On paper, Charles Murphy had it all. He was a tall good looking man, father of two, educated at Harvard and MIT — married to a beautiful woman. He lived in a limestone Victorian era mansion in NYC that was for sale for $36 million. He was employed at Paulson and Co. where he was a partner and rubbed shoulders with the elite.
At 4:42pm today, donning a navy blue suit, Charles jumped to his death from the Sofitel Hotel in midtown Manhattan, from the 24th floor.
Why would he do such a thing?
Back in 2008, he fell victim to scumbag Bernie Maddoff and lost an astounding $7.5b in assets from his feeder fund — Fairfield Greenwich — making it the biggest loser in the Madoff scandal. In 2013, Fairfield Greenwich settled a class action suit for $80m for failure to protect client assets. His fatal mistake was believing the horseshit coming out of Bernie’s mouth.
As for his mansion, he bought it in 2007 for $33m. He tried to sell it last year for $50m — but the high price tag didn’t attract buyers. There’s a very limited market for ultra-high end properties. Shortly thereafter, he dropped the price to $36m and is still for sale.
The NY Post reported that his wife had recently crashed their Honda Odyssey, hardly a vehicle befitting a man who lives in a $36m mansion, and couldn’t afford to pay for the damage.
‘She didn’t even have enough money to pay for the damage,’ the attendant said.
At the time before his death, he was being treated for depression.
I can relate to this story, from the perspective of my grandfather. Albeit on a much smaller scale, my grandfather died penniless, after a long life in business. His downfall was two fold. He never saved money. As fast as he made any, he spent it and was very generous with friends and family. As he got older, his capacity to earn money lessened and then he lost his vision. One morning he woke up and he was legally blind. The blood vessels in his eyes had popped, due to high blood pressure, and it rendered him permanently unable to work and earn a living. For the balance of his life, he’d tell me about his regrets and how he blew it all — lamenting over not being able to buy things and instead dependent on social security to finance a meager existence — marooned at home listening to books.
I’ve always wished that I had been born earlier, so that I could’ve helped him with his troubles. When he died, I had just become a stockbroker and was making less than a cashier at the grocery store.
Money has a captivating effect on people. For those who’ve never had it, from afar, it possesses the elixir for all of life’s troubles. But for those who’ve ever made some and lost it, I doubt there are many punishments out there that can test a man’s soul with such harrowing effect. Failure is not losing money, but society often judges those on the size of their donations, model and make of their car, and square footage of their home.
On a personal level, I can think of far greater and more interesting ways to die than bouncing off the fucking pavement. I’d rather head over to Afghanistan and open up a bacon stand than take my own life — go out in style and with vigor.
Rest in piece Mr. Muprhy.
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Your best fucking post ever. Pretty much sums it up.
Plus 1 million
FIG
the amount of money is all relative to age and stage in life….but you haven’t lived unless you’ve lost money. The redemption becomes sweeter and you’re smarter if/when you get it back.
You don’t come back from losing billionaire status though.
Losing money is a crisis for everyone. But some have it coming to them quicker than others. Live under your means not at them and certainly not over. Income can vanish.
Thank God for social security. Somewhere someone like you has a blind grandfather who didnt save any money. That kid is earning less inflation adjusted than a cashier at the frocery store made back when.
I hope you are happy you vote republican so they can take his grand papa’s social security away.
So you can hoard more money. And gamble with uranium stocks. Instead of holding onto XIV.
No one who commits suicide rests in peace. May God have mercy on his ungrateful cowardly soul.
Poor lady. Hope those were real diamonss on that ring.
Poor form peaches. You are the net result of bad breeding.
Even though Fly said it already… that was not right peaches.
Or I know about how suicide fucks up the lives of those left behind.
Sorry.
I shouldnt have said what I said.
That dudes wife is alone and has financial.problems to.deal with. Problems he left her to deal with.
I just got married. I’ve bussed tables before…. for weed money after dropping out of school… my horrible parents wanted me to learn a lesson about being a latino dropout so I had to get a job.
If I lost my job today and all my money… I’d be a broke spic…
So.. I’d go bus tables like a broke spic. Shame is a stupid emotion.
You guys just elected an asshole because you like that he says harsh things that happen to be true. Ironic
May God have mercy on his soul.
Peachtree – vile racist , acting true to form
nothing I said was racist.
why doesnt anyone ever call sacrilege or ironbird a racist?
