Columns
March 8, 2016
Harold Pine is managing director of multifamily office Chasefield Capital
By a Luxury Daily columnist
Increasingly, the ultra-wealthy – those with a net worth of $30 million or more – are taking a closer look at how they handle their financial affairs due to the low returns and high fluctuations experienced in 2000-2002, 2008-2009, 2011 and now early 2016.
{"ct":"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","iv":"fdfe0e421e2c4508de668fb891c38508","s":"9b2bd155325a3d3d"}
Share your thoughts. Click here