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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
Revolving Door Deals by Peter Ireland Bebo’s $849M Implosion Teaches a Brutal Lesson in Business This news story gave me a chuckle as I have a long-held fascination with revolving door deals. There are two basic kinds. The unintentional and the intentional. The Bebo one is an example of the unintentional variety with a spectacular payoff. Also-ran social network Bebo has been bought back by one of its founders for$1 million five years after that same founder, along with his wife, sold Bebo to AOL for $850 million. Sure, the couple made out like bandits, but there’s a bigger lesson here: Buying a copycat social network is a terrible idea. (source) In a nutshell, a revolving door deal is one in which a company is sold and then taken back when the buyer is unable to make his payments. The seller gets to keep the down payment and all the other payments received to date in addition to regaining full control of the business. I believe the term was first coined to describe Kirk Kerkorian’s various deals involving Las Vegas casinos and movie studios. When a buyer came along who needed seller financing help, Kirk would accommodate them but under some pretty onerous conditions. These were created by having a set of covenants that would create a death spiral in the event that the buyer failed to comply with even a single one. The Death Spiral Kirk Kerkorian the master of the revolving door deal. Let’s take a quick look at an example involving public company. I will keep this as simple as possible to get the basic concept across. If the buyer misses a single debt payment a penalty would be triggered. The penalty could be the release of a sizable block of free trading common shares to the seller. If the share price then dropped below a certain level as a result of the market being flooded with new shares, it would trigger a second penalty such as the release of more stock to the seller. If this then drove the share price down below another level, it would trigger cascade of other events which would start returning control of the company to the seller. This could be more shares, more board seats, and even the ability to replace the CEO. Think of it as a chain reaction triggered by a single incident. Kerkorian was a master at this game who sold some companies multiple times. We analyze one of them in detail in the Playbook. Lesser tycoons use this same tactic with certain types of smaller privately-held businesses. It’s not uncommon for inexperienced buyers to run into trouble making payments and then lose the company back to the seller. Indeed some business owners see revolving door sales as a source of extra revenue. As a result, the practice is common in industries where the business is basically faceless and the customers don’t care who the owner is. Think self-serve businesses such as car washes, […]
Small Business vs Entrepreneurship vs Capitalism If you are trying to get a handle on The Tycoon Playbook as some still are, I think this may help. Think of the business world as having three separate rungs. At the bottom you have the small business rung. The consensus definition of small business is that it’s primarily about having a steady pay-check for oneself with a little extra left over, hopefully, for the Golden Years. As a result, typical small business owners are concerned with playing it safe, taking as few risks as possible, and basically maintaining the status quo. Once a small business owner has reached a certain level of income their focus shifts to merely maintaining it rather than increasing it. Many small businesses can be found along the proverbial “Main Street.” On the next rung up is entrepreneurship. Entrepreneurship is an entirely different game. It’s about marshaling resources and taking calculated risks to create something new that will hopefully reward the founders with substantial wealth. Entrepreneurship has no allegiance to the status quo. Rather it’s about starting from scratch and disrupting the marketplace. Most entrepreneurial ventures will be found in emerging industries and fast growth markets. A few years ago I found myself in a heated exchange with a college business professor who was claiming that there is no difference between small business and entrepreneurship. I was flabbergasted by his inability to see the obvious differences. The highest and most lucrative rung is capitalism. Capitalism is simple to grasp if you think of it this way. It’s about using capital to acquire more capital. To make the concept as simple and clear as possible, it’s about starting with a single cashflow, in most cases, and then using it to keep acquiring more cashflows until the clock runs out. If you study how billionaires have made their fortunes over the past 200 or so years starting with the first tycoon, Commodore Cornelius Vanderbilt, you will see that wheeling and dealing in assets is the most proven route to great wealth. Most people today don’t understand this because for the past 15 years the media has been obsessed with the Internet and technology wunderkind. This narrow focus has led the masses to conclude that the Internet is the only road to wealth creation. However, for every online success story you hear about there are hundreds of failures, and I am only counting the teams which had a shot a success. I am excluding all the one-person blogs and sites that comprise 99.9999% of the 250 million domains registered as of December 2012. To put it bluntly, there’s just too much competition online today. All of the low-hanging fruit that could be picked by the little guy or gal was gone ten years ago. Today you need a high quality team and financial backing to go after any online opportunity still worth pursuing. Another serious problem with doing business exclusively online is the culture. No one under […]
/ Behaviour Economics, Capitalism, Christianity, Economics, Faith, Financial Literacy, Financial Planning, Money, Money Values, Productivity, Prosperity, Psychology of Money, Risk management, Spiritual, True Wealth, Wealth Preservation
Part One – The Ideal Economy To learn more, click here. Part Two – What Goes Wrong To learn more, click here. Part Three – Why It Goes Wrong To learn more, click here. Part Four – Principled Reasoning To learn more, click here. Part Five – Investment Decision Making To learn more, click here. Part Six – Global Economy and Investment Markets To learn more, click here.
Dambisa Moyo: Is China the new idol for emerging economies? The developed world holds up the ideals of capitalism, democracy and political rights for all. Those in emerging markets often don’t have that luxury. In this powerful talk, economist Dambisa Moyo makes the case that the west can’t afford to rest on its laurels and imagine others will blindly follow. Instead, a different model, embodied by China, is increasingly appealing. A call for open-minded political and economic cooperation in the name of transforming the world. Dambisa Moyo is an international economist who analyzes the macroeconomy and global affairs. WHY YOU SHOULD LISTEN TO HER? Dambisa Moyo’s work examines the interplay between rapidly developing countries, international business, and the global economy — while highlighting opportunities for investment. She has travelled to more than 60 countries over the past decade, studying the political, economic and financial workings of emerging economies, in particular the BRICs and the frontier economies in Asia, South America, Africa and the Middle East. Her latest book,Winner Take All: China’s Race for Resources and What It Means for the World, looks at how commodities markets influence much more than the global economy — and examines the possible consequences of China’s unprecedented rush for commodities such as oil, minerals, water, and food, including the looming specter of commodity-driven conflict. She is the author of the brilliantly argued Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa and How the West Was Lost: Fifty Years of Economic Folly and the Stark Choices Ahead. Previously, she was an economist at Goldman Sachs, where she worked for nearly a decade, and was a consultant to the World Bank in Washington.
