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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

U.S. ends TARP with $15.3 billion profitRead full story for latest details. [...]

Unilever lays an egg: Drops Just Mayo lawsuitUnilever takes its mayonnaise very seriously. But this time, the global food giant appears to have e [...]

It's time for disruptive tech firms to grow upRead full story for latest details. [...]

How to pick the best dividend stocksInvesting in dividend stocks can be a powerful and effective strategy to obtain superior returns ove [...]

Source: Hackers send new message to SonyThe hackers behind a devastating cyberattack at Sony Pictures have sent a new message to executives [...]

Friday LinksRead full story for latest details. [...]

All I want for Christmas: BoobsOn the first day of Christmas, my true love gave to me ... two breast implants, a tummy tuck and a r [...]

 

CNN Small Business News

Unilever lays an egg: Drops Just Mayo lawsuitUnilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Be [...]

Alternative lenders are hot -- especially among millennialsRead full story for latest details. [...]

Reddit cofounder: The next Google is one visa away from leaving U.S.Read full story for latest details. [...]

The heart of the Internet has been hackedICANN, the all-powerful but little-known organization that administers global website domain names, [...]

Oprah-approved startup raises $6.25 millionNews startup The Skimm announced a new round of funding, 1 million active readers, and plans to expa [...]

Cow farmers get high-tech tracking appBrazilian startup BovControl is turning cows into data with a mobile app. [...]

Google Ventures: less Ubers, more health careThe venture capital investment arm of the tech giant has quadrupled its funding of life sciences and [...]

 

CNN Money News

Payday lenders throw millions at powerful politicians to get their wayPayday lenders are spending millions of dollars in Washington in an attempt to get powerful politici [...]

Living your dream retirement? Tell us about itAre you living your dream retirement? If so, we want to hear how you were able to get there -- wheth [...]

Mortgage rates hit a new low for the yearAmid falling gas prices and investor nervousness, the average rate for a 30-year fixed-rate loan fel [...]

Alternative lenders are hot -- especially among millennialsRead full story for latest details. [...]

The 2014 tax breaks you'll be able to takeCongress waited until the last minute to decide what to do with a slew of expired tax breaks. They e [...]

Re-gifting is fine... if you follow these rulesEtiquette experts say re-gifting is generally considered acceptable, as long as you follow these rul [...]

Toyota has best value: Consumer ReportsRead full story for latest details. [...]

 

Fortune Magazine

Will Mmmhops be a hit?Hanson is attempting to chart with a new microbrew. [...]

NBA confirms L.A. Clippers sale to ex-Microsoft CEO Steve BallmerDonald Sterling sues the NBA for damages and demands to be reinstated as owner. [...]

FBI and SEC probe into Carl Icahn and golfer Phil MickelsonAuthorities are looking into the potenial insider trading. [...]

Google launches "right to be forgotten" service in EuropeNow European citizens can request to have search results removed. [...]

Zuckerberg's latest donation reawakens concerns over mixed results in NewarkFacebook founder and his wife donate $120 million to Bay Area schools, claim to have learned from pr [...]

Five crazy things Steve Ballmer has doneIn light of Ballmer placing the highest bid on an NBA team in history on Thursday, here are some of [...]

Four ways Apple could have the "best" product pipeline everFrom the obvious upgrades to the bold and daring. [...]

 

Reuters Business News

NEW YORK (Reuters) - U.S. stocks were little changed on Friday, after the Federal Reserve's mos [...]

WASHINGTON (Reuters) - U.S. authorities were expected to announce on Friday that investigators had d [...]

WASHINGTON (Reuters) - The United States closed out its last big investment taken on during a 2008 b [...]

TORONTO (Reuters) - BlackBerry Ltd on Friday reported a bigger-than-expected drop in third-quarter r [...]

(Reuters) - A U.S. judge has cleared the way for consumers to sue Target Corp over the retailer [...]

MOSCOW (Reuters) - Russia's lower house of parliament hastily approved a draft law on Friday th [...]

(Reuters) - The Federal Reserve is creating "unacceptable" downside risks to U.S. inflatio [...]

 

Reuters Economy News

NEW YORK (Reuters) - U.S. stocks were little changed on Friday, after the Federal Reserve's mos [...]

