Friday, August 21, 2009

The Rich Get Poorer

Gleanings from the NYT front-page story, Rise of the Super-Rich Hits a Wall:
  • Monthly income from dividends on stocks has fallen more than 20 percent since last summer.
  • The number of people with investable assets over $1 million dropped by about 500,000 last year.
  • The Mei Moses index, which tracks the price of art, has dropped 32 percent in the last six months.
  • The fortune of John McAfee, the antivirus software tycoon, has dropped from a high of $100 million to about $4 million. (Investing in Lehman bonds didn't help.)

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