Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

The rich make bad investments just like you and me, sort of

Your article was successfully shared with the contacts you provided.

What can’t money buy the wealthy? It doesn’t buy them access to a secret formula that guarantees a profit no matter the market conditions. A group of researchers took a look at where folks with an average net worth of $90 million put their money between 2000 and 2009. Turns out they fell victim to fad investments, such as hedge funds, the same as middle-income folks might invest in their cousin’s portable dog-grooming business.