LONDON/NEW YORK (Reuters) - Equity markets worldwide extended the week's rally on Friday, and o [...]

NEW YORK (Reuters) - The U.S. dollar rose against major currencies for a third straight session on F [...]

NEW YORK (Reuters) - Bond giant Pacific Investment Management Co said on Friday that it expects the [...]

MOSCOW (Reuters) - Russia's ruble strengthened on Friday after Finance Minister Anton Siluanov [...]

 

Reuters Business Video

European stocks follow their US and Asian peers higher and higher as the traditional end-of-year [...]

All eyes may have been on the rouble this week, but Nigeria is suffering its own currency crisis. Th [...]

Ramin Nakisa, strategist-global asset allocation at UBS Investment Bank, says that global demand for [...]

Festive spirit grips EU leaders as they wrap up their summit a day early with key agreements on a ne [...]

Hackers, moviegoers react to Sony's decision to cancel the release of the movie "The Inter [...]

Japan will release several economic indicators and Bank of Japan Governor Kuroda gives a Christmas d [...]

The Bank of Japan closes 2014 with its last policy meeting without a change in policy, but pressures [...]

 
 

Post Tagged with: "Warren Buffett"

 
  • The Giving Pledge – WARREN BUFFETT

    The Giving Pledge – WARREN BUFFETT

    The Giving Pledge – WARREN BUFFETT       “Were we to use more than 1% of my claim checks (Berkshire Hathaway stock certificates) on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others.”  

     
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  • Bob Browne: A Lesson in Tax-Deferred Investing from Warren Buffett

    Bob Browne: A Lesson in Tax-Deferred Investing from Warren Buffett   As investors look to build wealth, they can learn both tax strategy and investment strategy lessons from Warren Buffett’s recent sale of Graham Holdings Company.  

     
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  • Buffett on technology replacing jobs

    Buffett on technology replacing jobs   Warren Buffett explains why he thinks it’s progress to have technology replacing human jobs, but acknowledges that people who are left behind need support. 

     
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  • The New EBITDA: Emotions Before Interest Taxes and Depreciation

    The New EBITDA: Emotions Before Interest Taxes and Depreciation

    The New EBITDA: Emotions Before Interest Taxes and Depreciation by Tom Deans, Ph.D.     Sitting in the departure lounge at LAX, I couldn’t help but overhear a conversation between an investment banker and his younger associate. I learned two things. First (and most business travelers can relate), it is amazing how cavalier people are about discussing confidential details in public places. The second confirmed something I had been thinking about family businesses for some time.   The older of the two bankers was whining about how he thought the slam-dunk deal they had just presented was now probably never going to happen. On and on he grumbled about the time he had spent running the numbers, lining up partners and generally bringing the deal to a crescendo, only to have the business owner change his mind about selling.   The investment banker was completely perplexed about why the offer, the numbers, the multiples that looked so good weren’t enough to entice the owner to do the deal of a lifetime.   It took everything I had to stop myself from leaping into the conversation and selling him a copy of Every Family’s Business (it wouldn’t have been the first time). But I exercised extraordinary restraint and settled back and listened to him talk about the clever structure of the deal, the tax that could have been saved and the instant wealth the owner would have secured if only he had been smart enough to take the deal.   Emotions are Squishy – Not the Stuff of Deal-Makers in Suits   The funny thing about listening in on a conversation is that the longer you listen the harder it is enter the conversation. So I bit my tongue and instead simply wondered how many other business brokers, M&A professionals and investment bankers expend such effort trying to bring deals to fruition only to have sellers back out. I wondered how an entire industry of intermediaries could so badly underestimate the emotional connection that owners have to their businesses, and also fail to understand how these emotions can scupper so much good work and extraordinary planning and lead the owner to ultimately destroy the business’s value.   When really bright finance experts hear the word “emotions” you can so often see their eyes roll back and the calculators shut off. Yet students of the greatest financiers of all time – deal-makers like Warren Buffett – know that these people get deals done by running the numbers and then engaging business owners in the one corner of their life where most number crunchers don’t go – their family. It is the rare rainmaker who has both the left and right brain firing on all cylinders.   Warren Buffett Buffett and other great deal-makers know that the sale of a business will typically result in a “liquidity event” that will leave owners with more wealth than they feel comfortable consuming. Most business owners accumulate wealth precisely by denying themselves consumption. Sellers will often kill deals, blaming a low bid price, […]

