Wednesday, 22 October 2014
Last updated 37 min ago
Sep 13 2011 | 1:48pm ET
President Barack Obama formally sent his proposed jobs-creation bill to Congress yesterday, one that would close the carried interest loophole and more than double the amount that hedge fund and private equity managers would pay on some of their income.
The president's plan would cost $447 billion, which would be used to cut the payroll tax and to pay for infrastructure programs. Obama would pay for it by raising taxes on the wealthiest Americans.
Among the key provisions is a plan to raise $18 billion by taxing alternative investment managers' performance fees as earned income, rather than capital gains. The former top tax rate is more than twice as high as the latter.
Obama has indicated that he would be willing to take his plan in pieces, with, for example, the payroll tax cut coming first. He may have to, as senior Republicans in Congress have indicated that the president's plans to raise revenues are all-but dead on arrival.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...