Here's something that might provide a bit of solace amid the plunging values in your retirement accounts: Warren Buffett is losing lots of money, too. So are Tracinda's Kirk Kerkorian, investor Carl Icahn and CBS' Sumner Redstone.
They are still plenty rich, but their losses - some on paper and others actually realized - illustrate how today's punishing market has spared few victims, with even big-name investors, corporate executives and hedge-fund titans watching their wealth evaporate.
"It's always hard to beat the market no matter who you are," said Robert Hansen, senior associate dean at Dartmouth's Tuck School of Business. "But when the ocean waters get that rough, it is hard for any boat to avoid getting swamped."
The Associated Press
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