>>> seamus2001 at home.com 05/14/01 08:43PM >>>
http://news.independent.co.uk/business/news/story.jsp?story=72282
World's richest avoid market woes as 180,000 join cash millionaires'
ranks
By Saeed Shah
15 May 2001
The world's richest people escaped last year's stock market rout
unscathed, emerging even wealthier by selling out of equities or using
sophisticated hedging techniques.
While small investors were burnt by plunging markets, with both the FTSE 100 and the American S&P 500 ending the year down 10 per cent, rich individuals saw their wealth rise by 6 per cent to $27 trillion (£16.6 trillion).
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CB: Somehow this is the fundamental story of the stockmarket big fish and small fish , isn't it ? Reminds me of three card monty on the streets of NYC.