     
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  • Warren Buffett on Giving Away His Money and the Gates Foundation

    Warren Buffett on Giving Away His Money and the Gates Foundation

    Warren Buffett on Giving Away His Money and the Gates Foundation     The Giving Pledge is a campaign to encourage the wealthiest people in the world to make a commitment to give most of their wealth to philanthropic causes. The campaign specifically focuses on billionaires and was made public in 2010 by Warren Buffett and Bill Gates. The Huffington Post reported in April 2012 that “81 billionaires committed to giving at least half of their fortunes to charity”. As of April 2013, 105 billionaires have signed the pledge. The following are signatories to the Giving Pledge as of April 2013:[12] Bill Ackman and wife Karen Paul Allen John D. Arnold and wife Laura Manoj Bhargava[13] Steve Bing Nicolas Berggruen Sara Blakely[14] Arthur Blank Michael Bloomberg Richard Branson[15] and wife Joan Eli Broad and wife Edythe Charles Bronfman[13] Edgar M. Bronfman Warren Buffett Steve Case and wife Jean John Caudwell Leon G. Cooperman and wife Toby Joe Craft Joyce and Bill Cummings Ray Dalio and wife Barbara John Paul DeJoria John Doerr and wife Ann Doerr Barry Diller and Diane von Furstenberg Glenn Dubin and wife Eva Larry Ellison Chuck Feeney Andrew Forrest and wife Nicola Ted Forstmann Phillip Frost and wife Patricia Bill and Melinda Gates Dan Gilbert and wife Jennifer[13] David Green and wife Barbara Jeff Greene and wife Mei Sze Harold Hamm and wife Sue Ann Reed Hastings and wife Patty Quillin[13] Lyda Hill Barron Hilton Chris Hohn Jon Huntsman, Sr. and wife Karen Mo Ibrahim Carl Icahn Irwin M. Jacobs and wife Joan George Kaiser Vinod Khosla and wife Neeru Sidney Kimmel Richard Kinder and wife Nancy Kenneth Langone and wife Elaine H.F. Lenfest and wife Marguerite Peter B. Lewis[13] Lorry I. Lokey George Lucas Duncan MacMillan and wife Nancy Alfred E. Mann Joe Mansueto and wife Rika Bernie Marcus and wife Billi Red McCombs and wife Charline Michael Milken and wife Lori George P. Mitchell Tom Monaghan Gordon Moore and wife Betty[13] John Morgridge and wife Tashia Dustin Moskovitz and Cari Tuna Patrice Motsepe and wife Precious Elon Musk Jonathan M. Nelson[13] Pierre Omidyar and wife Pam Bernard Osher and wife Barbro Ronald Perelman Jorge M. Perez and wife Darlene[13] Peter George Peterson T. Boone Pickens Victor Pinchuk Hasso Plattner Vladimir Potanin Azim Premji[16] Julian Robertson David Rockefeller Edward W. and Deedie Potter Rose David M. Rubenstein David Sainsbury John Sall and wife Ginger Henry Samueli and wife Susan Herb and Marion Sandler Vicki and Roger Sant Denny Sanford Lynn Schusterman Walter Scott, Jr. Thomas Secunda and wife Cindy Harold Simmons and wife Annette Jim and Marilyn Simons Jeff Skoll John A. Sobrato, wife Susan and son John Michael Sobrato Patrick Soon-Shiong and wife Michele B. Chan Ted and Vada Stanley Tom Steyer and wife Kat Taylor James E. Stowers and wife Virginia Vincent Tan Claire and Leonard Tow[13] Ted Turner Albert Lee Ueltschi[13] Dr. Romesh Wadhwani and wife Kathleen[13] Sanford Weill and wife Joan Shelby White, widow of non-signatory Leon Levy Charles Zegar and […]

     
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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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Family Office Newswire

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The #1 Family Office Newswire That Empowers Family Dynasties. Over 6,500 Posts and growing rapidly with relevant topics!

Learn from Billionaires How To Handle Your Family Wealth.

