http://online.wsj.com/article/SB125547830510183749.html "The growth in compensation reflects Wall Street firms' rapid return to precrisis revenue levels. Even as the economy is sluggish and unemployment approaches 10%, these firms have been boosted by a stronger stock market, thawing credit market, a resurgence in deal making and the continuing effects of various government aid programs. The... [more]
http://online.wsj.com/article/SB125547830510183749.html
"The growth in compensation reflects Wall Street firms' rapid return to precrisis revenue levels. Even as the economy is sluggish and unemployment approaches 10%, these firms have been boosted by a stronger stock market, thawing credit market, a resurgence in deal making and the continuing effects of various government aid programs.
The rebound also reflects growing confidence by some Wall Street firms that they can again pay top dollar for top talent, especially once they have repaid the taxpayer-funded capital infusions they received at the height of the crisis. So far, regulators and lawmakers have focused on making sure pay practices discourage excessive risk-taking, leaving to companies the question of how much is too much."
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Response by Ubottom
over 16 years ago
Posts: 740
Member since: Apr 2009
printer has made clear that all he has to offer is his judgemental dbagness
any advice on how i should run my life?
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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
JM, siding with printer? that desperate?
Ubottom, yes i have some advice. you should be kinder to vikram. he has a stressful life and receives little reward.
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Response by printer
over 16 years ago
Posts: 1219
Member since: Jan 2008
steve - find me exact comps for apts that have gone into contract in the past 2 months, one for sale and for rent, at 2x. You can't use asking prices as the yardstick, because those are meaningless. The difference in clearing prices, rents vs buying, is starkly less than 2X. And you know it. Using idiot asking prices from wannabe flippers who are losing their shirts is meaningless.
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Response by printer
over 16 years ago
Posts: 1219
Member since: Jan 2008
oh about, here I thought we were almost friends....
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Response by xellam
over 16 years ago
Posts: 133
Member since: Sep 2008
Printer: How about clearing prices for apartments?
10/01/2009 - #ST70B - sold for 14.5M. Same apartment was for rent for 32k a month. That's more than 2x the rent, and yet someone still bought it.
but i want advice from the master of all judgement himself, printer
of course we know not at all from wwhence his expertise emanates
safe to assume he's a wonderful guy, no?
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Response by printer
over 16 years ago
Posts: 1219
Member since: Jan 2008
i was thinking of places a little more mainstream. at that price point, i don't think people are worried about their monthly outgoings.
ubottom - what would you like advice on?
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Response by JuiceMan
over 16 years ago
Posts: 3578
Member since: Aug 2007
"JM, siding with printer? that desperate?"
AR, are you just upset that printer's post was funny and that you were part of the punchline?
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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
Of course not. i've already mentioned my thoughts on printer's entry.
PA must be getting pretty cold.
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Response by Ubottom
over 16 years ago
Posts: 740
Member since: Apr 2009
postpartum's a bitch....
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Response by JuiceMan
over 16 years ago
Posts: 3578
Member since: Aug 2007
"PA must be getting pretty cold."
Yes, but Big Beaver is beautiful this time of year
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Response by notadmin
over 16 years ago
Posts: 3835
Member since: Jul 2008
"admin, in the last argument that i had with printer he/she accused me of being less than successful as a contributing member to society because i only had one child."
lol AR, i thought having less than replacement rate in a world with 6 billion people heading fast towards 9 billion was a huge service to society. maybe printer wants to make sure he/she gets SS and Medicare? i'm not gonna help out at all in that regard (pushing up the workers per retiree ratio). plan to have only 1 and happy with the decision.
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Response by LICComment
over 16 years ago
Posts: 3610
Member since: Dec 2007
Is steve making up rent ratios again?
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Response by stevejhx
over 16 years ago
Posts: 12656
Member since: Feb 2008
printer, they don't publish actual rents, only asking rents, so your request cannot be fulfilled. However, there are hundreds of posts on dozens of threads that show it.
LICC - HAHAHAHAHA! Go ahead, make up your own economic theory and stick by it. When you figure out that debits and credits must be the same, though, you might become disillusioned.
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Response by Rhino86
over 16 years ago
Posts: 4925
Member since: Sep 2006
Is any bull willing to make the argument that the appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002? Or would you all rather pretend history wasn't what it was? Or do I already know the answer? Discuss.
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Response by bjw2103
over 16 years ago
Posts: 6236
Member since: Jul 2007
"You can't use asking prices as the yardstick, because those are meaningless. The difference in clearing prices, rents vs buying, is starkly less than 2X. And you know it."
"printer, they don't publish actual rents, only asking rents, so your request cannot be fulfilled."
Steve, pretty sure printer meant acutal prices on sales. Actual rents are much tougher to find, but I think asking rents would be acceptable, maybe even with an estimated discount if you feel it's necessary. That should make the exercise much easier - and we're talking current sales, so I don't thin it's as easy as saying "there are hundreds of posts that show it" anymore.
