Big Shots Feeling Financial Pain: Buffett, Harvard, and the Millionaires-Only Yellowstone Club

Investing gurus and other big shots are down with the rest of us.


Your 401(k) is probably looking pretty pitiful. But it might give you a little comfort to know that it's not just you—even investing gurus and big-shot CEOs are feeling the hurt. According to DealBook:

So far this year, the average decline of the corporate stock holdings of CEOs at 175 large U.S. companies is about 50 percent.

The equity value in Buffett's Berkshire Hathaway is down about 22 percent.

The roughly 69 million shares of Yahoo that Carl Icahn bought earlier this year were valued at about $20.60 as of June 30 and are currently trading around $12.

And Harvard's president said yesterday that the university's $36.9 billion endowment—the nation's largest—may face "unprecedented losses."

Also, consider that the exclusive Yellowstone Club—a Montana playground for the megawealthy—filed for Chapter 11 bankruptcy on Monday, saying that it is unable to secure financing with creditors and bondholders.