What does a room full of multi-millionaires look like? Not what you think!

[Dien Rice]

I've recently been in rooms full of what in Australia we call "sophisticated investors" (the equivalent term in the US is "accredited investors")...

Every country has a different rule as to what this means. In Australia, it means you have to have a net worth of over $2.5 million Australian dollars (which is around $1.8 million US dollars)...

As part of one thing I am doing, I've recently been to a few meetings, where the room was full of (on the one hand) sophisticated investors, and (on the other hand) also full of finance people, and those looking for investment...

What did these wealthy investors look like?

I was expecting button down suits, ties, or elegant business skirt suits for the women, gleaming shoes, $100,000 dollar watches...

Instead... These multi-millionaires looked surprisingly "scruffy"!

You know what... They dressed for comfort! Some of them didn't even comb their hair!

In this case, most of these sophisticated investors were retirees... People who had already retired, and one of their "hobbies" was investing their money in new businesses, either those listed on the stock market, or which were going to soon be listed on the stock market.

When you think of it, it makes sense. If you have the money, and you don't need to impress anyone (instead, other people are trying to impress you, because they want your investment), why not just dress for comfort? Why dress up when you don't need to?

The contrast between the "finance" people in the room (who wore the suits) and the multi-millionaire investors (who dressed in rumpled, comfortable clothing) was incredible!

Well... That shattered my illusions of what multi-million dollar investors look like in their everyday lives...!

Hollywood has misled us!

Best wishes,

Dien