r/news Jan 14 '22 Silver 19 Gold 1 Helpful 19 Wholesome 18 Evil Cackle 3

Shkreli ordered to return $64M, is barred from drug industry

https://apnews.com/article/martin-shkreli-daraprim-profits-fb77aee9ed155f9a74204cfb13fc1130
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975

u/_mach Jan 14 '22

I wonder how much money that 100 million has made him in the interim, too...

the absurd fact is that money makes people richer, which is part of the inequality equation here.

237

u/CptTurnersOpticNerve Jan 15 '22

If he wasn't the kind of moron that spends money on exclusive albums he should easily be able to live off interest

235

u/hardknockcock Jan 15 '22 edited Jan 15 '22

That album is legitimately a better investment than more things you would think.

-This is a sponsored message from Wu-Tang financial-

106

u/cfetzborn Jan 15 '22

Protect yo goddamn portfolio! Shit was basically the first NFT

45

u/Juicepit Jan 15 '22

You need to diversify yo bonds

2

u/purplppleatr Jan 15 '22

Protect ya got damn neck

1

u/terfsfugoff Jan 15 '22

What about like, every painting or sculpture ever?

1

u/cfetzborn Jan 15 '22

This is true, but their are reprints and forgery’s. Sorta different I think.

1

u/terfsfugoff Jan 15 '22

How is that different from NFTs

1

u/cfetzborn Jan 15 '22

Can’t forge the original NFT, it’s in the blockchain. You can save a screenshot though, I’d argue that’s different.

18

u/Nord4Ever Jan 15 '22

Diversify yo bonds!

3

u/295DVRKSS Jan 15 '22

Well cash rules everything around me

2

u/koreanjc Jan 15 '22

PleasrDAO is goin to be releasing it.

2

u/BaldOrzel Jan 15 '22

Smith Barney? Buncha bitches

2

u/ommi9 Jan 15 '22

Diversity yo bonds…..

2

u/Finklax31 Jan 15 '22

WU-Tang is for the children…

1

u/NastySassyStuff Jan 15 '22

Clout rules everything around me

225

u/iVirtue Jan 15 '22

His investments were spot on. Just look at REGN. It probably did better than he even expected thanks to covid.

21

u/timisher Jan 15 '22

Stocks damn near doubled since he was in jail.

6

u/bubumamajuju Jan 15 '22

And the biotech stocks he played went up a lot more. If he could actively trade through the pandemic I’m sure his portfolio would be up massively.

24

u/Most_Association_595 Jan 15 '22

Lmao this is poor people mentality right here You can have your playthings, just make sure you’re on top of your game. You really think a 1 million album is a drop in the bucket compared to his nw? Plus you’re still taking about it like 6 years after this happened

1

u/suitology Jan 15 '22

His personal net worth is 80m. So that's 1/80th of a bucket which would be many drops

2

u/Most_Association_595 Jan 15 '22

Uh no 1.25 percent is a drop in the bucked. If you have 400k next worth, you can definitely afford to splurge 5k on something nice. Also, where exactly are you getting that number from? I’m pretty sure I read his nw > 100mm

0

u/suitology Jan 15 '22

A drop is less than 1.25% of a bucket

1

u/Most_Association_595 Jan 15 '22

Oh fuck off with this nonsense. The point is that it’s inconsequential

1

u/suitology Jan 15 '22

If he has a habit of these purchases then no it is not

1

u/Most_Association_595 Jan 16 '22

no one is arguing about that.

4

u/Barkwits Jan 15 '22

You're the moron dude. Scarcity creates value.

3

u/gearnut Jan 15 '22

Not quite, demand relative to supply creates value until the market cannot pay the cost.

There is a limited amount of demand for an exclusive record which was initially valued at a high cost.

4

u/youdubdub Jan 15 '22

One would think everyone has lost interest in that conveniently-scapegoated bag of dicks by now.

2

u/Lost4468 Jan 15 '22

Dude's a massive prick, but from what I have seen of him he lives well within his means. He does weird shit like the albums, but that's about it.

In reality though I think he's just lying about half the shit. Dude's pharmacy knowledge is flakey as fuck yet he would stream hours of himself trying to design new drugs and shit.

I don't know how much money he really has. I'm sure it's a lot, but $100m I doubt.

1

u/fnordal Jan 15 '22

he also bought high end magic cards. They are safer than gold, and grow much more.

-20

u/Flaky-Illustrator-52 Jan 15 '22 edited Jan 18 '22

Not at current rates lmao, that 0.01% interest rate in a savings account gets you $10,000 annually

Not that you'd put 100mil into a savings account anyway because that's stupid

Edit: why are you booing me? I'm right

0

u/Wild_Property7613 Jan 15 '22

Oooh it’s that idiot!! I knew his face was familiar!

23

u/GoodLordShowMeTheWay Jan 14 '22

Risk that resolves favorably makes people richer.

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u/[deleted] Jan 14 '22

[deleted]

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u/airrivas Jan 15 '22

So risky it seems everyone with more than a few mill seems to benefit. They’re so brave and brilliant, all of them!!

6

u/dizao Jan 15 '22

Risk is only a problem if you don't have enough money to keep paying your bills when shit hits the fan. At that point it just becomes opportunity.

-1

u/bubumamajuju Jan 15 '22

The risk isn’t any fundamentally different for either. Maybe less risk for congresspeople who can legally make insider trades but you can buy an index and do just a well as most hedge funds

1

u/Dropkickmurph512 Jan 16 '22

What?? being a rich investor just means you can increase risk. It definitely didn't disappear for shkreli or at least his investors when he blew up 2 hedge fund in a matter of days by over leveraging on biotech options. Margin calls don't discriminate.

