6 points | by ggm 6 hours ago ago
5 comments
But it’s the same for all non equity assets. As no one has everything in cash.
A private company owner needs to sell his company
A high net worth investor in a fund will have signed up to maximum redemptions and may be locks out during a crisis
Most assets have varying liquidity and you can only surely judge net worth as its present book value
Someone in Nigeria once said it's paper money. But wait, so he goes and buys other companies and they all have the same paper money?
Maybe such invisible "paper money" isn't such a bad thing if he can go shopping with it.
We don't care about these semantics. He's a trillionaire.
I do; because it matters in the 'real world' ;-}
It doesn't matter at all.
Almost no one with real wealth has liquid cash because liquid cash depreciates.
But it’s the same for all non equity assets. As no one has everything in cash.
A private company owner needs to sell his company
A high net worth investor in a fund will have signed up to maximum redemptions and may be locks out during a crisis
Most assets have varying liquidity and you can only surely judge net worth as its present book value
Someone in Nigeria once said it's paper money. But wait, so he goes and buys other companies and they all have the same paper money?
Maybe such invisible "paper money" isn't such a bad thing if he can go shopping with it.
We don't care about these semantics. He's a trillionaire.
I do; because it matters in the 'real world' ;-}
It doesn't matter at all.
Almost no one with real wealth has liquid cash because liquid cash depreciates.