Kindle Price: CDN$ 15.99
includes free international wireless delivery via Amazon Whispernet

These promotions will be applied to this item:

Deliver to your Kindle or other device

Deliver to your Kindle or other device

The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust by [Frank, Robert]
Kindle App Ad

The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust Kindle Edition

5.0 out of 5 stars 1 customer review

See all 11 formats and editions Hide other formats and editions
Amazon Price
New from Used from
Kindle Edition
CDN$ 15.99

Length: 256 pages Word Wise: Enabled Enhanced Typesetting: Enabled
Page Flip: Enabled

Product description

Review

"The High-Beta Rich vividly illustrates how the wealthy and those they employ have become increasingly tied to the vicissitudes of the stock market and the macroeconomy. It is a cautionary tale for all." ---Steven Neil Kaplan

Product Description

The rich are not only getting richer, they are becoming more dangerous. Starting in the early 1980s the top one percent (1%) broke away from the rest of us to become the most unstable force in the economy. An elite that had once been the flat line on the American income charts - models of financial propriety - suddenly set off on a wild ride of economic binges.      
      
Not only do they control more than a third of the country’s wealth, their increasing vulnerability to the booms and busts of the stock market wreak havoc on our consumer economy, financial markets, communities, employment opportunities, and government finances. 
     
Robert Frank’s insightful analysis provides the disturbing big picture of high-beta wealth. His vivid storytelling brings you inside the mortgaged mansions, blown-up balance sheets, repossessed Bentleys and Gulfstreams, and wrecked lives and relationships:

• How one couple frittered away a fortune trying to build America’s biggest house —90,000 square feet with 23 full bathrooms, a 6,000 square foot master suite with a bed on a rotating platform—only to be forced to put it on the market because “we really need the money”. 
 
• Repo men who are now the scavengers of the wealthy, picking up private jets, helicopters, yachts and racehorses – the shiny remains of a decade of conspicuous consumption financed with debt, asset bubbles, “liquidity events,” and soaring stock prices. 

• How “big money ruins everything” for communities such as Aspen, Colorado whose over-reliance on the rich created a stratified social scene of velvet ropes and A-lists and crises in employment opportunities, housing, and tax revenues. 

• Why California’s worst budget crisis in history is due in large part to reliance on the volatile incomes of the state’s tech tycoons. 

• The bitter divorce of a couple who just a few years ago made the Forbes 400 list of the richest people, the firing of their enormous household staff of 110, and how one former spouse learned  the marvels of shopping at Marshalls,  filling your own gas tank, and flying commercial. 
Robert Frank’s stories and analysis brilliantly show that the emergence of the high-beta rich is not just a high-class problem for the rich. High-beta wealth has national consequences: America’s dependence on the rich + great volatility among the rich = a more volatile America.  

Cycles of wealth are now much faster and more extreme. The rich are a new “Potemkin Plutocracy” and the important lessons and consequences are brought to light of day in this engrossing book.
 
high-beta rich (hi be’ta rich) 1. a newly discovered personality type of the America upper class prone to wild swings in wealth. 2. the winners (and occasional losers) in an economy that creates wealth from financial markets, asset bubbles and deals. 3. derived from the Wall Street term “high-beta,” meaning highly volatile or prone to booms and busts. 4. an elite that’s capable of wreaking havoc on communities, jobs, government finances, and the consumer economy. 5. a new Potemkin plutocracy that hides a mountain of debt behind the image of success, and is one crisis away from losing their mansions, private jets and yachts.




From the Hardcover edition.

Product details

  • Format: Kindle Edition
  • File Size: 3702 KB
  • Print Length: 256 pages
  • Publisher: Crown Business (Nov. 1 2011)
  • Sold by: Random House Canada, Incorp.
  • Language: English
  • ASIN: B004J4WKXI
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Screen Reader: Supported
  • Enhanced Typesetting: Enabled
  • Average Customer Review: 5.0 out of 5 stars 1 customer review
  • Amazon Bestsellers Rank: #782,112 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
  • Would you like to tell us about a lower price?

click to open popover

Customer reviews

Share your thoughts with other customers
See all 1 customer reviews

Top customer reviews

December 6, 2011
Format: Hardcover

Most helpful customer reviews on Amazon.com

Amazon.com: 4.2 out of 5 stars 59 reviews
Amelia Gremelspacher
4.0 out of 5 stars"Of all the classes, the wealthy are the most noticed and the least understood."
May 5, 2013 - Published on Amazon.com
Format: Hardcover|Verified Purchase
One person found this helpful.
Paul Kindzia CPA, MBA, CFP
5.0 out of 5 starsAuthor Entertains and Enlightens Again
November 22, 2011 - Published on Amazon.com
Format: Hardcover|Verified Purchase
One person found this helpful.
sremani
5.0 out of 5 starsPaper Money and Fake Prosperity
December 26, 2013 - Published on Amazon.com
Verified Purchase
Judy L. Webster
5.0 out of 5 starsLoved this book
August 9, 2016 - Published on Amazon.com
Verified Purchase
M. JEFFREY MCMAHON
5.0 out of 5 starsWatching a Car Crash Can be a Grotesque Spectacle and Informative
January 2, 2012 - Published on Amazon.com
Format: Hardcover|Verified Purchase

Where's My Stuff?

Delivery & Returns

Need Help?