Simon Murray started his career as an investment analyst in London. He then worked on government-sponsored research study at Oxford University into the strategic role and responsibilities of boards of directors in FTSE 100 companies. Since working at Coopers & Lybrand, he has built and run successful advisory businesses in the wealth management, asset management and asset servicing sectors. He regularly writes and chairs roundtable discussions on global investment issues.
It is not surprising to hear that some asset-rich family offices have cash-flow concerns. A number of family offices need to generate more cash to support family expenditures.
Many business leaders and recruiters understand the importance of appraising a person’s emotional quotient (EQ) as well as their intelligence quotient (IQ). This distinction can also be a useful way of appraising your asset manager. What is more important in today’s turbulent markets: high IQ or EQ?
Inflation is a hot topic right now, and the dilemma that family offices face is how to measure inflation rates, and how to assess the positive and negative impact of inflation on future wealth.
It pays to be sceptical about economists. They’ve consistently failed to predict when investment bubbles will burst. Their simple indicators don’t capture the complexity of what is going on.
Executive Order 6102, issued by the US Government on April 5th 1933, should send a shiver down the spine of today’s diversified investor. It demanded, with few exceptions, that “all persons are required to deliver all gold, gold bullion and gold certificates now owned by them to a Federal Reserve Bank”. Criminal penalties for violation included a “$10,000 fine or 10 years imprisonment or both”.
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