The number of millionaires worldwide is at an all-time high

Xela said:
Articles on this subject rarely seem to discuss it, but I sometimes wonder to what extent the growth in the number of millionaires is attributable to the huge worldwide growth in regular national/state lotteries which so regularly give multiple millions as their jackpot prizes. It may not be their intention, but they're certainly a way of "taxing" the many to concentrate wealth in the hands of the few. (Obviously I don't mean "taxing" literally.)
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I doubt it. It's got more to do with inflation and wealth creation that happens everyday and is accelerating in the developing world.
 
dealmaker said:
By Reuters
Millionaires saw a 24.3 percent return on average on investment portfolios overseen by wealth managers.
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We hear so often of the death of active investing, hedge funds closing down, etc., and yet the returns here have very easily beaten the broader market. What gives? Has the active money simply moved into separately managed accounts? Are wealth managers now just trading ETFs in place of individual stocks?
 
lesserfool said:
We hear so often of the death of active investing, hedge funds closing down, etc., and yet the returns here have very easily beaten the broader market. What gives? Has the active money simply moved into separately managed accounts? Are wealth managers now just trading ETFs in place of individual stocks?
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More likely the article is bullshit. The nypost is pretty terrible st financial reporting.
 
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