He travels to Greenwich, the now defunct Yellowstone Club and Palm Beach and dishes on the habits of the then pre recession wealthy in America, at least some of whom are now presumably dumpster diving in abject poverty.
The book is great, you learn about liquidity events, household managers, butler college, rich kids summer camp, people with 200' yachts with inferiority complexes because they berth next to 400' yachts. I couldn't put it down. Frank wrote a sequel in 2011 titled The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust that is now a must read.
Tore through Richistan in less than two hours. Funny and insightful. Pick it up.
1 comment:
Correction Blue Heron Blast - the only thing defunct about the the Yellowstone Club is its former owner Tim Blixseth who was forced into bankruptcy and was found guilty of fraud over his real estate transactions. The Yellowstone Club still exists and is open under new management.
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