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"Of all the classes, the wealthy are the most noticed and the least understood."
on May 5, 2013
The stories of the very wealthy falling into poverty usually arouse that guilty pleasure of schadenfreude in watching the lucky fail. The prose in this book is accessible to even the financial market ignorant reader. Given the fact that the top 1% of the population hold startlingly high percent of wealth, it would be impossible for this sector to fall without carrying many of the non- wealthy in the slide.
To illustrate the concept of the high-beta, or higher risk, more unstable wealth, Frank provides examples of individuals experienced in large losses. This also, in all honesty, provides the reader with lighter reading within the transmission of theory. I think it is a subject that bears understanding as the differential between the average worker and the average CEO surpasses the days of Rockefeller.