6 ms·
I believe you are paraphrasing James Rickards, EG from US News: > When one inquires of family members and representatives as to what it takes to preserve wealt
by yellowstuff 8y ago
I believe you are paraphrasing James Rickards, EG from US News:
> When one inquires of family members and representatives as to what it takes to preserve wealth over centuries and not just cycles, the frequent reply is "a third, a third, and a third." This is shorthand for dividing one's wealth into one-third land, one-third gold, and one-third fine art.
https://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/16/the-three-ways-old-money-holds-on-to-its-riches https://www.usnews.com/opinion/blogs/economic-intelligence/2...
Since I'm fairly familiar with finance and could not find this rule anywhere else I assume he means "a lot of people say" in the Trumpian sense, IE he made it up. There's no data backing the idea that families that have stayed rich invested in those particular assets.
While it's fun to think about escaping from the invading hoards with you sack of gold and a rolled up Old Master in your sack, my guess is that the continued wealth of the Florentine families has more to do with passing on education and cultural advantages, and being lucky enough to live in a relatively stable society.