According to a new study from Merrill Lynch, there are 6% more millionaires today than there were a year ago. And the China, India, and Brazil had the sharpest increase in new millionaires.The number of millionaires increased by 22.7% in India last year, 20.3 % in China, and 19.1% in Brazil.The study also found that 103,320 had a net worth of $30 million or more , an 8.8% increase. "This year's report found that the number of high net worth individuals and the amount of wealth they control, continued to increase in 2007, with the greatest wealth being created in the emerging markets of India, China and Brazil."

Short post - and an apology. I previously posted on Fun and games in hedge fund land. That post was about a fraudulent (and now disappeared) hedge fund. The title of the post was needlessly offensive. What New World Capital did was not fun and games. I have been contacted by someone who lost a considerable part of their net worth in that fund. To them it is a tragedy. Greg Duran (the guy who ran New World) took real money which was the embodiment of real people's financial aspirations - sending their kids/grandkids to college etc. This blog is read primarily in hedge fund centers. My readers are clustered in New York, Connecticut, San Francisco, London. There is also a cluster of readers in Santa Fe and Alberquerque. [I am using Google analytics to map my readers.] The readers in Santa Fe stay ...