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Fauci a millionaire, so what

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  • Fauci a millionaire, so what

    https://nypost.com/2022/01/15/dr-fau...n-investments/

    I know not the best news source in the world, but after reading this, I though so what? Good for him. Why all the hate? I'm sure this is tame compared to members of congress!

  • #2
    He should be a millionaire. In fact, he probably should be the decamillionaire he is. He's an 81 year old physician who is still working. Glad to see he is smart enough to use mutual funds.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

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    • #3
      Agreed. He’s been a well-compensated govt employee for. . .5 decades? I think?

      I’m glad he socked away and managed his money responsibly - and he won’t really even need it! He’s due a 350k/yr pension. That’s a paradigm to emulate

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      • #4
        $350k/yr is a heck of a pension. I wonder if he'll ever retire?

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        • #5
          Could WCI get him on a podcast? Could be interesting to interview the guy.

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          • #6
            Yeah he's been working for the gov since 1968 that'll get you a nice pension. Good for him

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            • #7
              Originally posted by FunkDoc83 View Post
              Could WCI get him on a podcast? Could be interesting to interview the guy.
              Because if there’s one thing we’re all starving for after the last two years, it’s listening to Anthony Fauci interviews.

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              • #8
                Originally posted by Lithium View Post

                Because if there’s one thing we’re all starving for after the last two years, it’s listening to Anthony Fauci interviews.
                LOL! Actually it would probably be interesting

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                • #9
                  Originally posted by The White Coat Investor View Post
                  He should be a millionaire. In fact, he probably should be the decamillionaire he is. He's an 81 year old physician who is still working. Glad to see he is smart enough to use mutual funds.
                  Yes he should be wealthy. Now the question is the accuracy of his disclosures. He is very adept at a lack of full transparency. The rules are rules, I am sure he knows how to use them. Accuracy and precision, at least the 529's were impressive at his age. Financial power is not a fault.

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                  • #10
                    I think it would be interesting too actually, if the focus could be kept to finances and zero discussion about viruses, masks, vaccines, and social distancing. But that is certainly the rare episode where I would just read the transcript rather than listen to that Bugs Bunny voice. Obviously I can’t imagine he’d ever do it.

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                    • #11
                      Originally posted by Tim View Post
                      Yes he should be wealthy. Now the question is the accuracy of his disclosures. He is very adept at a lack of full transparency. The rules are rules, I am sure he knows how to use them. Accuracy and precision, at least the 529's were impressive at his age. Financial power is not a fault.
                      Tim are you suggesting he is far wealthier?

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                      • #12
                        He’s made some pretty bad financial decisions:

                        1) he’s forgoing his pension that’s about as high as his current salary to continue doing a job that I wouldn’t do if you paid me ten times as much as what he’s getting paid. So he’s currently working nearly for free?

                        2) he could have gotten a job as a consultant for pharma and gotten paid several multiples of his govt salary at least 30 years ago.

                        anybody here want to volunteer to do his job?
                        Last edited by Dusn; 01-16-2022, 07:46 AM.

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                        • #13
                          Originally posted by Lithium View Post
                          I think it would be interesting too actually, if the focus could be kept to finances and zero discussion about viruses, masks, vaccines, and social distancing. But that is certainly the rare episode where I would just read the transcript rather than listen to that Bugs Bunny voice. Obviously I can’t imagine he’d ever do it.
                          Yeah not likely unless he retires

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                          • #14
                            Originally posted by FunkDoc83 View Post

                            Tim are you suggesting he is far wealthier?
                            He could be. I have no clue about his appetite for wealth. I do have a sense that he could be if he so chose. I do have a sense that he tends to view the world and bend the rules. Probably the most is how he addresses opinion's contrary to his. Gain of function and the need for masks and not addressing the details of effective masks, and tolerating the attacking of legitimate scientific questions. Yes, his ethics are questionable. At his age I do not care. I really don't care about his wealth. I find it offensive that he is science and any questions are ignorant. I don't trust him. He could have a tidal wave of financial options coming his way. He is a cash basis taxpayer. If it has not happened, nothing to disclose. A functional gain of wealth is possible. Fauci would not say a thing.

                            Whether right or wrong is actually unimportant. He has damaged trust in the role he has. No doubt about that. Appearance of impartiality is just as important as reality. Time to go. Let someone else have a shot.

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                            • #15
                              Frankly, I’m surprised it’s that low. He’s been practicing forever. Came out when student loans weren’t an issue. And we’ve had crazy good market returns. And he’s got royalties off of books. Only 6k a year at 10.9% (trailing 50y market returns to 2020) over 50 years puts him at just shy of 11M without matching. I know $6k isn’t the same now and 50y ago and I realize he’s going to have some cash and bonds, but it’s a lot easier to throw that in a compound interest calculator.

                              Yes, 10M sounds like a ton (and it is), especially to the average non-WCI, but I feel like the only reason a doctor should have a number that low if they live and practice until 80 is 1)intentionally divesting late in life 2) poor investment choices or 3) low savings rate.

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