Billionaires Dumping Stock + Running From Wall St. Billionaires are jumping ship from Wall St., with Warren Buffet and George Soros among the notable 1% dumping their stocks in an effort to avoid a feared market crash. We look at analysis of the moves by the power hitters and how too big to fail banks look set to take another hit in this Buzzsaw news clip with Tyrel Ventura and Tabetha Wallace.
/ Behaviour Economics, Billionaire News, Capitalism, Economics, Financial Literacy, Financial Planning, Financial Planning Advice for Advisors, Millionaires, Money, Money Values, Prosperity, Psychology of Money, Wealth Preservation
Enzo Calamo Is A Best Selling Author
Enzo Calamo is the Best Selling co-author of "How To Create Infinite Returns In Real Estate Using The Secret Asset: How To Recover All Business and Personal Expenses Using The Secret Asset" This is a must read for every affluent investor.
Enzo Calamo Is A Gold Award Curator
Scoop.it describes Enzo Calamo "as a rock star of content curation."
Lugen Family Office is the Most Trusted Online Curator on Legacy Planning, Wealth Management, Financial Literacy, Family Business, Philanthropy, Technology Trends, Healthy Living, and the UHNW.
ALL POSTS ARE CURATED BY ACTUAL EXPERTS!
Check out our 11 Gold Award UHNW Newswires.
- Stay on Your OWN Path – Kerry Washington (@kerrywashington) – #Entspresso – YouTubeDecember 9, 2016
- Naveen Jain’s Top 10 Rules For Success (@Naveen_Jain_CEO) – YouTubeDecember 9, 2016
- Follow Your PASSION – Pep Guardiola – #Entspresso – YouTubeDecember 9, 2016
- Bradley Cooper’s Top 10 Rules For Success – YouTubeDecember 9, 2016
- Here’s Why You Shouldn’t Multitask, According to a MIT NeuroscientistDecember 9, 2016
- 7 Reasons Why Servants Are Better in LeadershipDecember 9, 2016
- The $2.6 million Bugatti Chiron is like no other car in the worldDecember 9, 2016
- Wall Street opens higher on gains in health stocksDecember 9, 2016
- U.S. wholesale inventories fall in OctoberDecember 9, 2016
- Here’s the presentation David Einhorn just gave to a room of elite hedge fund managersDecember 9, 2016
- Combine Long-Term Care With Life Insurance? Do the Numbers FirstDecember 9, 2016
- Combine Long-Term Care With Life Insurance? Do the Numbers FirstDecember 9, 2016
- ‘Evidence not politics’: Committee recommends ending Ottawa veto on pipelinesDecember 9, 2016
- The US is $19.9 trillion in debt — here are the countries we owe the mostDecember 9, 2016
- A financial planner reveals an important money lesson young people can learn from the richDecember 9, 2016
- ‘The 4-Hour Workweek’ author Tim Ferriss reveals 2 common principles he’s found in successful peopleDecember 9, 2016
- Q&A: GoFundMe CEO Rob Solomon on the Fort Mac Fires and the future of online givingDecember 9, 2016
- Government workers keep getting richer off money taken from the rest of usDecember 9, 2016
- Americans’ odds of earnings more than their parents have plungedDecember 9, 2016
- Robert Shiller on the market rally: ‘Trump does magic’December 9, 2016
- Markets are on a ‘sugar high,’ billionaire hedge fund manager Marc Lasry saysDecember 9, 2016
- This Is How Billionaires Do Their Christmas ShoppingDecember 9, 2016
- Billionaire Rinehart Cleared to Buy Iconic Aussie Cattle CompanyDecember 9, 2016
- Carlos Slim Invests $750 Million More in Telekom AustriaDecember 9, 2016
- Australia’s Luxury Car Market Has Hit A Record High — What’s Behind It?December 9, 2016
- Sports Direct tycoon Mike Ashley buys a £40m JET despite plummeting profitsDecember 9, 2016
- The rise of the ‘Social CEO’December 8, 2016
- 15 of the Most Beautiful Places in Canada | Cosmopolitan – YouTubeDecember 8, 2016
- How To Accumulate Real Wealth | CNBC – YouTubeDecember 8, 2016
- 5 More Reasons Why Most People Don’t Become Wealthy | Brian Tracy – YouTubeDecember 8, 2016
- PepsiCo CEO: I Write Letters to Parents of My Executives – YouTubeDecember 8, 2016
- The David Rubenstein Show: Bill Gates – YouTubeDecember 8, 2016
- China is about to hit Macau hard, and casino stocks are getting spankedDecember 8, 2016
- A behavioral economist reveals when it’s time to quit to your jobDecember 8, 2016
- Something interesting — and possibly alarming — is happening with Tesla stockDecember 8, 2016
- Inflationary pressures are stirring in ChinaDecember 8, 2016
- 4 billionaires who support kids non-profits | EasierDecember 8, 2016
- Only 51% of 30-year-olds are making more money than their parents didDecember 8, 2016
- Stock benchmarks just did something they haven’t done in nearly 20 yearsDecember 8, 2016
- Google Makes So Much Money, It Never Had to Worry About Financial Discipline—Until NowDecember 8, 2016
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