4 ms·

Please remember that this is from 10 years ago. For wealth comparison, you need to take into account the valuation of assets in this period. What the author say

Please remember that this is from 10 years ago. For wealth comparison, you need to take into account the valuation of assets in this period. What the author says about 700M, is probably roughly equivalent to today's 5 billions.

gus_massa 1y ago
Nah, inflation in USA is not so high. [Hi from Argentina!] From this site https://www.in2013dollars.com/us/inflation/2015?amount=700000000 https://www.in2013dollars.com/us/inflation/2015?amount=70000... it look like 700M in 2015 is almost 1B now.
jeanlucas 1y ago
The American inflation is nowhere close to this high
gruez 1y ago
>What the author says about 700M, is probably roughly equivalent to today's 5 billions. The cumulative inflation for the past 10 years is 35.6%, not 7x as you imply. https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL
- Majromax 1y ago
  > The cumulative inflation for the past 10 years Without taking a stand on which metric is better for social and lifestyle comparisons, the grandparent poster said 'valuation of assets' rather than inflation. Per Yahoo Finance (https://finance.yahoo.com/quote/%5ESP500TR/ https://finance.yahoo.com/quote/%5ESP500TR/), the S&P500 is about 340% of its mid-2015 level on a total return basis (reinvesting dividends). Today's $700-millionaire would have been a 'mere' $200-millionaire in mid-2015 if invested fully in equities. That allocation is probably ballpark reasonable, since with that kind of net worth investment horizons are very long (multiple generations of inheritors) and the investors themselves can be nearly risk-neutral rather than risk-averse.
  - gruez 1y ago
    >the S&P500 is about 340% of its mid-2015 level on a total return basis (reinvesting dividends). I appreciate the correction, but that's still nowhere near the 7x that the OP was talking about.

4 ms·

Please remember that this is from 10 years ago. For wealth comparison, you need to take into account the valuation of assets in this period. What the author say

by elzbardico 1y ago

gus_massa 1y ago
Nah, inflation in USA is not so high. [Hi from Argentina!] From this site https://www.in2013dollars.com/us/inflation/2015?amount=700000000 https://www.in2013dollars.com/us/inflation/2015?amount=70000... it look like 700M in 2015 is almost 1B now.
jeanlucas 1y ago
The American inflation is nowhere close to this high
gruez 1y ago
>What the author says about 700M, is probably roughly equivalent to today's 5 billions. The cumulative inflation for the past 10 years is 35.6%, not 7x as you imply. https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL
- Majromax 1y ago
  > The cumulative inflation for the past 10 years Without taking a stand on which metric is better for social and lifestyle comparisons, the grandparent poster said 'valuation of assets' rather than inflation. Per Yahoo Finance (https://finance.yahoo.com/quote/%5ESP500TR/ https://finance.yahoo.com/quote/%5ESP500TR/), the S&P500 is about 340% of its mid-2015 level on a total return basis (reinvesting dividends). Today's $700-millionaire would have been a 'mere' $200-millionaire in mid-2015 if invested fully in equities. That allocation is probably ballpark reasonable, since with that kind of net worth investment horizons are very long (multiple generations of inheritors) and the investors themselves can be nearly risk-neutral rather than risk-averse.
  - gruez 1y ago
    >the S&P500 is about 340% of its mid-2015 level on a total return basis (reinvesting dividends). I appreciate the correction, but that's still nowhere near the 7x that the OP was talking about.