Porsches super yachts, multi-million dollar, french houses, it's very common for wall street to be associated with wealth and opulence. Well, after 2021, the life of a wall streeter got that much wealthier and that much opulencier, i don't know whatever it is. It paid a lot to be involved with wall street in 2021, and i wanted to take a second to make this video to kind of remind people. One of the many reasons of why we're having really in the middle of a retail revolution.

Now, i'm in no way against people making money, but i'm against some of the ways in which they make it and i'm also commonly against the elitism and the cronyism that we see. That's also connected with wall street and wealth and opulence. So before we kind of get into that to see things in a general view, i want to dive into how lavish the life of a washer has recently become porsches super yachts and seven million dollar manhattan, pier attes. I'm well aware.

I just completely butchered that word. If i'm being forthcoming with you relative to these people, i'm not rich enough to even know about this word, i had to look it up and try to go through the pronunciation of it. I just never heard of it. It's a french word.

That basically means you have a second home, that's ornate and beautiful, but i'll call it a manhattan pie day, terry's a little bit easier for me inside the flurry of luxury spending spawned by wall. Street's record bonus season the stories you're about to hear it's crazy cars. We have high fashion, we have expensive restaurants, we have yachts like all this stuff nuts, nuts nuts. You got ta check some of this out.

So there's this guy michael taber, who he's the guy, who connects very rich people to apparently luxury yachts. Here i was thinking, yachts were expensive boats, but apparently there's like a whole other amount of luxury. On top of that, some of his climates are scouting are hoping to go close. The deal with in the next month on boasts of at least roughly 100 feet, and some of them are looking for double that 230.

Others of them who maybe just don't want to buy a yacht, they're still looking for inquiries to arrange island charters, i'm assuming in beautiful places such as like the mediterranean, our clients told us - i never expected to make as much money as i did last year. So i'm rewarding myself statements like that. I kind of find it to be a little bit interesting just to see the disconnection, especially between 20 and 21. There was a lot of people feeling like extreme financial pressure and then other people in certain sectors of this world.

One of them being wall street made an absolute killing made the most money they've ever made after years of tamping down bonuses after getting pillared for big paydays in the week of the financial crisis, it's raining money again. The biggest banks posted record earnings last year. Amid a boom in deal making that is lifting all boats and increasing competition for talent, the specifics that we're about to get into it, it's just insane these - i don't even know if the human brain can truly conceptualize. How big some of these numbers are.

Bonuses have elevated financial leaders top comp to staggering levels. This past year, goldman sachs, ceo, david solomon, saw his total pay, reach 35 million double what he earned just two years ago, 17.5 million. Meanwhile morgan stanley, boss, james gorman, pulled in 35 million as well. In total.

Con for 2021 and jp morgan chase cu, jamie dimon earned 34.5 million. He must be a little bit pissed off. Well, he got shorted by 500 000 there like compared to these other ceos. Those numbers are jaw dropping 35 million in a year, crazy, crazy, crazy, but check out how some of them are actually choosing to spend it.

So matching porsches no finances two directors at a large cap investment bank who were recently on the verge of being promoted, decided to throw caution to the win and bought matching porsche 911s to celebrate a wild year in the capital markets. You know for me when i'm throwing caution to the wind. What i end up doing i just get. I get that second bottle of sangria, i'm like okay, one for the weekend, but i'm like yeah might have been a good week.

Let's get two, i've never thought. I should get matching porsches and despite near zero interest rates, some of these buyers were skipping financing and buying their vehicles outright. Just a little, i guess, cherry on the top like clockwork, the entry-level female bankers would head out to new york's multiple chanel boutiques. After bonus days to pick up a standard issue, black quilted bag - so it's just not, i guess more of the male dominated like.

Let's get the fancy high level cards you're, even seeing some of these females - and i believe, chanel most likely very expensive, very nice. But then there was another one that i had to read right here: prive porter. I think this is just like the pi day. Terry's thing: it's just another fancy word that i never heard of before, but i'm sure, if you're a female watching this there's a good chance that you know this is like a very, very high-end luxury brand and with these bonuses coming in we're, seeing a huge uptick In business for these high-end luxury brands, the least costly birkins that prive porter sells is starts at 20 000.

