World Wealth

So we just received the latest release from Forbes of the wealth of the wealthiest among us. Titles have shifted but the top three remain the same three once again trading spots. For those who were unaware that Mr. Gates was not the number one seed for the year 2008, they now stand correct with the Tech Giant reclaiming is poll position in 2009. With a net worth loss of $18 billion for the financial mess of 08, Mr. Gates was able to brush past good friend Warren Buffett who slipped into second place. The investments genius saw $25 billion dollars disappear as his beloved Berkshire Hathaway stemmed the pains of an approximate 50% loss leaving him with only $37 billion to not play with. Third place was reserved for Mexico’s telecom giant Carlos Slim Helu with a reported $35 billion after losing $25 billion through his company Telemax. The entire list saw some heavy reshuffling, as would be expected, with the total number of billionaires dropping from 1,125 to 793.  Average net worth was down 23% for the elite players of the list.

 

So, what does this information seek to help us with? Perhaps we may not feel so bad with our personal funds feeling the pinch of hard financial times. You could be on the lookout for the $68 billion lost by our top three individuals. Or you have new information to share with your colleagues at work. Whatever it is be sure to fashion your responses in a way that paints your time spent reading as worthwhile.

 

Look into the top gainers for the “Great Recession” we are facing. A 34-year-old Hedge Fund Manager with a gain of $2 billion. All the Bears of this crisis (Soros, Paulson-not Henry, Simons) In total 44 billionaires saw their wallets increase. You see “not” losing money in this crisis is an accomplishment in itself. Actually making any in this environment is a monumental feat shared by a number of individuals.

 

On a personal note, an associate informed me that for the next 5-10 years we would see the worst times in history. Simple deduction and arrogance tells me, that if someone lost money, somebody made money. If you can’t find someone to hire you, do something to hire someone. The greatest game plan of the majority of oxygen users is to find this Holy Grail known as the “job, with benefits.” So what happens when your company fires you?

“But why would they fire me?” Doomsayers are always right, just always on the irrelevant things. Asking yourself the famous “So what?” question, will filter so much information in your life, and you may even realize that lately you haven’t really found any good information. Each time you are left asking “so what?” you will find the information you just found may leave you with nothing more than a wasted moment.*

 

*Note; do not ask “so what” as you read through this newsletter