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Every investor loves a sure thing. But the moment you become completely certain about any position, you have become Nassim Taleb’s turkey, fat and comfortable right up until the day everything goes to zero.
Private equity has become the golden exit for thousands of entrepreneurs, but what happens after the check clears? I have been warning about what I call demonic musical chairs for decades, and the private equity world is one of its clearest examples.
Every time I scroll through financial commentary lately, I see the same recycled outrage about trillionaires, and it tells me one thing: economic literacy in this country is in serious trouble. Let me break down why the panic is missing the point entirely.
The Federal Reserve has a new chair, and his first message is refreshingly simple: stop talking so much. As someone who has watched the Fed turn economists into television personalities while everyday investors get whipsawed by every comment and speech, I think Kevin Warsh is onto something.
When markets sell off and the phones start ringing, I see the same thing over and over again. Investors letting their emotions do the trading for them, and it costs them a fortune.
When markets sell off and the phones start ringing, I see the same thing over and over again. Investors letting their emotions do the trading for them, and it costs them a fortune.
The wealth management industry is quietly drawing a line in the sand, and if you have less than a million dollars in liquid assets, you just fell on the wrong side of it. I’ve been watching this trend build for weeks, and what I’m seeing in the industry publications should make every ordinary investor furious.
Wall Street wants you to think investing is complicated. After twenty years of managing client portfolios, I can tell you the truth: the fundamentals that build real wealth are simple, and the industry’s smoke and mirrors exist for one reason.