Wealth distribution in the U.S. has been a hot topic lately, leading many to express concerns that the system is somehow inherently unfair or unjust. Credit Suisse published an interesting chart this morning showing a breakdown of how the world’s wealth is distributed as a reminder of why people might be upset.
At the top the global wealth pyramid, there are 32 million people, roughly 0.7% of the world population, who are worth more than $1 million USD and control $98.7 trillion, or 41.0% of global wealth.
In contrast, the bottom 3.2 billion people, which is 68.7% of the population, have less than $10,000 and control only $7.3 trillion, or 3.0% of the wealth.
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
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