The California Public Employees’ Retirement System is no longer a fan of hedge funds. I never was. But our reasons aren’t exactly the same. With $295 billion in assets, Calpers discovered the challenge of finding great hedge funds and not overwhelming them...
“My business is all referrals.” I hear this claim from financial advisers a lot, and I’m skeptical. My team managed over a billion dollars. We received our share of endorsements. But waiting for them was like watching grass grow. Think about it....
It’s time for the client’s annual portfolio review–and time to take market share, the advisers think. They know the client, a wealthy family, spreads its assets around the Street. And their firm’s results have been exceptional this year. So...
The phone rings. Your hard-charging client says, “I sit on the board of trustees of a charity that…” What follows sounds like Charlie Brown’s teacher. “Whaa-whaa-whaa.” Here we go. He or she is a) moving money out, thereby cutting...
Every financial adviser knows this story in one form or another. It is Friday afternoon, 10 minutes to the market close. Your biggest client calls with a problem. “My daughter lost her wallet. She’s traveling in India. She has no cash, no credit card, no...
A friend of mine recently passed the Series 7, completed his brokerage firm’s training program, and became a full-fledged investment rep. Through a combination of hard work and good, old-fashioned luck, he immediately stumbled across a massive wealth-management...
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.