Edgewater

In 1923 a group of America's greatest leaders and richest businessmen held a meeting at Edgewater Beach Hotel in Chicago. Among them were:-

Charles Schwab, head of the largest independent steel company
Samuel Insull, president of the world's largest utility
Howard Hopson, head of the largest gas company
Ivar Kreuger, president of the International Match Co., one of the world's largest companies at that time
Leon Frazier, president of the Bank of International Settlements
Richard Whitney, president of the New York Stock Exchange
Arthur Cotton and Jesse Livermore, two of the biggest stock speculators
Albert Fall, member of President Harding's cabinet

Twenty-five years later, nine of them (all listed above) ended up as follows:-

Charles Schwab died penniless after living for five years on borrowed money
Samuel Insull died broke living in a foreign land
Ivar Kreuger and Arthur Cotton also died broke
Howard Hopson went insane
Richard Whitney and Albert Fall were just released from prison
Leon Frazier and Jesse Livermore committed suicide

No one can really say what happened to those men. If you look at the date of the meeting it was in 1923, just before the market crash and the Great Depression in 1929. We suspect that it had a great impact on these men's lives.

We believe that it is possible that these rich and powerful people may at the same time lack financial intelligence. And money without financial intelligence is money soon gone. - Rich Dad

It is not how much you make, it is how much you keep.