how's this possible?

Prashanth Mundkur mundkur at ece.uci.edu
Wed Jan 27 10:49:10 PST 1999


Hi Doug and others,

On p.77 of Wall St., it says FIRE profits and salaries, as % of gross investment, hit 228% in 1932 -- meaning that allocators earned over twice as much as the investment funds they were allocating.

How do the allocators get paid? I thought they skimmed off a slice of the funds they allocated.

--prashanth



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