JPM,Pictet: dynastic wealth preservation "very difficult" without edge
pictet
A JP Morgan study based on the Forbes listof the 400 richest Americans published in1982 found that by 2004 only 15 per centof the people were still on the list. Now,being dropped off the Forbes 400 list doesnot exactly condemn a family to a life ofabject poverty, given that the lower limit of the Forbes 400 list in 2009 was USD950million. Nevertheless, the question of whether the wealth of a family will lastbeyond a generation, or even several generations, is one of critical interest.....
So without the additional return derived from some kind of edge, it is very difficult to preserve wealth over the very long term...(36 page PDF)