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Response by bjw2103
over 16 years ago
Posts: 6236
Member since: Jul 2007
"Is any bull willing to make the argument that the appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002?"
Rhino, I'm not bullish, but I don't think you'll find many takers there. I don't get why you said "permanently" though - I don't think that's the case.
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Response by JuiceMan
over 16 years ago
Posts: 3578
Member since: Aug 2007
"appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002?"
No but I would argue that the "cost of renting" isn't fixed any more than the cost of owning is. There are multiple ways to close that gap.
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Response by nyc10022
over 16 years ago
Posts: 9868
Member since: Aug 2008
""The growth in compensation reflects Wall Street firms' rapid return to precrisis revenue levels. Even as the economy is sluggish and unemployment approaches 10%, these firms have been boosted by a stronger stock market, thawing credit market, a resurgence in deal making and the continuing effects of various government aid programs."
Juice, I'm confused... which part of this explains how you weren't completely wrong in your predictions?
printer has made clear that all he has to offer is his judgemental dbagness
any advice on how i should run my life?
JM, siding with printer? that desperate?
Ubottom, yes i have some advice. you should be kinder to vikram. he has a stressful life and receives little reward.
steve - find me exact comps for apts that have gone into contract in the past 2 months, one for sale and for rent, at 2x. You can't use asking prices as the yardstick, because those are meaningless. The difference in clearing prices, rents vs buying, is starkly less than 2X. And you know it. Using idiot asking prices from wannabe flippers who are losing their shirts is meaningless.
oh about, here I thought we were almost friends....
Printer: How about clearing prices for apartments?
10/01/2009 - #ST70B - sold for 14.5M. Same apartment was for rent for 32k a month. That's more than 2x the rent, and yet someone still bought it.
http://www.streeteasy.com/nyc/building/25-columbus-circle-new_york
http://www.streeteasy.com/nyc/rental/500136-condo-25-columbus-circle-lincoln-square-new-york
but i want advice from the master of all judgement himself, printer
of course we know not at all from wwhence his expertise emanates
safe to assume he's a wonderful guy, no?
i was thinking of places a little more mainstream. at that price point, i don't think people are worried about their monthly outgoings.
ubottom - what would you like advice on?
"JM, siding with printer? that desperate?"
AR, are you just upset that printer's post was funny and that you were part of the punchline?
Of course not. i've already mentioned my thoughts on printer's entry.
PA must be getting pretty cold.
postpartum's a bitch....
"PA must be getting pretty cold."
Yes, but Big Beaver is beautiful this time of year
"admin, in the last argument that i had with printer he/she accused me of being less than successful as a contributing member to society because i only had one child."
lol AR, i thought having less than replacement rate in a world with 6 billion people heading fast towards 9 billion was a huge service to society. maybe printer wants to make sure he/she gets SS and Medicare? i'm not gonna help out at all in that regard (pushing up the workers per retiree ratio). plan to have only 1 and happy with the decision.
Is steve making up rent ratios again?
printer, they don't publish actual rents, only asking rents, so your request cannot be fulfilled. However, there are hundreds of posts on dozens of threads that show it.
LICC - HAHAHAHAHA! Go ahead, make up your own economic theory and stick by it. When you figure out that debits and credits must be the same, though, you might become disillusioned.
Is any bull willing to make the argument that the appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002? Or would you all rather pretend history wasn't what it was? Or do I already know the answer? Discuss.
"You can't use asking prices as the yardstick, because those are meaningless. The difference in clearing prices, rents vs buying, is starkly less than 2X. And you know it."
"printer, they don't publish actual rents, only asking rents, so your request cannot be fulfilled."
Steve, pretty sure printer meant acutal prices on sales. Actual rents are much tougher to find, but I think asking rents would be acceptable, maybe even with an estimated discount if you feel it's necessary. That should make the exercise much easier - and we're talking current sales, so I don't thin it's as easy as saying "there are hundreds of posts that show it" anymore.
"Is any bull willing to make the argument that the appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002?"
Rhino, I'm not bullish, but I don't think you'll find many takers there. I don't get why you said "permanently" though - I don't think that's the case.
"appropriate relationship between the cost of renting and the cost of owning fundamentally and permenantly changed after 2002?"
No but I would argue that the "cost of renting" isn't fixed any more than the cost of owning is. There are multiple ways to close that gap.
""The growth in compensation reflects Wall Street firms' rapid return to precrisis revenue levels. Even as the economy is sluggish and unemployment approaches 10%, these firms have been boosted by a stronger stock market, thawing credit market, a resurgence in deal making and the continuing effects of various government aid programs."
Juice, I'm confused... which part of this explains how you weren't completely wrong in your predictions?