Do you know Ken Karpman?
He is the man buzzing around the blogs lately after his appearance on ABC News. Ken Karpman is a former Hedge CEO making about $750000 per year turned into a $7.50 per hour as a pizza delivery man. So how does this happened to him? recession? hmm maybe but this man forgot to save but instead enjoys the lifestyle of the rich and famous like by having a huge house, vacation everywhere in the world and by being a member of the most luxurious golf club around.
But facts states that Ken Karpman is trying to set up his own Hedge Fund by using equity of his house and then unfortunately lost it all as the market crashed. The good news is that his kids school fees of $30000 annually has a sponsor already.
Ken Karpman has an MBA in UCLA and is an institutional equity sales trader. He has a wife and two children. Reports said that his house is foreclosed and their credit card debt is $100000.
Moral of the story: save while you have a job.
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coffee maker Said,
March 22, 2009 @ 5:10 am
it’s gotta take a truckload of humility for this guy to take on that pizza delivery gig
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Tim Said,
April 8, 2009 @ 2:24 am
I made a decent living in the financial services industry and have an MBA, like Ken. Although I didn’t earn what Ken did, I did OK and owned 3 residential and 2 commercial buildings in 2007. Leverage is a great tool when things go up and “smart” MBA’s take chances. Unfortunately the economy turned and quickly. That’s life. I have a large family to support so have had to transition into teaching and taking a part-time job as well. You do what you have to do to support your family. I applaud Ken on his perserverance and his wife for staying with him. Most trophy types are gone with the money. He has a great family and you cant’ ask for more than that.
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