The changing fortunes of Linamar Chair Linda Hasenfratz may point to both a limit to Trump’s ongoing trade assault on Canada, and a potential way forward for the country’s beleaguered manufacturers.

Why billionaire fortunes from the 80s no longer exist. Because the second & third generation inheritors of wealth stop allocating capital efficiently. The industrialist builds & the nepo baby gets stuck in guilt & status games.

India’s finance boom has produced fortunes across everything from private banking to online broking. @advait_px breaks down the five wealthiest names on Bloomberg’s ranking of those who made their money in financial services:

$368 billion disappeared from the fortunes of the world's 10 richest people in July. See who gained, who lost and how the rankings changed as of Aug. 1, according to Forbes:

Jesse Livermore made one of the most famous fortunes in Wall Street history. Then he went bankrupt again. In March 1934, TIME reported that Livermore listed liabilities of $2.26 million against assets of about $185,000. It described this as his fourth financial failure. That wasn’t the first time. His lawyers said he had previously made three very large fortunes and failed three times, paying his creditors in full after those earlier failures. His 1929 reputation came from profiting enormously during the market collapse. The often cited figure is around $100 million, although the precise amount is difficult to independently verify. But this is where Livermore’s story becomes useful to a trader. Making money and keeping the ability to make money are two different skills. A great trade can demonstrate exceptional market understanding. It cannot prove that the same approach will remain profitable through every future regime. That requires something different Knowing when conditions have changed. Knowing when your edge has weakened. And, perhaps most importantly, protecting enough capital to keep participating when your next opportunity arrives. Livermore’s story isn’t simply about how much money a trader can make. It is about whether the trader can survive long enough to make it again.