Posts filed under “Finance”

Pimco’s $1.5 Billion 2013 Bonus Pool

How much compensation the folks at Pacific Investment Management Co., better known as Pimco, haul in each year has always been a topic of fascination on Wall Street.

In 2012, news reports suggested that the firm’s top 30 partners “pulled down an average $33 million a year in compensation in recent years.” A subsequent column by Felix Salmon guessed that the average investment professional at Pimco was making “roughly $7 million each” annually.

A Pimco spokesman denied Salmon’s claim, responding that “The numbers cited in your blog post today are wildly inaccurate.”

Salmon’s speculation was, indeed, wildly inaccurate — to the downside. Actual bonuses at Pimco are higher, much higher, than probably any outsiders previously believed. Based on news reports, public records and new data obtained by Bloomberg View, it appears that Pimco had a 2013 bonus pool for its 60 managing directors of almost $1.5 billion.

So how much have Pimco’s top executives earned? According to documents provided to Bloomberg View by someone with knowledge of Pimco’s bonus policies, the numbers break down like this: Gross earned $290 million as his year-end bonus for 2013. Mohamed El-Erian, Pimco’s former chief executive officer and one-time heir apparent to Gross, received $230 million (El-Erian is a fellow Bloomberg View contributor).

And the story doesn’t end with Pimco’s two most visible (former) employees.

Continues here

Category: Finance, Really, really bad calls, Wages & Income

TDS: Money is the Big Winner of 2014 Midterms


Jon Stewart election 110414 by lookatmyshirt

Category: Finance, Legal, Really, really bad calls, Video

Why There Are Two Standards for Financial Advice

> My Sunday Washington Post Business Section column is out. This morning, we look at the various legal standards of care financial advisors must adhere to. The print version had the full headline Why Two Standards for Financial Advice? while the online version was Find a financial adviser who will put your interests first. As I…Read More

Category: Finance, Investing, Legal

Buybacks: Money well spent?

Great charts from the FT’s weekend article, titled Buybacks: Money well spent?:

 

 


Source: FT
 
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Category: Corporate Management, Finance, Markets

Biggest Tech IPOs

Source: Forbes

Category: Digital Media, Finance, IPOs, Technology

What College has the most Billionaire Alumni?

Funny, this came up at dinner just last night:


Source: Wealth-X and UBS Billionaire Census 2014

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Category: Finance, Research, Wages & Income

Bloomberg Brief: 2 Months Free for TBP Readers

I have been getting the Bloomberg Brief for a long time — its a very good daily subscription showing an overview of a variety of market and economic factors. Readers of the Big Picture can get a 2 month free trail subscription on the graphic below and filling out the usual forms. (No, I don’t…Read More

Category: Digital Media, Finance

Fiduciary Duty of Brokers

Source: WSJ

Category: Finance, Legal, Regulation

China’s Bloated Financial System: A Quick Guide

Source: Bloomberg Briefs

Category: Finance

Lefsetz’s Business Rules

1. You’ve got to get along. If you don’t have good people skills, you’ll never succeed, even if you run your own business. 2. Money talks. He who has cash has leverage, and someone always has more than you do. There’s rarely a deal between equals. 3. Leverage is not always about money. I.e. if…Read More

Category: Finance, Rules