The Private Equity for Families Blog

As a recent user of ChatGPT I was not aware my version 3.5 which is free is much less powerful than version 4.0 which costs $20/month. So, I bought the upgrade and put it to a test. I have been slightly disappointed with Chat’s ability to search data and

Can you recall your first experience with bubblegum in your hair? It was stickier than you thought and your attempts to eradicate it only spread it more? More painful, however, was you looked like a dork for two weeks after your mother cut out patches of your hair. Inflation

Howard Marks, the founder of Oaktree Capital, is a prolific communicator. He has written letters to his investors since he began managing capital in the mid- 1980’s. While he started with a very stable asset class – corporate bonds – over time he moved into a much riskier neighborhood

This was the first summer I can remember when there was not a stretch of good weather for more than 5 days in a row. What I mean by good weather is also being redefined. Endless rain, big winds, small craft warnings almost every day, and serious flooding were

Depending on whom you ask you will get a different perspective about having the U.S. Dollar as the reserve currency for the world and the medium of exchange for oil and other essential commodities. If you live in Turkey, Venezuela, or Argentina, and have persistent, high double-digit inflation, holding

One of the smartest investors I know taught me “you don’t bank percentages” so even if your bonus is ten percent, if it is applied to below market base pay you likely would be earning less than someone who got 5 % bonus on a higher base. In addition,

Chevy Chase immortalized the American vacation with the Griswold family’s cross-country journey to Wally World.  That was the travel scene in the 1980s before Covid-19, inflation, forest fires, thermal inversions, flash floods, passport processing snafus, sold out National Parks, double digit lodging taxes, shortages of hospitality workers, road construction

When I was first introduced to the stock market by my aunt, a securities analyst for a leading regional securities firm, her formula for success was picking companies that were growing revenues fast and also paying dividends. In the 1960’s the so-called “Nifty Fifty” had many of those attributes

This Monday I was anxious to scour the news for one of the greatest emerging conflicts of my lifetime. I raced right past the war in Ukraine, tensions in the South China Sea, the Wagner Group’s march to Moscow and China’s burgeoning spy base in Cuba. The real news

I attended my 50th college reunion earlier this month and had the good fortune of listening to a dozen subject matter presentations by reunion alums from class years ending in “3” or “8”. I was really interested in a presentation by several of my class members and a gentleman

I am always keeping an eye on a backwater of the U.S. financial system called Zombie Companies. There is a general consensus that “Zombies” are businesses that do not have the cash flow to service the interest on their debt. For example, the biggest zombies in the world right

As digital technology began to emerge in the early 1970’s Memorex entered the consumer media market with a series of legendary TV commercials featuring Ella Fitzgerald. In those commercials, she would sing a note that shattered a glass while being recorded to a Memorex cassette. The tape was played

Several years ago, I was engrossed in a series of investment insights from Ray Dalio’s book “Principles For Dealing With A Changing World Order.” Mr. Dalio is the founder of Bridgewater Associates said to be the largest hedge fund in the world. In a series of monthly chapter releases,

I have been a customer of Key Bank and JP Morgan Chase for a long time and have never had a savings account with either institution. The rates were never compelling and there were always restrictions or disincentives related to withdrawals. Like many of our readers, money market products

I hope this blog headline got your attention because I know of only one way you can earn 21% compound interest risk free in today’s financial markets. But before I reveal this windfall for your wallet let me pick up on a blog I wrote in June of 2022 Credit

The first major collision between the Professional Golf Association (“PGA”) and Saudi – owned LIV Golf (“LIV”) is unfolding in Augusta as we are graced by a trifecta of Easter Weekend, commercial – free Masters’ coverage and a full moon in Georgia. Eighteen of the LIV faithful including Phil

What could possibly go wrong when the chief risk officers for the United States banking system, the Federal Reserve Bank, encourage speculation and risk taking by making it virtually impossible for any enterprise to earn a safe, respectable rate of return on assets? The questions about the failures of

The investment world loves acronyms especially ones that help them sell products. The great revival that began in 2010 and ran unchecked until October 2021 had some really catchy ones like “FAANG” (Facebook, Amazon, Apple, Netflix, Google) “FOMO” (Fear of Missing Out). “TINA” (There is No Alternative) and “YOLO”

Usually, this time of year is exciting just because the weather is lousy and the thought of a few innings in the sun of Prescott Arizona watching the Guardians is really dreamy. This year I am really energized by changes to the rules which are intended to increase fan

Last weekend was the Naples Car Show, formerly known as “Ferraris on Fifth”, where collectors bring their McLarens, Lamborghinis, Aston Martens, Bugatti’s, Paganis, Ferraris, Bentleys, Rolls Royce’s, and Maserati’s out of storage for a charity event that raises more than $1.0 million for a local alcohol and drug rehabilitation

The hottest reservation in America is not the 2023 Superbowl. Rather it is getting time on ChatGPT to experiment with artificial intelligence. I tried and tried and even put my name on a “contact me list” but I could not get a time to experiment. Luckily, I was able to talk to Jessica Berg who is co-Dean