1

u/slimb0 Jan 15 '22

May the road rise up to meet you, and may all of your risks resolve favorably

2

u/my_girlfriend_sucks Jan 15 '22

On a 5% return he could’ve made…some pretty huge amount of money I’m sure

5

u/lubbin604 Jan 15 '22

5% ? The SPY 500 was up 25% last year. 5% does not even beat inflation in this current crazy world we live in

1

u/[deleted] Jan 15 '22

[deleted]

3

u/varrock_dark_wizard Jan 15 '22

You're insane if you don't think he's 60/40 equities and bonds, dude probably made atleast 20% last year. Just holding spy and bonds.

0

u/[deleted] Jan 15 '22

[deleted]

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u/bubumamajuju Jan 15 '22

The guy is still young, understands more than most people that holding bonds at this point in time is shitty, and he would have had a once in a lifetime opportunity for biotech plays. No chance he would have sat on his hands with a conservative portfolio like some retiree - he would have chases making a lot more money and probably made it

2

u/yourmomlurks Jan 15 '22

I am a very small time investor and my returns are pretty consistently better than 5%. Think more 30+%. Thats how someone like lance armstrong can return all the money hes ever made. Because it doubles and doubles and doubles very very quickly. By the time of the refund it is nominal.

2

u/youdubdub Jan 15 '22

Here, have this complimentary more money to go with your already money, sir. Would you care for a free foot rub or belly oiling?

4

u/Flaky-Illustrator-52 Jan 15 '22

Money actually becomes less valuable by the second if it just sits there doing nothing (unless deflation). How your money makes you richer is you give it to other people in large quantities so they can build their grand ideas, then they give you part of their earnings in exchange for you helping them. That way it's worth your time to help them in the first place. It's pretty intuitive if you think about it since everyone deserves to be compensated for any work, risk, and time, but I guess it can be seen as absurd when viewed externally

1

u/GloriousReign Jan 15 '22

A theory of economy that's greater than the current one.

Person A has an income/paycheck/ability. They Individually add up how much it costs to sustain themselves/their lifestyle before combining with person B who has done the same. Each would take turns spending from this surplus before passing it off the next time either one of them produces.

This produces value at a greater rate than the current one because both will have more resources to drawn from and thus gets thrown back into the system before starting again. So the more person A gains the more B gets and the more they earn together the more they can gain individually, continuously compounding as time goes on.

With the inclusion of more people, say for instance person A found someone else to rely on, the system overall becomes more robust and less likely fail (like in the event either become jobless).

Once enough has been gained there will likely be a moment where the person, group or groups completely separate from the market/reliance and depend only on what they produce themselves. In which case, assuming the same quality of living is chosen for themselves first and foremost, the system itself is likely to reproduce infinitely.

1

u/reineedshelp Jan 15 '22

Are you an angel?

0

u/benfranklyblog Jan 15 '22

Money doesn’t make people richer by itself, but having a lot of money allows the vast majority of it to stay in investments and work for you. My investments grow about 30% a year between market growth and my contributions, it’s a healthy amount for me, but imagine if you have millions to work with.

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u/mmm_burrito Jan 15 '22

What you've said is a needlessly pedantic form of "money makes people richer."

Nobody didn't know that it took investments to grow the money, but hey, you got to brag on your 30%, so I guess you've got that going for you.

0

u/benfranklyblog Jan 15 '22

If you read most of Reddit it is very clear that no, people do not at all understand that the money of the rich is in investments and they aren’t swimming around in it like Scrooge McDuck all the time in a big bank vault.

0

u/mmm_burrito Jan 15 '22

Been here very nearly since the beginning, bud.

There have always been the ignorant few and the condescending majority. Guess which group you and I belong in, sweet cheeks?

1

u/bubumamajuju Jan 15 '22

You’re both in the condescending majority? Do I win a prize or something? If I can request one: perhaps mega-minds over there’s next stonk pick that returns 30+%.

1

u/Whiskey-Weather Jan 15 '22

The fact that access to resources of any kind makes access to further resources easier is simply an innate property of currency. That part of the system can't go, not for any philosophical or moral reasons, but because it's an opportunity that's inseperable from having any money at all.

1

u/jimmifli Jan 15 '22

the absurd fact is that money makes people richer, which is part of the inequality equation here.

r > g

1

u/relevant__comment Jan 15 '22

He put most of it in GME before he went in.

…/s

1

u/jesuzombieapocalypse Jan 15 '22

I mean it’s not absurd, it makes perfect sense, if you have money you can buy things, including things that increase in value. It’s simple momentum, it’s just unfortunate for the people who don’t have enough to get buy through no fault of their own.

1

u/redditsufferer Jan 15 '22

100% false, only smart people with a lot of money get more money...

1

u/G0ldenG00se Jan 15 '22

And it’s not like he went to any federal “pound me in the ass” prison either.

1

u/Morbo_Doooooom Jan 15 '22

Here's the thing about us. Our culture and economic system is all about gaining momentum. When you have the ability to gain momentum that's when you hear about rags to riches and such. This even applies to things like YouTube or running a business, ideologies and cultural icons. Hell, If you have a roth ra and 401k you'll be strait loaded when you get old.

I really hope they could create a true public option healthcare and push more people into trades. (Most places cannot keep up with demand if we had more people it would actually be a great work life improvement)

(Also would be nice if people went to friken urgent care instead of the ER)

(Deflate the school cost and more people will have fulfilling cheap careers I work a trade myself so I got zero debt)

1

u/tisnp Jan 15 '22

How is that an absurd fact? If you replace the money, it's common sense. If you had 10 seeds you can grow 10 plants, 1 seed grows 1 plant. Of course having more money makes you richer.