World Adds 600,000 Millionaires in 2004

High Net Worth Individuals (HNWI) benefited from real estate and and strong energy and commodity prices. Interestingly, real estate allocations are starting to decline and some profit being taken out of the market-where’s it going? The report states :
“As we have seen in past years, high net worth individuals frequently try to anticipate future developments and stay ahead of the curve in their investment behavior. Our research found a slightly more defensive approach to asset allocation, with many HNWIs locking in some profits from the recent, dramatic appreciation of real estate,” the report said. I believe that some big hedge funds are starting to put together wealthy investors who will be hoping to buy distressed properties when things start slowing in the real estate market and folks can’t make the monthly stroke…The beat goes on!

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