Cover of MoneyWeek issue 397

Safety first

15 August 2008 / Issue 397

Why it’s time to get into gilts... PLUS:

  • The best stock in the railway sector
  • I made a million by playing with mobile phones
  • Three cheap plays on small Japanese stocks

Excerpt

The secret of City salaries
Fancy getting a bonus of $300m. You’d think you were really special wouldn’t you? Adam Levinson, who has apparently just been given a stock option package worth just that by his employers, Fortress Investment Group, clearly does. According to the Evening Standard, he has “defended the award”, saying that he spends more than 12 hours a day in the office and takes phone calls even when he is not in the office. “On a good day it’s a couple of calls overnight. On a bad one, it’s seven.” So it’s just like being, say, a midwife, then? Except for the fact that midwives don’t often get to live in loft apartments in Manhattan or have the time to become “regulars on the social scene”, practise “Mysore yoga” every morning and visit the gym every afternoon.

Read the full editor’s letter here: The secret of City salaries