Here s the big secret of how the richest Americans made their wealth – MarketWatch
Are you surprised by these results? You will be only if you make the mistake of thinking that these richest Americans acquired their wealth on Wall Street. But my analysis of the Forbes 400 lists over the years reveals that almost all of them made their fortunes either through starting a company that eventually made it big or through inheritance. As far as I can tell, the rich view the stock market primarily as a vehicle for preserving the purchasing power of their already-amassed fortunes rather than for creating those fortunes in the first place.
Warren Buffett of Berkshire Hathaway BRK.A,
+0.36% BRK.B,+0.07% is an exception, of course. But his investment return is so much better than anyone else s that I consider him the exception that proves the rule.So keep these results in mind the next time your eye is drawn to a headline touting the investment secrets of the super wealthy. To the extent they have a secret, it is that you should log off your day-trading app, get up out of your chair, and go create something that the world wants and needs.
Old news but good news.