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jerryking : passion_investing   16

Thane Stenner: Here’s where the wealthy get their investment ‘edge’
Mar. 02, 2016 | The Globe and Mail | THANE STENNER.

They have clear investment goals: High-net-worth individuals are obsessive goal setters. They always know why they’re investing (beyond “to make money”). They reverse-engineer their return objectives to meet both long- and short-term goals.

They know when to delegate: High-net-worth investors are not “do-it-yourself” investors.

They think risk first: High-net-worth individuals are generally focused on wealth protection as much as wealth generation.

It’s business: In general, high-net-worth investors tend to be good at “segregating” their emotions from their investment decisions.

They keep the news in perspective: Most wealthy individuals are news junkies. Of course they listen to, digest, and consider a lot of financial news. But the focus of their attention is on long-term trends, not necessarily up-to-the-minute financial data. And they think very, very carefully before making any decision based on news.

They seize the opportunity in crisis: Most high-net-worth individuals are born contrarians.
high_net_worth  slight_edge  investing  investors  rules_of_the_game  Thane_Stenner  goal-setting  contrarians  reverse_engineering  wealth_protection  kairos  impact_investing  passions  passion_investing  calm  Carpe_diem  Michael_McDerment  thinking_deliberatively  thinking_backwards  work-back_schedules 
march 2016 by jerryking
How to Leave a Mark - NYTimes.com
JAN. 27, 2015 | NYT |David Brooks.

Impact investors seek out companies that are intentionally designed both to make a profit and provide a measurable and accountable social good. Impact funds are frequently willing to accept lower financial returns for the sake of doing good — say a 7 percent annual return compared with an 11 percent return. But some impact investors are seeking to deliver market-rate returns....It’s hard to find a reliable way to measure the social impact of these dual-purpose companies. Impact investors have also had trouble finding scalable deals to invest in. It costs as much to do due diligence on a $250 million deal as on a $25 million deal, so many firms would rather skip the small stuff... impact investing is now entering the mainstream. An older generation used their (rigorous) business mind in one setting and then their (often sloppy) charity mind in another. Today more people want to blend these minds. Typically a big client, or a young heir, will go to his or her investments adviser and say, “I want some socially useful investments in my portfolio.”...Impact investing is not going to replace government or be a panacea, but it’s one of a number of new tools to address social problems. If you want to leave a mark on the world but are unsure of how to do it, I’d say take a look. If you’re a high-net-worth individual (a rich person), ask your adviser to get you involved. If you’re young and searching, get some finance and operational skills and then find a way to get involved in a socially useful investment proposition. If you’ve got a business mind, there are huge opportunities to build the infrastructure (creating measuring systems, connecting investors with deals).
David_Brooks  capitalism  impact_investing  hard_to_find  Michael_McDerment  high_net_worth  new_graduates  skills  passions  passion_investing  TBL  social_impact  measurements  high-impact  heirs 
january 2015 by jerryking
Bob McCown hits sports broadcast milestones and is still going strong - The Globe and Mail
COURTNEY SHEA
Special to The Globe and Mail
Published Sunday, Sep. 28 2014,

Over the past few years, friends were always saying to me that I should be “expanding my brand.” I didn’t really think much of it at first, but then about three years ago I made a list of other sorts of projects that I might be interested in getting involved in. I picked my two favourites, which were to form my own production company and to own a winery. I did both of those things, launching Fadoo Productions and buying Stoney Ridge Winery. Both have been going even better than I could have predicted. The production company recently shot the new Rush concert video which went to No. 1 on Billboard the first week it was out. It’s funny because the whole reason for starting these projects was to see if the value of this brand I had created could translate to ventures outside of broadcasting, but what I didn’t realize was how being part of new projects would contribute to my existing work.
passions  passion_investing  personal_branding  product_launches  radio  sports  broadcasting  vineyards  sportscasting 
september 2014 by jerryking
A Day in the Life of Sheila Johnson - WSJ.com
May 20, 2013 | WSJ | By JEFFREY PODOLSKY.

A Day in the Life of Sheila Johnson
A TV pioneer has parlayed her fortune into a consortium built on personal passions.
angels  BET  African-Americans  television  passions  passion_investing  women 
may 2013 by jerryking
Cashing In, Business Valuation Article - Inc. Article
Aug 1, 2004 | Inc.com | by Ian Mount. Profiles of four entrepreneurs who cashed in -- and what they bought afterwards.
entrepreneur  exits  Second_Acts  passions  passion_investing 
july 2012 by jerryking
When Opportunity Knocks and Knocks - NYTimes.com
August 15, 2007 | WSJ| By BRENT BOWERS.

''We boomers are searchers,'' she said. ''We've done a lot, and we want to merge what we like to do with our plans of what to do next. Or, we may not want to do something we've done before; we might want to try something entirely new. So the question becomes not just, 'What business will I run?' but ''What will I do with my life?' ''

Ms. Smith applauded Mr. Weitz for taking his search so seriously. ''There will be more and more people like him, and they will give a new definition of entrepreneurship,'' she said.

Acting as matchmaker, I set up a phone conversation between searcher and strategist.
search_funds  baby_boomers  entrepreneur  yoga  opportunities  passion_investing  passions  entrepreneurship 
june 2012 by jerryking
Forging Ahead
April 9, 2007 | Worth

Wealthy seniors far from retiring.

Gone are the days when retirement was associated with a rocking chair. Older millionaires are returning to the workforce or redirecting their energy to volunteer work and travel, according to the Northern Trust Wealth in America 2007 survey released April 2.

Among the 1,002 respondents to an online survey conducted last November and December, 48 percent said they were retired, but 29 percent have returned to the workforce—18 percent part time and 7 percent full time, with 4 percent looking for work. Among respondents older than 70, one in six remains in the workforce, either rejoining the ranks of the working after retirement or never retiring at all.

