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Mark Hulbert: How reading the Forbes list of 400 richest Americans can make you poorer

CHAPEL HILL, N.C. (MarketWatch) — How, exactly, are you going to become a better investor by drooling over the latest Forbes list of 400 richest Americans?

Now is the time to ask, since Forbes is releasing its latest ranking this week. (Bill Gates topped last year’s list.) That means countless numbers of you, just like Donald Trump, will soon be poring over the list to see how much wealth has been amassed by the richest Americans in the past 12 months.

It’s by far the most-read issue of Forbes of the year. During the 1980s and 1990s, when I was a columnist for the magazine, I coveted a slot in the “Rich List” issue, thereby guaranteeing people would be reading my column for months to come.

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