The Emperor Has No Clothes!


wealthymattersWhen you sell a stock,” I asked, “who buys it”? He answered with a wave in the vague direction of the window, indicating that he expected the buyer to be someone else very much like him. That was odd: what made one person buy and the other sell? What did the sellers think they knew that the buyers did not? Since then, my questions about the stock market have hardened into a larger puzzle: a major industry appears to be built largely on an illusion of skill. — Daniel Kahneman, Nobel Laureate.

Link

Bloomberg Billionaires List


wealthymattersThe Bloomberg Billionaires List consists of a daily ranking of billionaires by net worth.You can access it here http://topics.bloomberg.com/bloomberg-billionaires-index/

What I find interesting about the list is the daily fluctuations in these net worth figures.Obviously,these figures are for staggering amounts of money simply because these people are so wealthy.But as a percentage of their net-worth it’s not all that large.This is in huge contrast to the “financial advisers” who so glibly talk about “true investors” being comfortable with upto a 50% drop in portfolio values.It’s obviously easier to play round with and/or lose someone else’s money. Read more of this post

%d bloggers like this: