NYTimes: Now Even Millionaires Can See the Benefits of Budgeting

From The New York Times:

WEALTH MATTERS: Now Even Millionaires Can See the Benefits of Budgeting

Even the wealthy have grown cautious about managing personal income.
Does one buy a Porsche or an Acura?

http://www.nytimes.com/2009/09/19/your-money/19wealth.html

The part that made me take notice was a drop in long term invesments
like VC or private equity. There are fewer and fewer pools of capital
to act as limited partners.

When individuals stop entering these funds, and banks, endowments and
foundations are unable to put much
money to work. Then VC funds will disappear.

These individuals might act more as angel investors, bypassing the
funds and money managers to infuse finances directly. But the managed
pooled money could be at risk.