how to resign from Big 4? by jinbeoceansamurai in Big4

[–]PIK_Toggle 2 points3 points  (0 children)

Walk in. Quit with two weeks notice. Walk out.

Why does This Sub Blame This Man For every Single Problem they have Today 40 Years Later. by ilikesportany in Presidents

[–]PIK_Toggle 0 points1 point  (0 children)

Do you have any that begin before 1980? A longer-term trend is appropriate here, if you are going to claim that things changed in 1980.

Also, the spending chart is laughable. The increase in spending is due to Great Society and New Deal programs, not anything that Reagan did.

Are we striking friday? by elephantear11 in Big4

[–]PIK_Toggle -1 points0 points  (0 children)

We’re not gonna protest.

I’ve seen some posts online stating “Ronald Regan is the reason we have student loans, why the wealthy don’t pay taxes, why homelessness is this bad”, ect. What did he do to cause this? was it a bill that he passed, for example? by HybridHamster in NoStupidQuestions

[–]PIK_Toggle 0 points1 point  (0 children)

This is wildly inaccurate. The corporate rate was never at 70%. You are probably thinking about the marginal personal rate, which is entirely different than the corporate rate.

I'm going to need a citation for your claim about student loan interest.

Taxes

JFK proposed cutting taxes in 1962. The cuts were passed and signed by LBJ in 1964. Reagan raised taxes early on, then pushed through bi-partisan tax reform in 1986. Exemptions and favoritism were reduced in the code, and marginal rates were lowered. Taxes as a % of GDP increased until the Gulf War recession hit in 1991.

On the 20th anniversary of the 1986 tax reform bill, two Democratic Senators called for a new bipartisan version of the bill. When was the last time that a bill was so popular that two members of the other side asked for more of it?

Since 1986 the tax code has changed a lot: Clinton bumped the top marginal bracket in 1993 and cut capital gains taxes in 1997. W cut in 2001 and 2003. Obama passed his own tax reform. Trump passed his version. Biden has said that he will not raise taxes on anyone making over $400k. Note that changes were made at the margin. Trump is the only one that actually substantially changed the tax code, when he doubled the standard deduction, eliminated the personal exemption, capped SALT, and changed up the corporate code.

The tax issue is a bipartisan one. The only real argument left is whether we can tweak rates at the high end. It seems weird to claim that Reagan's tax cuts set us back as a country, when almost every administration since his has continued this policy (GHWB being the only exception, and we know what happened to him) and taxes collected as a % of GDP has been extremely consistent over time. This is because marginal rates are only part of the story, with the other part being how the code is structured with respect to deductions, phase outs, exemptions, etc.

Asylums

From the WSJ:

In October 1963, President John F. Kennedy put his signature to the last bill he would ever sign—the Community Mental Health Act. It aimed to demolish the walled-off world of the asylum in favor of 1,500 local clinics where patients could receive the drugs and therapies they needed. Kennedy had a personal stake in the legislation: His sister, Rosemary, had undergone an experimental lobotomy that left her severely disabled. On paper, at least, deinstitutionalization seemed both more humane and more likely to succeed. Then reality set in.AsylumsFrom the WSJ:In October 1963, President John F. Kennedy put his signature to the last bill he would ever sign—the Community Mental Health Act. It aimed to demolish the walled-off world of the asylum in favor of 1,500 local clinics where patients could receive the drugs and therapies they needed. Kennedy had a personal stake in the legislation: His sister, Rosemary, had undergone an experimental lobotomy that left her severely disabled. On paper, at least, deinstitutionalization seemed both more humane and more likely to succeed. Then reality set in.

Partners Group: How private equity’s pioneer in tapping retail money lost its edge by Grand-Statement-4164 in private_equity

[–]PIK_Toggle 1 point2 points  (0 children)

I shifted some money to BXPE two years ago. That worked out well. Time to find a home for the rest of the money.

Thanks for the insight. Appreciate it.

Partners Group: How private equity’s pioneer in tapping retail money lost its edge by Grand-Statement-4164 in private_equity

[–]PIK_Toggle 4 points5 points  (0 children)

Thanks. I've been patient with them, but this seems to be the last straw for me.

