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10 Aug 2017

Billionaires: Losing money

This is not a good result for James Packer, although it would still be amazing to have him as a client.

The learning from this piece is to use it as an example of how even billionaires can lose money when investing.

Consider, James Packer estimated wealth has fallen from $7.19 billion to $4.75 billion over the past 3 years which represents 33.9% decline in his balance sheet.

For anyone of us to lose one third of our balance sheet would be a catastrophe but this billionaire even with all his expert advisers that are paid in the millions of dollars still managed to destroy $2,440,000,000 over the last three years. That takes some doing.

The lesson, diversify to manage and limit your risk.

Click to read.


At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.

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