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posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
The 1% grabbed 82% of all wealth created in 2017
More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
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Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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squatcho, n.:
The button at the top of a baseball cap.
-- "Sniglets", Rich Hall & Friends
(Score: 2) by mmcmonster on Monday January 29 2018, @12:36AM (1 child)
The other thing to remember:
If you are using a fund manager, remember that (by definition) the average fund manager does as well as the total market, prior to taking out his fees (also known as the Expense Ratio).
Which means that the average fund manager does worse than the market when you consider his fees.
You may think that you have an above average fund manager. It may be true ... but... would you bet that he will be above average for the life of you investing with him? And if he retires, would you bet that the person replacing him would be above average as well? Better to use an index fund with a very low Expense Ratio.
(Score: 1) by khallow on Monday January 29 2018, @02:20AM
First time I invested in a fund, I found that out. They had a great year and then several subpar ones right after I joined. I've since learned that even for relatively competent funds a great predictor for a bad year is having an extremely high year or two before due both to investments tending to rise in bursts and the "me too!" effect from new people piling on the train.