Tag Archives: bankruptcy

What do people actually know about money, investing, and wealth? Well, a recent poll by Lexington Law asked 4,000 Americans four different multiple choice questions with a focus on basic investment knowledge on stocks, bonds, and building a safe portfolio to get a sense of U.S. financial literacy and found that the average score on the test was only 48.8%.

For most people, building a fortune is an elusive task but, once they have a fortune, many people find that they have a hard time hanging onto it. Below we discuss the 8 biggest fortunes ever lost. The reasons are diverse but, usually, it’s the same forces that built those fortunes in the first place. Economics is a fickle beast. Wealth is a fickle thing. It isn’t as tangible as people like to think.

Investors are beginning to understand that the U.S. dollar is not the safe haven they perceived it was a few years ago and concurrently, neither are U.S. Treasury notes and bonds. Given the American national debt and deficit problems, from both a fundamental and technical perspective, the U.S. greenback has the potential for considerable downside. Ergo and by axiom, gold bullion has significant upside potential to $1,500 per ounce over the short to mid-term time horizon of 1 – 2 years and $4,000 per ounce over the longer term. Words: 1104

Readers are introduced to a host of little-known Lehmanites, many of whom vilify the company's top management, among others. Lehman "was headed directly for the biggest subprime iceberg ever seen," but unlike the captain of the RMS Titanic, McDonald writes, CEO Dick Fuld and his No. 2, Joe Gregory, didn't try to swerve. Words: 560