The Private Equity for Families Blog provides insight, information and opinion for successful families who want to include in their portfolios private equity or direct investment in privately-held businesses.
Anyone who owned Bitcoin for long enough to have experienced its wild appreciation was excited to learn in December that the Chicago Board of Options Exchange (CBOE) was authorized to permit trading in Bitcoin futures (CBOE,XBT). Somehow I knew this would not be what I expected and the game would be rigged in favor of […]
Bitcoin Futures – The Grizzly and the Salmon Read More »
For those of us who are challenged by the pace of news and information or the great majority of us who simply do not have the time to dig into anything, The Wall Street Journal has an answer. Over the last six months subscribers to The WSJ have been encouraged to sign up for “The
Wall Street Journal Innovation Read More »
Connected To Home As Thanksgiving approaches I notice excitement and enthusiasm everywhere for returning home. In Robert Frost’s poem, “Death of the Hired Man”, Silas, an itinerant handyman, comes home to die at Warren and Mary’s farm. Even though they are not family and he has a rich brother, home for Silas is where he is
The Congressional Budget Office usually does a good job of predicting the financial future for our country. Its 2017 Report looks out over the next 10 years and predicts many trends that we all know: Budget deficits will grow and accelerate Interest rates on government debt will rise to almost 4% in 2027 Government debt
Death By Compounding Read More »
Margin of Safety I admire Seth Klarman for his investment discipline and his realistic view of business models and securities analysis. As I have written before, his book “Margin of Safety-Risk Adverse Strategies for the Thoughtful Investor” is out of print but can be purchased online for slightly more than $2000. I have read it
I am amazed at the number of highly profitable business models focused on monetizing individual identity, location and movement, credit, socialization, and dating. The internet has allowed many companies to leverage you for their gain and profit. But one of them stands out as extraordinary. The three Credit Reporting Agencies. (Experian, Equifax and TransUnion), have
Take Control of Your Credit Proflie Read More »
Taking a page out of the Austin Powers movie “The Spy Who Shagged Me” the financial world has introduced its own Mini Me clones of the Private Equity Asset Class. The August 26 edition of The Economist unveils these two new offerings. One is offered by State Street Investments using their own database of private
Cloning Private Equity With An Index Fund? Read More »
The most important ingredient of success in private equity is not capital. It is people. After 40 years of working in mergers and acquisitions as a lawyer, investment banker and private equity owner I come back to people as the biggest variable in my success and failures. Why is it so hard to find good
Why Is This So Hard Read More »
Freakonomics has really interesting podcasts, and the last one of a three part series on August 20, entitled “Bad Medicine” did not disappoint. The long standing view of the big three causes of death was Heart, Cancer and Respiratory. According to The Center For Disease Control, here is the list for 2014 sorted by the number
When Luca Pacioli introduced double entry bookkeeping in the 15th Century that single idea spawned acceptance of the modern corporation as a vehicle for collaborative business because it created an auditable trail of financial entries. The third party trust and validation business was soon to follow and has blossomed and grown ever since. Until I
Disrupting Trust and Validation Business Read More »
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