Stocks are up but 80% of the value is held by the richest 10%

Re:Stocks are up but 80% of the value is held by the richest... by charlesdm on Saturday March 11, 2017 @09:15PM (#13848526)

I know several wealthy people making 5-10% on net worths in excess of $25 to 50m. 10% on $50m is $5m. That's a lot (and plenty to live well).

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Re:Stocks are up but 80% of the value is held by the richest... by plandis on Saturday March 11, 2017 @09:57PM (#13848671)

I literally don't think I've ever spoken with an individual that has $50m in net worth it's certainly not the norm.

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Re:Stocks are up but 80% of the value is held by the richest... by dpark on Saturday March 11, 2017 @10:30PM (#13848766)

Honestly, how would you know? Most people don't talk about their wealth. I'm not aware of ever having spoken with anyone worth $50MM, but it's possible that it's happened.

Of course, you're absolutely right that net worth that high is exceedingly rare. This is much smaller than "the 1%".

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Re:Stocks are up but 80% of the value is held by the richest... by chillwaves on Sunday March 12, 2017 @01:25AM (#13849404)

Not only is it rare, but they do not mingle with peons.

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Re:Stocks are up but 80% of the value is held by the richest... by lordnacho on Sunday March 12, 2017 @08:48AM (#13850428)

They absolutely do mingle with peons, they just don't tell the peons.

One anecdote was when one of these guys went on a UK game show. People in the market who knew him were laughing their heads off at the thought of him doing word and number puzzles.

Also, I think they can be approachable. Often they're looking for investments to make, or charities to donate to. Or they have political opinions they want heard.

What they don't want so much though is yet another guy who wants their money, so if you do have something to bring to them, it had better be good.

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