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by caeril
615 days ago
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> One of the best things when you are rich, you can buy when everyone wants to sell, and sell when everyone wants to buy. Generally untrue, since most rich people hold their assets in what's being sold. There are a handful value investors left, who bother holding cash equivalents when PE ratios get absurd, but they are few and far between. Tech billionaires, in particular, are very unlikely to be sitting on much cash. |
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I know several people who bought vast amount of real estate during the financial crisis.
You don't need to "sit on cash" to buy things.