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A comment on Renaissance executives agree to pay around $7B to settle dispute with IRS. Parent comment

Re:Renaissance executives agree to pay around $7B to settle ... by mattalex on Friday September 03, 2021 @06:12AM (#28402347)
After some quick following, the fund had an 71.8% annual return from 1994 through mid 2014. I don't know how the numbers look like nowadays, but assuming that this continued throughout the time in question here, we can conclude that they made a lot of money through this
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Re:Renaissance executives agree to pay around $7B to settle ... by xtracto on Friday September 03, 2021 @08:52AM (#28403471)
Id i understood correctly the teick they tried allowed them to treat short term gains as long term. Reducing their tax fron 35% to maybe 20%. So those 6.9 billion was 20% of their profits. Meaning the full amount of their profits were around 35 billion. That's crazy! A money printing machine.
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