Skip to main content

Tallying up the millionaires

"Come Mr. Tallyman, tally me bananas." And my Federal Reserve Notes, as well.

A report by Capgemini and Merrill Lynch shows the number of dollar millionaires increasing across the globe. There's a number of articles out on the subject today, many of them taking national slant (stories about Indian millionaires, stories of British and Swiss based millionaires).

Let me include this India focused article, since it includes a nice little world wealth graphic. By the way, the number of millionaires in the world is now 8.7 million. The correct number for US millionaires is shown in the graphic, 2.9 million.

On the increase in millionaires and "ultra rich" (characterized as those with $30 mil), the Chicago Tribune writes:

The number of millionaires has nearly doubled since 1996, though the 6.5 percent growth rate in millionaires last year slowed slightly from 6.6 percent in 2004.

But the ranks of the ultra-rich, those worth more than $30 million, climbed by more than 10 percent last year, to 85,400. Merrill Lynch said the ultra-rich did better because they found "select pockets" of high-growth investments in Asia, Latin America and the Middle East.

If you'd like to see all the various takes on the millionaire story, check the related stories at Google News. Personally, I'm wondering how many of these millionaires are floating up past the mark due to significant money supply expansion worldwide. Are the new millionaires and the "ultra-rich" outpacing inflation with their investments?

Popular posts from this blog

Seth Klarman: Margin of Safety (pdf)

Welcome, readers! Signup for free email updates at the Finance Trends Newsletter . Update: PDF links removed due to DMCA notice. Please see our extensive Klarman book notes below. New visitors, please check the Finance Trends home page for all new posts. Here's something for anyone who has been trying to get a look at Seth Klarman's now famous, and out of print, 1991 investment book, Margin of Safety .  My knowledge of value investing is pretty much limited to what I've read in Ben Graham's The Intelligent Investor (the book which originally popularized the investment concept of a "Margin of Safety"), so check out the wisdom from Seth Klarman and other investing greats in our related posts below. You can also go straight to Ronald Redfield's Margin of Safety book notes .    Related posts: 1. Seth Klarman interviews and Margin of Safety notes     2. Seth Klarman: Lessons from 2008 3. Investing Lessons from Sir John Templeton 4.

Slate profiles Victor Niederhoffer

Slate's recent profile of writer/speculator, Vic Niederhoffer has been getting some attention from traders and finance types in recent days. I thought we'd take a look at it here too, to offer up some possible educational value from Vic's experiences with trading and loss. Here's an excerpt from Slate's profile of Victor Niederhoffer : " I've enjoyed getting your e-mails. It sounds like you've thought a lot about being wrong. Well, the reason you contacted me, to call a spade a spade, is that I'm sort of infamous for having made a big, notorious, terrible error not once but twice in my market career. Let's talk about those errors. The first was your investment in the Thai baht, which pretty much wiped you out when the Thai stock market crashed in 1997. I made so many errors there it's pathetic. I made one of my favorite errors: "The mouse with one hole is quickly cornered." That is key. There are certain decisions you make in li

Clean Money - John Rubino: Book review

Clean Money by John Rubino 274 pages. Hoboken, New Jersey John Wiley & Sons. 2009. 1st Edition. The bouyant stock market environment of the past several years is gone, and the financial wreckage of 2008 is still sharp in our minds as a new year starts to unfold. Given the recent across-the-board-declines in global stock markets (and most asset classes) that have left many investors shell-shocked, you might wonder if there is any good reason to consider the merits of a hot new investment theme, such as clean energy. However, we shouldn't be too hasty to write off all future stock investments. After all, the market declines of 2008 may continue into 2009, but they may also leave interesting investment opportunities in their wake. Which brings us to the subject of this review. John Rubino, author and editor of GreenStockInvesting.com , recently released a new book on renewable energy and clean-tech investing entitled, Clean Money: Picking Winners in the Green Tech Boom . In Clean