6 Biggest Millionaire Flops

AAA

Portfolio losses got you down? That's understandable. The dramatic 2008 market drop-off caused the S&P 500 Index to tumble 37%, wiping out more than $4 trillion in workers' retirement plan savings alone.

If you lost money, you're not alone, but at least you can put some blame on the market. Major errors of judgment have cost some of the world's richest people more than just a pretty penny - and these are people who have a lot to lose. Console yourself with these famous financial flops. (Want to be a millionaire yourself? Read Getting A Millionaire's Mindset.)
  1. No results found.
Related Articles
  1. Insights

    Why Many Millionaires Don't Feel Rich

    Learn about the millionaire mindset, and how you can benefit from millionaire market moves.
  2. Investing

    How to Invest Like a Millionaire in 2016

    Discover how to start 2016 strong by learning how to imitate the investing strategies that distinguish millionaire investors from most average investors.
  3. Financial Advisor

    Millionaire Households Reach Record High in U.S.

    Millionaire households in the U.S. reached a record high in 2015, a recent study by Spectrem Group has found.
  4. Personal Finance

    6 Millionaire Traits That You Can Adopt

    Millionaires have more in common than just their bank accounts. They share certain qualities that help them make it to the top.
  5. Managing Wealth

    Biggest Millionaire Flops

    The next time portfolio losses have you down, just be glad that you can blame some of your woes on the market, rather than your own poor judgment.
  6. Managing Wealth

    The Number of Millionaires Continues to Increase

    Global wealth growth remains weak, but the number of millionaires in high-income economies is surging.
  7. Managing Wealth

    Avoid These 9 Traps to Become a Millionaire

    Want to be a millionaire in retirement? Avoid these nine pitfalls to increase your chances.
  8. Retirement

    The Millionaire's Retirement Plan

    We show you how to hit the millionaire mark step by step.
  9. Managing Wealth

    Should You Follow Millionaires into this Sector? (XLF, XLK)

    Millionaire investors—and those who follow them—should take another look at the current economic situation before making any more investment decisions.
  10. Managing Wealth

    Retirement: Saving First Million Is the Hardest

    Once retirement savings reach $1 million, building wealth becomes much easier. Here's why.
Hot Definitions
  1. IRR Rule

    A measure for evaluating whether to proceed with a project or investment. The IRR rule states that if the internal rate of ...
  2. Short Covering

    Short covering is buying back borrowed securities in order to close an open short position.
  3. Covariance

    A measure of the degree to which returns on two risky assets move in tandem. A positive covariance means that asset returns ...
  4. Liquid Asset

    An asset that can be converted into cash quickly and with minimal impact to the price received. Liquid assets are generally ...
  5. Nostro Account

    A bank account held in a foreign country by a domestic bank, denominated in the currency of that country. Nostro accounts ...
  6. Retirement Planning

    Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve ...
Trading Center