“Retired business owners and executives tell us that they want to give back the knowledge they've gained during their careers." said Gregg Yaeger, head of the financial Consulting Group at Northern Trust. “And many continue to explore and start or invest in new ventures."

Seventy-six percent of respondents said ensuring a comfortable standard of living was a key retirement Issue, while health-related issues, both financial and physical, also ranked as top concerns. The study found that 64 percent of millionaires believe It is important to pursue personal interests and hobbies in retirement; 61 percent want to travel; 53 percent desire an active lifestyle; 30 percent want to volunteer in their communities; and 30 percent would like to continue their education.
surveys  high_net_worth  retirement  work_ethic  work_habits  start_ups  passions  passion_investing  seniorpreneurs  owners  Second_Acts 
june 2012 by jerryking
Second Wind
September 2005 | Worth | By Jeff and Rich Sloan.

1. Choose a business (and a role within it) that reflects your personal passion and lifestyle.
2. Spend 20 hours working each week instead of 60.
3. Place the importance of your employees" personal success as your company's financial bottom line
4. Use your VIP status to open doors that most small companies can only dream of opening.
5. Drop the corporate diplomacy you perfected in years past and replace it with straight talk.
6. Hire pcople who not only share your vision but who are willing to take big risks and take your vision to new heights.
7. Set up the company so they can run it.
8. Have fun!
Gulliver_strategies  retirement  Second_Acts  serial_entrepreneur  factoring  passions  passion_investing  lifestyles  seniorpreneurs 
june 2012 by jerryking
Wealth Matters - The Rules That Madoff’s Investors Ignored - NYTimes.com
January 6, 2009 | | By PAUL SULLIVAN.

THE 10 PERCENT RULE The saddest Madoff stories are the ones about life savings lost. These were people who had, say, $5 million in one of his funds and now have nothing. Honestly, the people themselves need to bear some responsibility for this. The most basic book on investing will tell you never to put more than 5 or 10 percent into any one investment, particularly one meant to preserve wealth…Having a concentrated stock position when you’re working for a company is sometimes unavoidable. If you were a senior executive at Lehman or Bear Stearns, a part of your bonus was paid in shares, and such restricted stock needs to be held for a period of time, generally two to seven years. Having a concentrated position in other circumstances, however, is foolish. Any responsible wealth manager works to reduce or hedge a person’s concentrated stock position. With Mr. Madoff, investors went the other way and added money year after year. Discipline is key: stick to 10 percent or less and remember that any investment can go bust.
CONSISTENCY IS BAD - Consistency at the highest level isn’t bad; it’s impossible. There are too many variables that inhibit being great on a regular basis.
THE GRAND FALLOON Kurt Vonnegut coined this phrase in “Cat’s Cradle,” and never did it have a more devastating application than in the Madoff scheme. In Vonnegut’s world, a grand falloon was a false association mistaken for friendship — two people from the same town, same university, same company meet somewhere and believe that coincidental connection has significant meaning. It doesn’t, no more so than belonging to the Palm Beach Country Club or the Fifth Avenue Synagogue did for those who used their proximity to Mr. Madoff to coax him into taking their money.
This is a crucial point particularly in opaque investments, from hedge funds to private equity partnerships: just because someone is a good golfer does not mean he should be trusted to invest your money. Private bankers are forever telling their clients not to try to get into someone’s hedge fund just because you enjoyed their conversation on the course — or, worse, want to play with them again. Like taking care of your health, picking an investment adviser should be done with the utmost rigor.
‘DON’T ASK, DON’T TELL’ - Ask questions and don’t assume the person who brings an investment to you has vetted it. Nothing in which you are putting millions of dollars is so wonderful that it cannot withstand scrutiny.
PUT MONEY IN BUCKETS - follow the popular wisdom of private bank investment strategists: divide your money into buckets to insure the money you need to live on will always be safe. Most strategists advise putting your riskiest assets into your philanthropy bucket.
Bernard_Madoff  high_net_worth  fraud  mistakes  opacity  friendships  trustworthiness  diversification  biases  personal_finance  financial_planning  grand_falloon  wealth_management  concentrated_stock_positions  high-risk  philanthropy  due_diligence  passions  passion_investing  impact_investing 
october 2011 by jerryking
Be The Advisor Who Helps Business Owners Respond To Change
Dec 1, 2008 National Underwriter | Life & Health | by John H Brown.

The US and world economies are changing fast. As an advisor to business owners, you know that, as a group, they are not as uneasy about the stock market's wild fluctuations as are the rest of your clients. You must reach out to your business owner clients. It is your job to understand that owners can still achieve their goals, to implement the strategies necessary to reach those goals and to share that information with your clients. Once business owners are clear about their objectives, you can evaluate the business and personal financial resources available to fund those objectives. Central to any company's planning is the need to motivate management to attain specific performance standards, such as meeting budget or reaching a specific sales goal or perhaps a departmental profitability objective. The current financial storm is not life threatening for most of your business owner clients -- if they respond.
ProQuest  financial_advisors  small_business  JCK  entrepreneur  passions  passion_investing  impact_investing  indispensable  owners  generating_strategic_options  objectives  control_systems  rewards 
february 2010 by jerryking
Boomers Turn to 'Hobby' Jobs
Feb 7, 2007. |Wall Street Journal. (Eastern edition). New York,
N.Y.: pg. B.5D| by Victoria Knight.

Insufficient savings and longer life spans mean some boomer can't
afford to give up work entirely. So they should consider part-time
"hobby" jobs, defined as paid tasks that are enjoyable rather than a
chore.
baby_boomers  retirement  Second_Acts  passions  passion_investing 
april 2009 by jerryking

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