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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them

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“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

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Center for Family Conversations

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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.

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THE TYCOON PLAYBOOK – How Business Empires Are Built

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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.

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CNN Financial News

'Finding Your Roots' scandal is 'teachable moment,' PBS president saysThe future of "Finding Your Roots" is still up in the air, PBS president Paula Kerger said [...]

Zuckerberg 'miscarriage' story prompts outpouring of emotionsRead full story for latest details. [...]

Uber is the most valuable startup in the worldUber is now the most valuable startup in the world. [...]

Exxon and Chevron profits are down over 50%Drilling for oil used to be one of the most profitable businesses in the world. Not anymore. [...]

How to make Chrome your default Windows 10 browserRead full story for latest details. [...]

Tom Cruise's impossible mission: $100 million openingRead full story for latest details. [...]

Facebook founder Mark Zuckerberg and his wife are expecting a babyRead full story for latest details. [...]

 

CNN Small Business News

New York minimum wage increase: Who really paysFast-food chains that operate in more than 30 locations nationwide are the sole target of a new rule [...]

Lion killer's dental practice target of outrageRead full story for latest details. [...]

Franchises affected by New York's new $15 minimum wageMcDonald's. Dunkin' Donuts. Burgerfi. Zoup! A new minimum wage requirement targeting the f [...]

How stoned are you? This app has the answerRead full story for latest details. [...]

NASA's robot R2 needs your helpRead full story for latest details. [...]

Watch the pot ad that got yanked off TVRead full story for latest details. [...]

Iconic bar Hogs & Heifers closing its doorsNew York bar is the latest victim to city's skyrocketing rent. [...]

 

CNN Money News

Millennials have jobs, but still live with mom and dadRead full story for latest details. [...]

Is it OK to quit your job without another in hand?Read full story for latest details. [...]

Toshiba's interim CEO to take 90% pay cutToshiba's interim chief executive Masashi Muromachi will take a 90% pay cut for the next two mo [...]

A smarter investing strategy for retirementDon't try to guess when stocks will crash. Instead, create a mix of stocks and bonds that suits [...]

It takes 16 months to pay off credit card balance in this cityThree Texas cities -- San Antonio, Dallas and Houston -- are among the top five in the country where [...]

Disneyland Paris under investigation over wonky pricingRead full story for latest details. [...]

 

Fortune Magazine

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Reuters Business News

ATHENS (Reuters) - Greece may seek 24 billion euros in a first tranche of bailout aid from internati [...]

LAHAINA, Hawaii (Reuters) - Pacific Rim trade ministers failed to clinch a deal on Friday to free up [...]

(Reuters) - Puerto Rico will miss a payment on debt due Aug. 1, the governor's chief of staff s [...]

(Reuters) - Weak oil prices shriveled quarterly profit at Exxon Mobil Corp and Chevron Corp on Frida [...]

(Reuters) - Wall Street ended on a sour note on Friday as a drop in energy stocks eclipsed wage data [...]

(Reuters) - Goldman Sachs Group Inc has tentatively agreed to pay about $270 million to settle a law [...]

(Reuters) - Yahoo Inc said on Friday it agreed to buy fashion start-up Polyvore to help drive traffi [...]

 

Reuters Economy News

CARACAS (Reuters) - Venezuela confirmed on Tuesday it had entered a recession while inflation remain [...]

WASHINGTON (Reuters) - The Obama administration on Tuesday bowed to months of growing pressure over [...]

NEW YORK (Reuters) - Investors backed away from global equity markets on Tuesday, with light volume [...]

NEW YORK (Reuters) - U.S. stocks fell on Tuesday as investors engaged in profit-taking to pull major [...]

NEW YORK (Reuters) - Crude futures closed up slightly Tuesday, getting some relief from a weak dolla [...]

NEW YORK (Reuters) - The U.S. dollar hit a 1-1/2-week low against the safe-haven yen on Tuesday afte [...]

BUENOS AIRES (Reuters) - Crunch time for Argentina fixing its debt default will almost certainly not [...]

 
 

Post Tagged with: "Berkshire Hathaway"

 
  • Buffett boosts Berkshire Hathaway’s IBM stake by $400 million

    Buffett boosts Berkshire Hathaway’s IBM stake by $400 million

    In the first quarter, Berkshire Hathaway added nearly 2.6 million shares of the computer giant.

