Recently I reread Edward Chancellor’s book, “Devil Take the Hindmost: A History of Financial Speculation” (Farrar, Straus and Giroux, 1999) and was reminded that some books on the markets must reread from time to time.
These pages often remind folks of Wall Street excesses and foolishness. During the early to mid-1980s there was a great deal of complacency that surrounded the billions of dollars that were being invested in syndicated limited partnerships of the day.
Trusts are not for the rich. They are used for amounts as small as $10,000. Because they are often a private family matter, few facts are available on their number or average size. However, the average size of all currently active American trusts is probably between $55,000 and $110,000.