An excerpt from the January 18, 2008, Charlotte Observer article, Bonuses fall along with bank profits.
"The New York Comptroller on Thursday estimated the bonus pool paid by the securities industry to employees in New York City reached $33.2 billion, down 2% from a record 2006. The average bonus was about $180,420, although payouts range from hundreds of dollars for clerks to millions of dollars for top performers and executives."
"Bloomberg News on Thursday calculated a bigger number for year-end bonuses: $39 billion for the top five New York firms."
Yes, the number was billions with a b. Yes, the city is New York alone. Yes, $39 billion for the top 5 firms in New York. Yes, the average was $180,420.
Question: Where did the money come to pay these answers?
Answer: From investors who are buying and selling
Thought: Why not stop trading and start investing and put this money in your pocket? Isn't that an investor's objective, to put money in their pocket?
Stop watching shows on CNBC like Cramer and Fast Money. While these shows are very entertaining, their purpose is to get an investor to trade, or speculate, rather than to invest for the longer term
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