they put in safe places and insure it. 

100mil at 1% = 1 million a year, no one would call that worthless, def not the best way to grow the money but if you got 3.4Billion working hard somewhere else its not unreasonable to keep a % of your net worth liquid. That does make sense to you right?

and inflation would wipe out that 1 percent and actually put you in the red.

 

[jordanhendrix]

^^^What if he/she won the lotto?

 

[jordanhendrix]

^^^What if he/she won the lotto?

 

[wawaweewa]

Originally Posted by LazyJ10

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

I'm not disputing that it's possible, I'm just saying unlikely. I know of a couple of funds in detail with with 1bn+ AUM...multiple prime brokers and the whole 9. Those guys wire funds to the mgmt co and run it that way and keep brokerage accounts separate. It'd be a complete mess for auditors and internal contol of they co-mingled the actual funds money with their own.

Yeh, I think co-mingling of the funds is out of the question. There are prob tons of regs on that. 

If the ATM receipt is real then it's def some type of brokerage or MM account.  Incidentally, MM accounts are considered savings accounts for reg purposes so that may be it. Idk.It's hard to tell obviously  but if it's real then you apparently  have ATM cards linked to 100MM accounts. 

I don't manage the finances of billionaires but I'd imagine they have some cash on hand. If you're worth 3bn, 100MM might be that "some".

 

 

[wawaweewa]

Originally Posted by LazyJ10

Originally Posted by wawaweewa

Originally Posted by LazyJ10

Not too many prime brokers who would be the size of which to service Tepper's funds would have debit cards though.

Not saying it's impossible, but I've never seen anyone but Scwabb, E-trade and TD have that....and it's usually personal not institutional.

If you have that much in an account I'm sure you can bypass some official restrictions if you need to. All the major banks have in house brokerage divisions who would be able to handle that. 
I don't see it as that out of the ordinary if you compare it to either his net worth or the AUM of his fund. Even if it's not Tepper. It's prob another dude just as wealthy as him.

Say his fund has $5bn AUM and they normally keep at least 10% cash reserves. That's 500MM floating around somewhere. 

I'm not disputing that it's possible, I'm just saying unlikely. I know of a couple of funds in detail with with 1bn+ AUM...multiple prime brokers and the whole 9. Those guys wire funds to the mgmt co and run it that way and keep brokerage accounts separate. It'd be a complete mess for auditors and internal contol of they co-mingled the actual funds money with their own.

Yeh, I think co-mingling of the funds is out of the question. There are prob tons of regs on that. 

If the ATM receipt is real then it's def some type of brokerage or MM account.  Incidentally, MM accounts are considered savings accounts for reg purposes so that may be it. Idk.It's hard to tell obviously  but if it's real then you apparently  have ATM cards linked to 100MM accounts. 

I don't manage the finances of billionaires but I'd imagine they have some cash on hand. If you're worth 3bn, 100MM might be that "some".

 

 

[i rock jordanz]

Originally Posted by eashawty

so if a person has 100 mill do they just put $100,000 in 1000 bank accounts?

I would invest it into bonds, money market accounts, and real estate. 

 

[i rock jordanz]

Originally Posted by eashawty

so if a person has 100 mill do they just put $100,000 in 1000 bank accounts?

I would invest it into bonds, money market accounts, and real estate. 

 

[i rock jordanz]

Originally Posted by eLNiNo4530

I see people talkin about having 100 mil in a checking account but...what kind of ATM has 100 mil stocked in it?

Can't see the pic btw

 

[i rock jordanz]

Originally Posted by eLNiNo4530

I see people talkin about having 100 mil in a checking account but...what kind of ATM has 100 mil stocked in it?

Can't see the pic btw

 

[seasoned vet]

....gotta be some sort of typo.
 
 

 

[seasoned vet]

....gotta be some sort of typo.