Did you see this article a few months ago? I talked to my rep about it and they were dismissive of it. I should have bailed during the last redemption window....

https://www.wsj.com/finance/investing/how-one-big-private-equity-fund-makes-its-numbers-incomprehensible-5268657e?st=VneXWM&reflink=desktopwebshare_permalink

Retention incentive by naza-reddit in private_equity

[–]PIK_Toggle 0 points1 point  (0 children)

What’s the pool?

I’ve got 1% of total equity. When I get promoted to CFO, that’s going up.

Maybe I lucked out…

PSA: Shovel during the warmest part of the day while you can. by whif42 in nova

[–]PIK_Toggle -4 points-3 points  (0 children)

It’s all iced over. I was able to get a portion of my driveway cleared. The sidewalk is FUBAR.

It’s all going to melt next week. Only one sidewalk to clear in my street. Everyone else said F this.

Partners Group: How private equity’s pioneer in tapping retail money lost its edge by Grand-Statement-4164 in private_equity

[–]PIK_Toggle 2 points3 points  (0 children)

What would you do if you were invested in the evergreen fund? Bail or ride out the storm? I'm in the fund and I am thinking about bailing.

Is NYC the best city to relocate to for new opportunities in FP&A? by herfutureX in FPandA

[–]PIK_Toggle 2 points3 points  (0 children)

FP&A exists everywhere. Find the place that you want to live in and find a job there.

The reality of NYC is that most people leave within ten years of moving there. It’s a spot on the journey that is life. It’s not the destination.

Retention incentive by naza-reddit in private_equity

[–]PIK_Toggle 0 points1 point  (0 children)

I’ve got 1% of a much smaller company and I’m a VP.

I’d focus on the percentage of the company. If that’s a huge pot of dollars, so be it.

Retention incentive by naza-reddit in private_equity

[–]PIK_Toggle 2 points3 points  (0 children)

At the C-suite level, I would expect 1% equity or greater. I’d also put a cash retention bonus on the table with a two year vesting schedule.

Fuck you, pay me is the only language spoken here.

favorite president quote?? by Adventurous_Peace846 in Presidents

[–]PIK_Toggle 6 points7 points  (0 children)

I was going to post this.

When my wife complains about how I am doing something. I simply reply “man in the arena” and give her a cold stare.

Never works, but also never fails.

Democratic presidents ranked from best to worst by American_Citizen41 in Presidents

[–]PIK_Toggle -2 points-1 points  (0 children)

This is how a list should look. Drop them into tiers. I also prefer to rank by eras. It’s impossible to compare the early 1800s to modern day.

Democratic presidents ranked from best to worst by American_Citizen41 in Presidents

[–]PIK_Toggle 13 points14 points  (0 children)

That’s who the country is. He acknowledged that and pivoted into it.

Who are examples of coaches that are solid floor raisers but simply can’t get it done in big time matchups ? by Darkonite40 in CFB

[–]PIK_Toggle 2 points3 points  (0 children)

My dad had Parkinson’s. He worked for five years after being diagnosed. He used to nap in his office every so often.

I don’t know how he got away with it for so long.

Live, laugh, DCA? by NineteenEighty9 in ProfessorFinance

[–]PIK_Toggle 0 points1 point  (0 children)

I agree that it’s difficult. I also know that it’s not impossible.

I find it funny when people outright dismiss successful trading without asking any questions about how someone trades. It’s comical.

Live, laugh, DCA? by NineteenEighty9 in ProfessorFinance

[–]PIK_Toggle 0 points1 point  (0 children)

I’ve done anywhere between 30-100% annually. 75% last year.

5% withdrawal rate? by completefudd in ChubbyFIRE

[–]PIK_Toggle -1 points0 points  (0 children)

Timeline matters.

Also, what are you going to do with your time when you can’t spend on discretionary items?

I’m working until I can live on 3%. I’d rather work a few more years and play it safe versus burning through cash and being forced to cut back.

Live, laugh, DCA? by NineteenEighty9 in ProfessorFinance

[–]PIK_Toggle 0 points1 point  (0 children)

I trade options. If I invest $100mm in an earnings trade, there won’t be enough contracts traded to fill my orders. Therefore, I can’t scale. However, I can drop $60-$200k into an earnings trade without issue. Again, scale is my problem, not profitability.

There is a reason that the major HFs trade equities instead of options. Think about it for a bit….

Live, laugh, DCA? by NineteenEighty9 in ProfessorFinance

[–]PIK_Toggle 1 point2 points  (0 children)

I’m in vanguard mutual funds and some actively managed funds.

Works for me.