by Peter Newcomb Vanity FairIt was exactly a year ago (give or take a day) when the Dow Jones Industrial Average established its all-time high of 14,279. Friday morning it will open at 8,579—a 40 percent drop. Most of us whose meager wealth is tied up in 401(k) plans have suffered a beating of similar magnitude. But just how have the obscenely affluent fared? VF.com took a look at the nation’s 25 richest people whose fortunes are primarily derived from one or two publicly traded stocks.
The result? Not so great! On top of the list (or the bottom, depending on how you look at it) is Shedlon Adelson. The cantankerous casino mogul’s shares in his Las Vegas Sands have plummeted 91 percent since reaching their peak last October, shedding a staggering $24.8 billion from his net worth. The collective fortune of Google’s founding wunderkinds, Sergey Brin and Larry Page, dropped $12 billion. Even Wall Street savior Warren Buffett got whacked, giving up $16.3 billion of his considerable paper wealth.
And you thought you were taking it on the chin.
1 comment:
Is Forex Risky? I mean riskier than stocks and hedge funds? NFA and CFTC in the USA and FSA in the UK require from everyone offering forex (besides paying registration fee) to state everywhere: "Forex is risky!". Indeed it may be true.
The banks are safe. Well, I can't say that at the moment.
And investing in stock markets and property (Real Estate) should bring long term gains. This is questionable as there are falls in Stock Exchanges' Indices (Indexes) right now, that returned us 10 years back. Nikkei still has a lot to go until 35.000 it reached in early 90's. When we will see Dow Jones at 13.000 again?
I make more than 100% annualized on forex and my trading systems are verified by independent Trading Systems Authority. For me, forex is no riskier than having money in a bank.
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