     
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  • Warren Buffett & Bill Gates on Measuring Performance – Lugen Family Office

    Warren Buffett & Bill Gates on Measuring Performance – Lugen Family Office

    Warren Buffett & Bill Gates on Measuring Performance, Wealth, Billionaires, Financial Crisis   Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. It can involve studying processes/strategies within organizations, or studying engineering processes/parameters/phenomena, to see whether output are in line with what was intended or should have been achieved.   Performance measurement has been defined by Neely[1] as “the process of quantifying the efficiency and effectiveness of past actions”, while Moullin[2] defines it as “the process of evaluating how well organisations are managed and the value they deliver for customers and other stakeholders”. Discussion on the relative merits of these definitions appeared in several articles in the newsletter of the Performance Management Association.[3]   Wikipedia – Performance Measurement   The wealth effect is an economic term, referring to an increase (decrease) in spending that accompanies an increase (decrease) in perceived wealth.   The effect would cause changes in the amounts and distribution of consumer consumption caused by changes in consumer wealth. People should spend more when one of two things is true: when people actually are richer, objectively, or when people perceive themselves to be richer—for example, the assessed value of their home increases, or a stock they own goes up in price.   Demand for some goods (especially Inferior goods) typically decreases with increasing wealth. For example, consider consumption of cheap fast food versus steak. As someone becomes wealthier, their demand for cheap fast food is likely to decrease, and their demand for more expensive steak may increase.   Consumption may be tied to relative wealth. Particularly when supply is highly inelastic – or in the case of monopoly – one’s ability to purchase a good may be highly related to one’s relative wealth in the economy. Consider for example the cost of real estate in a city with high average wealth (for example New York or London), in comparison to a city with a low average wealth. Supply is fairly inelastic, so if a helicopter drop (or gold rush) were to suddenly create large amounts of wealth in the low wealth city, those who did not receive this new wealth would rapidly find themselves crowded out of such markets, and materially worse off in terms of their ability to consume/purchase real estate (despite having participated in a weak Pareto improvement). In such situations, one cannot dismiss the relative effect of wealth on demand and supply, and cannot assume that these are static. (see also General equilibrium).   However, according to David Backus, an NYU economist, the wealth effect is not observable in economic data, at least in regards to increases or decreases in home or stock equity.[2] For example, while the stock market boom in the late 1990s (q.v. dot-com bubble) increased the wealth of Americans, it did not produce a significant change in consumption, and after the crash, consumption did not decrease.[2]   Economist Dean Baker disagrees and says that “housing wealth effect” is […]

     
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  • Buffett Grandson: Our Plans to Change the World

    Buffett Grandson: Our Plans to Change the World   Sept. 17, 2013 (Bloomberg) — Howard W. Buffett, executive director of the Howard G. Buffett Foundation, talks about his public management class at Columbia University and new book “40 Chances: Finding Hope in a Hungry World.” Buffett is the son of Berkshire Hathaway Inc. Director Howard Buffett and grandson of Chairman Warren Buffett. He speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)  

     
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  • Three Generations of Buffett: We’re the Lucky Ones

    Three Generations of Buffett: We’re the Lucky Ones   Oct. 23, 2013 (Bloomberg) — Together on set for a Bloomberg First, CEO of Berkshire Hathaway Warren Buffett, his son Howard Buffett and grandson Howard W. Buffett join Bloomberg’s Betty Liu to discuss philanthropy, their plans for Berkshire Hathaway, and their new book “40 Chances.” They speak on Bloomberg Television’s “In The Loop.”  

     
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  • How to Stay Out of Debt: Warren Buffett – Financial Future of American Youth (1999)

