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Donald Trump to speak at CPAC in his first major public appearance since leaving


Billionaire Peterffy says wealthy NY in Florida is here to stay

(Bloomberg) – How much did Palm Beach real estate broker Lawrence Moens earn in the Covid-fueled boom? “At least $ 100 million,” Thomas Peterffy assumes a few days after Moens sold a house for $ 122.7 million. “At least,” Peterffy adds, laughing out loud. “Maybe he would laugh at the number. He looks like it’s $ 200 million, silly, or $ 300 million. Feeling comfortable making fun of Moens (who declined to comment) is just a sign of Peterffy’s insider status in this pampered enclave for the masters of the universe. The same may be true of his ease of inviting a reporter over to lunch at Mar-a-Lago, a stone’s throw from land he bought for over $ 20 million – you guessed it – in Moens. The main door of the club elicits a warm welcome. Soon I am sitting with the Hungarian-born founder and president of Interactive Brokers Group in the outdoor dining room. No one at the pool, croquet is on the club’s program. On a green stretch of lawn, the helipad installed under Donald Trump’s presidency is being demolished and, as Peterffy points out, planes are once again flying directly above their heads, dramatically punctuating the arrival of ‘a latte for him and a slice of Trump Chocolate Cake for me. The flight pattern interrupted during Trump’s presidency has resumed, Peterffy said, making it clear that it’s not as intrusive on his property.Playing golf Peterffy is in the midst of thinking about what he calls the difficulty of finding platforms to spread the ideologies of free enterprise, capitalism and personal freedom when he sees Brad Parscale marching towards Trump’s living quarters. Parscale was at the head of digital for Trump during his presidential race in 2016, and campaign manager in his second. And so the time has come to wonder what the next step is for Trump, recently stripped of a few platforms himself. “We don’t even know what he wants to do,” said Peterffy, who donated $ 250,000 to Trump’s campaign in 2017, and $ 7 million. to the GOP Senate Leadership Fund last year. “We hope as little as possible.” Peterffy, 76, postulated that Trump, 74, could easily take a step back from business and politics. “I think I’m really unique to work yet, but most people aren’t working. At this age anymore,” said Peterffy, who is worth $ 23.7 billion, according to the Bloomberg Billionaires Index. But Trump would like- Will he really retire? “He can play hours and hours of golf,” he replied. Peterffy decided to become a Florida resident in 2014, two days after Democrat Dan Malloy was re-elected for a second term as governor of Connecticut. “I was actually really crazy,” said Peterffy, whose Greenwich-based company is the world’s largest electronic brokerage. “I picked up my little bag and got said, ‘I’m not going to come back.’ “” This is incomparable “Now he has company arriving from New York, California and the Midwest. And it’s not temporary:” They won’t be coming back. ” , he said. “They love the weather, the schools, the life. It is incomparable.” At the dinners he attended on the weekends of Lastly, Peterffy said the conversations were about the way forward for Republicans. “The problem here is that the Republican Party is even less organized than the Democratic Party,” Peterffy said. “The far left of the Democratic Party, the Democratic Socialists, are the only organized political party in the United States that I know of. I studied Marxism and Leninism so I know how it works and the importance of organizing and organizing each day of the week. When it comes to trading, Peterffy also sees the need for better organization, especially after the GameStop frenzy he said Read more: Peterffy says markets are almost broken during GameStop Mayhem His solution: demand that short interest on stocks be declared daily, rather than twice a month, and short sales margin be increased by 1% for every additional 1% of short stocks. “It’s a simple change,” he says. “Until now, it wasn’t a problem because short squeezes are illegal, so no one has. But with social media, you can just drop a comment here and there and pretty soon we’re on the move. There is no specific person to organize that you could put in jail. This is why it is happening. Peterffy said that Robinhood Markets, the online brokerage firm that was a key player in the preparation of GameStop, and its co-founder, Vlad Tenev, “are attracting more media attention and blame than they get. deserve it. “They have 13 million accounts, with an average of $ 3,000 per account, or $ 40 billion,” Peterffy said. “Forty billion dollars is far too little to cause all the havoc in the markets they are often accused of.” As for Tenev, “he’s basically a programmer, he doesn’t understand the job very well; it’s obvious from what he said about some of those interviews, ”said Peterffy. “It’s okay, he doesn’t have to do it – on Wall Street, by convention, CEOs are always salespeople.” A Robinhood spokesperson declined to comment.Options TradingAt Interactive Brokers, Peterffy said he emphasizes educating young people so that they don’t end up losing a lot of money and staying in. market gap. Customers, for example, must pass a test before they can trade options. But the platform also has features designed to attract active and sophisticated investors. Peterffy said he learned options at the age of 24, working for a silver and gold trader. and appeals, but no one knows how to assess them, ”he said. “If you could figure out what they’re worth, we could make some money. And then he explained to me what put and call were. That’s all I knew about it. Peterffy did computer simulations “until a formula begins to take shape,” he said, noting that he had arrived at what is now called the Black-Scholes model, named after Fischer Black and Myron Scholes. Scholes won the Nobel Prize in Economics in 1997. “People ask me, ‘Why did he get a Nobel Prize and you didn’t? Peterffy said. “I often say, ‘He got the Nobel Prize, but I got the money.’” For more articles like this please visit us at Subscribe now to stay ahead with the most reliable source of business information. © 2021 Bloomberg LP

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