This is old news but still interesting, this year it was won by a cdn. hedge fund company Salida Capital. the firm has just over 300 million dollars ( under management, a month ago).
actually the 1.68 milliion is probably 10-15% of the firms earnings last year. the bid is lower than the 2.1 million paid last year. though the trend has been sharply higher through the years.
the money goes to Glide a San Francisco charity to help the poor.
for the money you get to have eight people sit down and eat lunch with Warren Buffet at Smith and Wollensky in New York. the restaurant provides the meal for free and gives $10,000 to the charilty.
the question is this a good use of the firms money, since they are private that is up to them, and maybe clients who have money with them....(their performance has been very volatile, if resources go up they do well, they fall, they get crushed...resource bulls, at least in the past.)
they could have hired a small army of accountants to go over companies balance sheets for possible shorts, or longs. you can buy a great deal of talent with ambition for 1.68 million.
then again any firm or indivual probably get far more in free publicity. there are have been dozens and dozens or aritcles, and also will be after the lunch...you probably get more pr, than 1.68 million or even 20 million could buy.
not sure who I would pay to have lunch with for charity but it is an interesting question? it would have to be cheap since.....well not cheap...and it would have to be a charity believe in or thought was worthwhile.
thanks
selkirk
actually the 1.68 milliion is probably 10-15% of the firms earnings last year. the bid is lower than the 2.1 million paid last year. though the trend has been sharply higher through the years.
the money goes to Glide a San Francisco charity to help the poor.
for the money you get to have eight people sit down and eat lunch with Warren Buffet at Smith and Wollensky in New York. the restaurant provides the meal for free and gives $10,000 to the charilty.
the question is this a good use of the firms money, since they are private that is up to them, and maybe clients who have money with them....(their performance has been very volatile, if resources go up they do well, they fall, they get crushed...resource bulls, at least in the past.)
they could have hired a small army of accountants to go over companies balance sheets for possible shorts, or longs. you can buy a great deal of talent with ambition for 1.68 million.
then again any firm or indivual probably get far more in free publicity. there are have been dozens and dozens or aritcles, and also will be after the lunch...you probably get more pr, than 1.68 million or even 20 million could buy.
not sure who I would pay to have lunch with for charity but it is an interesting question? it would have to be cheap since.....well not cheap...and it would have to be a charity believe in or thought was worthwhile.
thanks
selkirk
Last edited:
