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.
I have a great high school friend who knows how to motivate me. When I was editor of the high school newspaper he would always provoke me to write controversial editorials by posing the unanswerable question knowing, full well, I would be crazy to find an answer. Fast forward to our respective retirement transitions and […]
Bezos Rocked Me Like Muhammad Ali Read More »
I was inspired by another archived podcast I heard on Planet Money about former Goldman Sachs partner Neel Kashkari. As interim Assistant Secretary of the Treasury For Financial Stability, Mr. Kashkari is best known for overseeing the TARP program in 2008 and 2009 under his former boss, Hank Paulson. Mr. Kashkari is now President of
Kashkari and Dimon Debate Too Big To Fail Read More »
In 2001 and 2009 the investment world was introduced to Nicolas Taleb and his two blockbusters “Fooled By Randomness” and “The Black Swan”. Arguing that some investment styles only work in certain conditions and not to confuse skill with luck, the first book schooled investors to look at a manager’s process not just his results.
A Swing and Miss Business Model Read More »
My wife is a good cook. She claims it is all about following directions and has little to do with inspiration or special talents. While I doubt her modesty I do see her following closely the step by step recipes for dishes from Ina Garten, Giada DeLaurentiis, Mario Batali and James Beard that run from
Why Not Write an Investment Cookbook? Read More »
The Wall Street Journal recently focused on the rise of family offices as significant disrupters of the private equity model. In an interesting article by Anupreeta Das and Juliet Chung entitled “New Force on Wall Street: The Family Office” the authors confirm a trend we have been seeing for the last 10 years. Increasingly, wealthy families
Despite Advantages, Family Offices Won’t Put Us Out of Business Read More »
Every year the US Government releases its Annual Report to its citizens. It is always interesting to see where we stand. Chart 4 below shows a 2016 balance sheet for the U.S. government. The assets are $3.4 trillion comprised mostly of student loans. The liabilities are $22.75 trillion comprised of two thirds federal debt (principal
$30 Trillion of Debt Doesn’t Worry Anyone Read More »
The Economist has an interesting journalistic twist. Several of its opinion columns like Schumpeter, Buttonwood and Bagehot are named for inflexion point economists, political theorists or iconic events. For example, Schumpeter is named for Joseph Schumpeter who published a 1942 best-seller called “Capitalism, Socialism and Democracy”. Mr. Schumpeter was not bullish on the capitalist model
An Obituary for Democracy and Capitalism Read More »
In a nation of chronically obese and out of shape citizens why does anyone want a smart refrigerator? Based on my superficial and uneducated experience with other smart devices like cellphones, autos, iPads, computers, and Fitbits I have formed an opinion that smart devices are way too needy. Take the iPhone; I get a notice
Why Do You Want Your Fridge To Be Smart? Read More »
With a title like this you are probably thinking PE4Fams committed the cardinal sin of good journalism, a typo in the headline. Not so fast my proofreading friends, this blog is about disruptive technologies and the pervasive onslaught of India Pale Ales. The Economist Editorial staff produced a really interesting history of IPA’s in its
Don’t Let Your Business Get IPA’ed Read More »
Turning the page on a great year is always bittersweet. While the future is exciting, the status quo is also mighty inviting. For private equity, 2016 will go down with Dickensian hyperbole as “The Best of Times”. Our business model turns on six or seven main ingredients, the absence of any one of which can
A New Year for Private Equity Read More »
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