They go up to three hundred thousand for the most precious bags fashioned from rare leather or in a scarcely available color. I don't know like one of these like secret, nfts or something i i just don't get that three hundred thousand but hey that's what i guess they want to spend their money on it's what they want to spend their money on. On top of it. Of course, there's people getting extra homes, some clients are from san francisco, picking up very expensive homes.

In new york. We have other people who are on wall street, trying to get homes in miami another one in miami first, one going for 7 million the next one. Going for 2.5 million, the third one going for 3 million - this is just like some stories from a couple of these brokers. Imagine how many aren't being reported in this story.

I don't think the ceos like jamie dimon are going around saying all the big expensive things that they're actually purchasing those things that were just more publicly available in terms of their pay. But i think, like the ultra ultra wealthy they're, not going to be, i guess, putting in an article the thing that they're currently purchasing uh and then, of course you have to do it with art. You have people getting very, very expensive food which hey. I get that that's a bit of an experience, but on top of it, a wall street businessman bought a portrait of the american artist jean michelle and the photographer was richard corman, the galleries art pieces start at 15 000 and go up to 40 000.

literally. Just came from the restaurant and bought that portrait right off the wall, crazy, crazy, crazy and then the final one i had for you and this one is the one i personally actually understand the most. It still seems absurdly expensive, but at least they're spending the money on their kids 50. 000.

A year for kindergarten, i mean that's more expensive than some college tuitions for a year than a lot of college tuitions for a year and they're spending it on kindergarten. That's absolutely ridiculous. One banker told insider that he and his wife are considering using the money towards private school for their child, who is entering kindergarten. He estimated that a private kindergarten in new york city would cost a family upwards of 50 000 per year.

You know to me and like i don't care what they really do with their money. I think it is a little bit better than i don't know. Um, a car, a yacht like at least it's going to their kid, hopefully for a better education, but i just questioned how in the world is any kindergarten education, possibly worth thousand dollars a year? I hope you enjoyed that little sneak peek into the world of wealth. For all these people on wall street at least the way it played out over 2021, we had record salaries, we had record bonuses and, if i'm being really honest with you that doesn't bother me just seeing their money and what they choose to spend it on.

I i it doesn't matter to me, hey whatever they apparently did something that society values enough, that it was worth that good for them, the power to them all the power to them. Where i have an issue with all this is like. Okay, did you make money by making a legitimately good idea and execute on that trade, or did it come from insider information? Did you have a good forecast, or did someone tip you off on the other thing, i'm not necessarily just against typical short selling hey. If you thought a company was overvalued and it's going to come down and you shorten it, you made money all the power to you or was it stock bashing? Did you somehow engage in naked shorting on the other side of that? Okay? Were you making a lot of money as a market maker providing liquidity great? We need that, but were you doing it at the risk of the clients from these brokerages not getting better execution? Were you using this information? Your asymmetric data information to trade against a whole fragmented group of people increasing the fragility of the market.

So, overall, that's what i'm trying to say and it's like a weird line to balance like do i care that some of these people, what i would consider making money in legitimate ways, nope no issue with that, but we know over this past year, especially in 2021, That there's been a lot of groups, particular funds, particular market makers who made a lot of money and what i would argue that a lot of apes, a lot of retail investors when they really dove into it, wouldn't be the happiest about all. I want to remind you that this retail revolution that we're currently living in it's happening for many reasons, there's an entire myriad of reasons. But to me one of the reasons one of the many is that we get these people who somehow acquire great wealth and then all of a sudden, because they have that it gets into this world of elitism and cronyism. And it's this better than thou sense.

When it's like, okay, are you really that good and were you successful or did you only get up to that level because you were pushing other people down? I think there's a fine differentiation there and i think that it's safe to say across wall street. Not everyone did it in what i would consider to be an above board manner with all that being said, these are just my thoughts and i would love to get your thoughts in a comment below. If you haven't already, it would be awesome if you could hit that like button and don't forget to join up with the moon gang by hitting the subscribe button thanks for spending your time with me i'll catch you in the next video you.