The world's billionaires accumulated $15.1 trillion last year. That's trillion with a T. The kind of number that used to mean something back when we pretended words had definitions.
Altrata published this report so you could feel informed. You're not informed. You're just aware that 3,795 people control more wealth than the GDP of every country except the United States and China. Does that help your technical setup? Does that change your moving average crossover? No. It makes you sad while you lose money for completely unrelated reasons.
The report notes the biggest gains went to the richest of the rich. The billionaires at the top of the billionaire list got more billion. This is apparently newsworthy. This is apparently something we needed a report to confirm. Next they'll publish a study revealing that water is wet and your portfolio is down 40% because you bought a stock because a guy on Twitter said it had "strong fundamentals."
Here's what this headline changes about your trading strategy: nothing. Absolutely f*cking nothing.
You'll read this. You'll feel something resembling rage or despair. Then you'll open your broker app and buy a tech stock at all-time highs because the chart looked pretty. The billionaires will keep accumulating. You'll keep refreshing your account balance like it's going to change the outcome. It won't.
The global billionaire count hit a record. Your account hit a record too. Lowest balance since you started trading options on companies you can't spell.
But sure, let this report inform your next trade. Let the wealth concentration of 3,795 people guide your decision to buy calls on a company that sells vegan dog food. That'll show them.
Photo by Morgan Housel on Unsplash
Leave a Comment