@peaches: how could you even associate sarcrilege with this “racist” thingy? I have never ever posted anything racist; as far as I know. Unless I was heavily into wine at that moment and dont remember. But I am not a racist! Do you have a link?
I am referencing comments you made on another thread. You are a racist. And vile.
I logged in, just to give peaches the thumbs down…
Me too. The left is pure evil.
Peaches; you’re such a sweet thing…are you OK?
This is Preacher Pits sickest post yet. Rot in hell Mother Fucker.
WOW .. no class .. at all. Period.
That’s directed at Peaches btw.
https://www.youtube.com/watch?v=Vb2A9r4bZvE
I concur. He left his wife to suffer alone. Obviously, he only cared about his wealth and status. How pathetic. I was born into money, but my parents taught me better than that. I have no shame digging through trash for a living. It’s an honest paycheck. This guy was a coward who couldn’t hack it and the world is better off without him. I’ve lost family members to suicide and I know exactly what it does to them. And that’s why I have no sympathy for him.
Dr. Fly,
Appreciate the post and the website is a must check every day. Your Grandfather had regrets but money did not dominate his life, he kept living it. I think that is healthy. In the army made six hundred a month, saved two hundred but life seemed grand. Many years later make a whole lot more, more or less debt free and can do what I want but life is different. No doubt age.
It is all perspective and one needs to adapt. Mistakes will be made.
Money is great, but not everything. From what I’ve learned, health is everything, physical as well as mental. Without health what’s the point
Excellent post Fly. Thank you for writing it.
Nice one Fly. I also agree that good health is tops – which is why it’s important that everyone gets healthcare.
Maddoff is just sitting in prison now, rotting, and I still don’t think he gives a fuck.
BTW, Maddoff is sitting in prison only because he took his fellow jews, instead of goys, to cleaners. Not for any other reason. And I think he does give a fuck after his son was suicided.
Soros Blankfein and Zuckerberg are atheists.
If your definition of atheists is Satanists/ Luciferians then yes, they are atheists.
so then leave the 99% of Jews who don’t worship satan alone. Asshole
@peaches: I don’t have an issues with Jews per se. I have an issues with the pro-zionist filth, the ill of this world and their wars that goy fight for them. So you be with HER, the pro-zionist monster and I will be with these guys, the decent kind:
http://www.nkusa.org/index.cfm
I smoked 400k a few years back going balls deep into March 8th, 2011 FNSR earnings (wipes small tear from eye)….Piker level compared to Mr. Murphy but its all relative isn’t it. Still alive, no rooftops for me 🙂
I’ve had my catastrophic losses too. They always hurt. I think mostly everyone here can relate to Mr. Murphy in this sordid game of speculation.
You know Fly, we don’t know the details, but I am very skeptical of bankers (being that high up in management) that rent a place close to where they live and jump. Was he pushed? Was he given an ultimatum? That was a lot of money his clients lost and he could not have been that stupid not to know Maddoff was running a ponzi scheme.
I lost 75k in 1 minute because of a software glitch with a greybox I was running a few years back when citron hit nq hard. Oh well, them’s the breaks of a traders life. That’d be a fun thread actually, everyone post your biggest/most embarrassing loser.
Speaking from experience as someone who has made a lot and then lost it – it is very depressing on the one hand, but on the other it can be a confidence builder as you know that you have the ability to make a lot and if you learn from mistakes there is no reason why you can’t again make a lot more (again speaking from experience 🙂 ).
fantastic post good sir.
Agree, great post.
Social security is the failed attempt our once great nation came up with to account for its destruction of the family unit.
Money aside, more and more people are falling into a state of depression in their lives. Sadly, it leads to a person reaching the end of their rope, such as in the case. Losing everything can be hard, but this incident speaks volumes with how people hand adversities when they present themselves. It’s a bigger issue than we may think and certainly not spoken of enough.
The big impact is the one the family is left holding. Money is not everything and the sooner people can cope with adversity, the less we will hear of these types of stories.
Dr. Fly, respect to you for being a good grandson.
Peaches, your wrong for your comment, and this has nothing to do with the election or in this case who was elected.
He could certainly have considerable life insurance policies that will still payout despite suicide.
I’m blown away. A Greek tragedy.
Money is so damn obsessive……Ahab was obsessed with that evil whale…..Is money evil?
The peaches thread ran out of room. I’m just here to tell you, you’re one stupid motherfucker.