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Yes, wealthy people do pay others to manage their funds... I'm failing to see how that's a revelation here. The people who manage that money, assuming they are
by rubyn00bie 6y ago
Yes, wealthy people do pay others to manage their funds... I'm failing to see how that's a revelation here.
The people who manage that money, assuming they are responsible, or remotely-qualified, have only one option; which, is going to be investing primarily in securities/assets backed by US dollars. Land, buildings, and stock are all assets because you can get money back for them. That money is only good if its spendable and can be extracted from the asset... which is my point.
/shrug I'm just a bit lost at what you're trying to say...
- exdsq 6y agoPeople rarely hold that much in cash, it goes into assets like buildings. And those assets tend to be diversified around the world - cash will probably be held in banks offshore with good tax rules.
- effie 6y ago> The people who manage that money, assuming they are responsible, or remotely-qualified, have only one option; which, is going to be investing primarily in securities/assets backed by US dollars. That may be a strategy of single person with a little money trying to not lose it long term. But it would be foolish for the really big investors. They don't do that. Wealthy people diversify in different asset classes, not just in US stocks/bonds. Real world assets such as gold, stocks, art, land, buildings, private companies etc. are not in general "backed by US dollars". They can have value largely decoupled from the value of US dollar or its status as top world currency. Which is why those clever managers invest also in those assets.