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UHNW Wealth Newswire

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The #1 UHNW Wealth Newswire For Living Your Dreams. Over 3,500 Posts on important topics that show you the Secrets of Accumulating and Preserving Wealth!

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Family Business Newswire

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The #1 Family Business Newswire That Helps You Move From Success to Significance. Over 3,300 Posts On Key Factors To Build A Profitable and Sustainable Business!

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Philanthropy Newswire

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The #1 Philanthropist Newswire For Leaving A Legacy From The Heart. Check out the latest trends in philanthropy today with over 1,100 posts. Also. learn why some of the greatest philanthropists in history believe in gratitude and giving!

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Lugen Family Office Proudly Supports AIP

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The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.

Enzo Calamo,
AIP Ambassador, Past President

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Celebrity Net Worth

Tom Petters Net Worth: Tom Petters is an American businessman who has a net worth of $50 thousand. T [...]

Martin Cummins Net Worth: Martin Cummins is a Canadian actor who has a net worth of $500 thousand. M [...]

Buddy Nielsen Net Worth: Buddy Nielsen is an American singer and musician who has a net worth of $30 [...]

Donald Goines Net Worth: Donald Goines was an African-American writer who had a net worth of $500 th [...]

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Reuters Wealth News

NEW YORK (Reuters) - It sounds like the usual setup for a knock-knock joke: Who is the best-selling [...]

SHANGHAI (Reuters) - China on Friday set up its first insurance fund for its $2.1 trillion trust ind [...]

LOUISVILLE, Ky (Reuters) - Louisville, Kentucky officials on Thursday approved an increase to the ci [...]

SEATTLE (Reuters) - Washington state Governor Jay Inslee on Thursday proposed a new tax on capital g [...]

NEW YORK (Reuters) - Investors in U.S.-based funds pulled $831 million out of emerging market stock [...]

NEW YORK (Reuters) - Investors in U.S.-based funds pulled $831 million out of emerging market stock [...]

NEW YORK (Reuters) - John Clendening, the former co-head of Charles Schwab Corp's retail broker [...]

 

MarketWatch Personal Finance

The oil market, a sliding ruble and Sony Pictures led the news, writes Phil van Doorn. [...]

Travel gets more mobile and more personalized in the new year. [...]

A new bill would enable you to pay a surcharge until your estate is sold, writes Diana Furchtgott-Ro [...]

Saving $500 a year isn’t a concern for a wealthy owner of a $100,000 car, writes Tim Mullaney. [...]

Your home and auto insurance rates can be subject to events you may never have known occurred. [...]

The selloff in oil prices is causing sharp losses among Wall Street’s biggest names, like billionair [...]

Connoisseurs of brown spirits are paying heed to Japan. [...]

 

MarketWatch Top Stories

The U.S. stock market ended a turbulent week, which was punctuated with collapse of the ruble, gyrat [...]

In the frenzied, hash-tagging world of Twitter, it’s always good to have a few go-to tweeters, who h [...]

Heating oil is losing market share to natural gas, electricity and other sources. [...]

President Barack Obama criticized Sony Pictures Friday for pulling a movie out of theaters in respon [...]

The Federal Communications Commission proposed new regulations that would treat online video service [...]

When is price-checking often a waste of time, and when will it yield you real savings? [...]

The dollar trades at its highest level against the yen in a week Friday as the Bank of Japan reaffir [...]

 

MarketWatch Pulse

SAN FRANCISCO (MarketWatch) -- News Corp said Friday it had acquired BigDecisions.com in India for u [...]

NEW YORK (MarketWatch) -- Walgreen Co. said on Friday that it plans to withdraw its stock from listi [...]

WASHINGTON (MarketWatch) -- A Russian investment fund called the Marshall Capital Fund was among a g [...]

NEW YORK (MarketWatch) -- Staples Inc. provided on Friday an update to the findings of its investiga [...]

NEW YORK (MarketWatch) -- The U.S. stock market ended a turbulent week with the biggest weekly gain [...]

WASHINGTON (MarketWatch) -- In a statement, Philadelphia Fed President Charles Plosser explained why [...]

NEW YORK (MarketWatch) -- ImmunoGen's stock plunged to a more than four-year low in very-active [...]

 
 
 
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