I spent some days on holiday at the beach here.... Where all the rich go. Think like St Tropez or stuff like that although less well known obviously... Appartments go for like 10 milion USD which might not sound a lot compared to Malaga or whatever but it is here... Anyway.... as the markets crashed I was thinking a lot of these people I see her driving their huge SUV's and spending big cash on where they stay and eat etc are as we speaking losing loads of money. The crash of 08 scared a lot of them out of the markets probably or at least made them more diversified but anyway yada yada yada... Say you had 100 million and you lost 50 or you had 500 million and you lost 300.... Does it makes any kind of difference really? I'm sure it must feel shit but does it actually calls for a change in lifestyle? Or is it more status and having to be able to keep up with your peers looking wealthy as ever? These aren't the circles I find myself in so I was wondering about the impact of a market crash on their lives. I "know" personally one "ultra" rich (probably +100 million) person who really lost like maybe half of his money in the crash of 08 or more being invested primarely in 1 financial institution that isnt around anymore but as far as I can tell... It changed little really. Doesnt it at a certain point becomes more of a game like.... Oh yeah i have 70 milion shit its down to 50 million hooray its up to 60 million... Cheers.