Comments welcome. I'll update with news articles really soon. Whaddaya think about his politcal leaning, backround, future performance, challenges up ahead for him... brainstorm... Thanks, Businesswiz
Jews make good money managers...it is in their genes...Why is that???...When I make my first Billion, I will hire a Jew as my CFO.
Back up that jew statement. Some money managers are athiestic but say they are religious not to be considered aloof in the business world. I have a religion: Businessism, I live by it and will die by it. JEW OR NOT I care about making money. Money management is considered making money it includes investment funds that can lead to profits. Bottom line is religion, to me, plays no part in the success of business persons. Unless ofcourse you believe in Businessism like me Please Register or Log in to view the hidden image! .
Nope, it's not genetic - it's training. Beginning at a very young age, most Jewish parents teach their children - especially the males - a rigid code of values. That includes emphasis on making money and managing it wisely. Compared to most other groups, those parents aren't anywhere as willing to give in to the child when he/she wants the newest "latest and greatest" whatever. Clothes, toys, gadgets, etc.
If you have at least 25 million, you could hire my non-jewish daughter to manage it for you. (All her clients are in this class.) I agree with Light, that the way a child is raised contributes to their success in the management of money field and even perhaps that the Jewish culture excels in this field. When my daughter was about 10, she wanted a "skate board" (New thing back then, very simple compared to modern ones. It cost $20 dollars.) I did not want her to have one. (Dangerous I thought, even though our house was last on a dead end street. At least a lot of skinned knees, I was sure.) However, I also believed that kids should be allowed to develop their own interests, not molded by their parent’s desires, so I agreed that she could earn $1 for every bucket full of small stones she dug out of the yard. After 18 buckets full, and several weeks of work every day after school and many hours each Saturday, there were no more to collect and she asked if she could dig in the neighbor's yard. I relented and gave the remaining $2 and she got her skateboard - probably the best investment I ever made in her education (now a MBA, CFA Instructor, etc.).
Yeah...although the PhD from MIT and professorship at Princeton for the last 20 years probably helps.
This is true, but there's actually more to it than this. Back in the Middle Ages it was considered a sin to charge interest, which pretty much eliminates the possibility of doing any sort of banking. Jews didn't have any objection to charging interest, so they ended up running most of the banks. Christians couldn't charge people interest, but they could give money to Jews to invest, who were free to charge people interest and pass some of the profit back to the original investor.
Funny. I thought it was because the Israeli controlled media taught people to spend, spend, spend. And yes. Bernanke is part of Israeli World Domination.
Really? From what I understand, Arab people have no problem running banks that do not charge interest. That is why Israelis hate Arabs. If Arabs put their banks with no interest worldwide, how would Israealis support themselves? Right now, they make 25% interest on credit cards. They don't have to do a lick of work and they are the richest people in any western nation you choose. That is like saying a heroin addict has no objection to injecting heroin. They run the banks because money is a source of power. Power is used to further the goals of Israeli World Domination. You make it sound like they are mexicans taking work in the fields no one else will do.
Although Islamic banks claim to not charge interest, there is little practical difference between Islamic banking and traditional interest-funded banking from the perspective of a person getting a loan. If you want to buy a car in the U.S., you get a loan for the price of the car from a bank and use the money to pay the car dealer. You then pay the loan back with interest, which allows the bank to profit. If you can’t pay off the loan, the bank repossesses the car and sells it to someone else. If you want to buy a car in Iran through an Islamic bank, the bank itself purchases the car and then sells it to you at a higher price, then allows you to pay in installments. If you can’t afford to make the installment payments, the bank repossess the car and sells it to someone else. Technically the bank is not charging you interest; rather, they are profiting by selling you a product at well above the normal market price in exchange for allowing you to pay them in installments. However, the two situations are functionally the same – you make a lot of small payments over time that end up being more than the actual value of what you purchased, the bank profits, and the car gets repossessed if you stop paying. In fact, it could be argued that getting a loan with interest is actually a better deal, since you have the option of paying your loan off quickly (perhaps you got a better job and can now afford to make larger monthly payments) and saving on interest charges. Since with an Islamic pseudo-loan you are actually agreeing to purchase the item from the bank at a fixed higher price, you can’t save money by paying it off more quickly than you originally planned. Israelis hate Arabs mainly because of a series of land disputes, wars, and terrorist acts (on both sides). Differences of opinion on banking policies are pretty damn far down the list of reasons they dislike each other. There isn’t any obvious reason why western bankers couldn’t support themselves just as well under an Islamic-style banking system by making money on interest, uh, I mean, “selling a product above market value and accepting payment in installments.” Yeah...while the Islamic bank will simply sell you the car (or house, or whatever) at 25% above the retail price. That's actually a pretty accurate analogy for banking in the Middle Ages. Rich people (mainly feudal lords) wanted to make interest on their money, but charging interest on loans was considered sinful - so they gave it to Jews to 'invest' for them in exchange for a share of the profits, knowing full well that the Jews were probably going to loan it out to people at interest.
