The number of millionaires worldwide is at an all-time high

I doubt it. It's got more to do with inflation and wealth creation that happens everyday and is accelerating in the developing world.

 

It means more poor and broke people needed to serve them.

 

We hear so often of the death of active investing, hedge funds closing down, etc., and yet the returns here have very easily beaten the broader market. What gives? Has the active money simply moved into separately managed accounts? Are wealth managers now just trading ETFs in place of individual stocks?

 

More likely the article is bullshit. The nypost is pretty terrible st financial reporting.

 

NY Post took it from Reuters...

 

And the number of millionaires on ET is also at an all-time high.

 

...You're a Millionaire too, ironchef ...High-Five`

Making a killing in the shock market every day. We are the true elite.

 

I'm surprised that literally everyone is looking right over this simple answer.

 

How did you find out?

 

The mah still doesn't make sense.