If you'd asked me as a kid how rich people became poor, I'd have said by spending all their money. That's how it happens in books and movies, because… - Paul Graham

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If you'd asked me as a kid how rich people became poor, I'd have said by spending all their money. That's how it happens in books and movies, because that's the colorful way to do it. But in fact the way most fortunes are lost is not through excessive expenditure, but through bad investments.