    How to Stay Out of Debt: Warren Buffett – Financial Future of American Youth (1999) Buffett became a billionaire on paper when Berkshire Hathaway began selling class A shares on May 29, 1990, when the market closed at $7,175 a share. In 1998, in an unusual move, he acquired General Re (Gen Re) for stock. In 2002, Buffett became involved with Maurice R. Greenberg at AIG, with General Re providing reinsurance. On March 15, 2005, AIG’s board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, former attorney general of the state of New York. On February 9, 2006, AIG and the New York State Attorney General’s office agreed to a settlement in which AIG would pay a fine of $1.6 billion. In 2010, the federal government settled with Berkshire Hathaway for $92 million in return for the firm avoiding prosecution in an AIG fraud scheme, and undergoing ‘corporate governance concessions’. In 2002, Buffett entered in $11 billion worth of forward contracts to deliver U.S. dollars against other currencies. By April 2006, his total gain on these contracts was over $2 billion. In 2006, Buffett announced in June that he gradually would give away 85% of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006. The largest contribution would go to the Bill and Melinda Gates Foundation.[37] In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business.[38] Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett. Buffett ran into criticism[39] during the subprime crisis of 2007–2008, part of the late 2000s recession, that he had allocated capital too early resulting in suboptimal deals. “Buy American. I am.” he wrote for an opinion piece published in the New York Times in 2008.[40] Buffett has called the 2007–present downturn in the financial sector “poetic justice”.[41] Buffett’s Berkshire Hathaway suffered a 77% drop in earnings during Q3 2008 and several of his recent deals appear to be running into large mark-to-market losses.[42] Berkshire Hathaway acquired 10% perpetual preferred stock of Goldman Sachs.[43] Some of Buffett’s Index put options (European exercise at expiry only) that he wrote (sold) are currently running around $6.73 billion mark-to-market losses.[44] The scale of the potential loss prompted the SEC to demand that Berkshire produce, “a more robust disclosure” of factors used to value the contracts.[44] Buffett also helped Dow Chemical pay for its $18.8 billion takeover of Rohm & Haas. He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided $3 billion, underlining his instrumental role during the current crisis in debt and equity markets.[45] In 2008, Buffett became the richest man in the world, with a total net worth estimated at $62 billion[46] by Forbes and at $58 billion[47] by Yahoo, dethroning Bill Gates, […]

     
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  • Berkshire Hathaway, 3G Capital to buy Heinz for $23bln

    Berkshire Hathaway, 3G Capital to buy Heinz for $23bln Feb 14, 2013 – Warren Buffett‘s Berkshire Hathaway and 3G Capital will buy H.J. Heinz for $72.50 a share, or $23.2 billion in cash but totaling $28 billion including debt.  

     
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  • Warren Buffet’s Thoughts on Wall Street Compensation and Value to Society

    Warren Buffet‘s Thoughts on Wall Street Compensation and Value to Society Warren Buffet’s thoughts on Wall Street compensation and value to society. The Charlie Rose Show. November 26, 2012.  

     
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  • Charlie Rose – Carol Loomis on Warren Buffett (11/26/12)

    Charlie Rose – Carol Loomis on Warren Buffett (11/26/12)  

     
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  • You’d Love a Private Jet, But Should You Own One?

     
  • 5 Reasons Why Most Don’t Become Wealthy

     
  • Warren Buffett wants his MTV

     
  • Why Buffett is giving away his money

     
  • Warren Buffett – Absurd CEO Salaries

     
  • Bill Gates talking about Warren Buffett

     
  • Warren Buffett – How Should a CEO Be Compensated?

     
  • Warren Buffett’s 10 Ways to Get Rich

     
  • Recommended Reading: Life Is What You Make It: Find Your Own Path to Fulfillment By Peter Buffett

     
 
 
 

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Reuters Wealth News

BOSTON (Reuters) - Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in J [...]

BOSTON (Reuters) - Billionaire hedge fund manager John Paulson, one of the world's most influen [...]

(Reuters) - State public pension funds love buying shares in local companies, but it is not so much [...]

(Reuters) - The founders of Vermillion Asset Management have left the firm after an exodus of invest [...]

NEW YORK (Reuters) - Investors worldwide pulled $1.2 billion out of precious metals funds in the wee [...]

(Reuters) - Many wealthy people struggle to talk to their children about how much money they have. W [...]

(Reuters) - U.S. fund managers raised bond exposure in their model global portfolios and cut their r [...]

LONDON (Reuters) - U.S. equities' share in global portfolios fell to the lowest in at least fiv [...]

NEW YORK (Reuters) - Risk aversion was on display this week as investors pulled billions of dollars [...]

(Reuters) - Two southern Californians were criminally charged over their alleged roles in a conspira [...]

 

MarketWatch Personal Finance

People who post selfies on social networks are more likely to exhibit what some psychologists call “ [...]

Retirement is more likely to improve your overall satisfaction and health, according to a working pa [...]

It’s a familiar and growing — though little-talked about — problem, as more women (and a growing num [...]

Baby sitter pay jumped 28% in the past five years. [...]

Financial advisers talk about the biggest retirement-planning mistakes Gen X and Gen Y are making an [...]

When a manicure resembles ‘Sweeney Todd,’ should you leave a tip? [...]

Americans appear reluctant to take time off without pay when they are starting a family. [...]

 
 
 
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