Barclays Wealth has just released the results of a study that studies the way the rich people take risks. It studied a group of people who had more than $1.5 million in investible assets. Those who had more than $15 million bought and sold investments more than the rest. The ones with less amount of money took lesser risks. It was also found that men take more risks in investing than women, and Asians take more risks than the rest of the other regions.
Perhaps, investing is a testosterone fuelled power defining phallic exercise that allows people to show how risky they actually can be. At the end of the day, it all boils down to basic human nature of power, lust and domination. Risk taking behaviour is seen in people who have these traits. The Barclays Wealth study is pretty redundant and everyone knows that the rich would have enough money to spend, and even if they lost it wouldn’t make a difference.
So, the very fact that a bank would try to conduct a study has no real implications and the ‘research problem’ seems to be trivial. If we are talking about what a profound research is, you should ask me, for that is exactly what I do in my University. Conduct a really profound research with great implications for the betterment of mankind. The world’s rich and the super wealthy really are lucky! So, go ahead, and take a look at the way you spend money. Do you take risks? If so, you might soon become richer.