Alan Dlugash is a partner at Marks Paneth & Shron who specializes in "tax planning and financial analysis for high net worth individuals "and their related business entities." He's based in New York so you know Al has had some BSDs come into his office demanding the finest wealth planning advice that their money can buy. Like any good CPA, Dlugash understands his clients' needs, hopes, dreams, all that crap. It's his job to make sure all these things go according to plan. However, the downturn in Wall Street compensation has forced many to put the brakes on those dreams and people like Al have to guide these people through the stress and disappointment of these shattered dreams. Something the likes of the peasants in this country can't possibly imagine:
“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”
Sure, you may be feeding your kids sub-standard food, dressing them in hand-me-down clothes, and driving them them to poor-kids soccer practice in a Pinto running on fumes and three flat tires but until you join the 1%, try having some sympathy, okay? This has been really hard on everyone.
Wall Street Bonus Withdrawal Means Trading Aspen for Coupons [Bloomberg]
“I believe the available market is smaller than the bulls believe it to be and that Green Mountain has already penetrated a good chunk of it,” Einhorn, president of Greenlight Capital Inc., said today during his so-called “GAAP-uccino” presentation at the Value Investing Congress in New York. “The market is limited,” he said. The company also has a “litany of accounting questions,” Einhorn said, adding that it has reduced transparency and needs to improve disclosure. [