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But, I remember reading that during the recession of 2001 when the average person lost something like 10% of the value of their portfolio, billionaires suffered, too: they gained only 2%. So, I assume that the wealthy investors almost always do well. They may be putting their money aside with the plan of riding out the storm. But, it's worth keeping in mind that very wealthy investors ($50 million+) sometimes work in timeframes of 50-100 years, so they think about the market in a very different way than the rest of us.
Or they simply have a more conservative portfolio (*) - more in bonds, less in equities, using options and other hedging strategies to buy insurance against a market slide. That doesn't mean they didn't lose money in the precious metals market.
(*) It seems plausible to me to surmise that it could be scientifically proven that the less well off one is, the more inclined one is to gamble or invest in high reward high risk securities. Billionaires don't buy lottery tickets, I wouldn't imagine.
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Last edited by Turk; 08-30-2005 at 12:52 PM..
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