now ceo of wealthfront. Numbers change if stem w-2's split for austin, kansas city,&c. As with NYC, SV is for the rich and those with hopes of being rich.
wealthfront
The other day we were modeling our typical client’s spending when we
realized something disturbing – an average Bay Area-based young couple
has to own equity in a business if they hope to send their kids to a
good university and be able to retire well.
Investing well alone can’t get you there.
Our analysis found you need to work for at least one company where
your equity stake can generate at least a few hundred thousand dollars
after tax to make your economics work in the Bay Area.
The problem is the hole that opens up in a typical couple’s budget
when they are in their late 30s. Three big pressures converge then: the
mortgage on your expensive Bay Area home, and the dueling needs to fund
your retirement and your kids’ college early so that you take advantage
of compounding.
That’s why we say: You need equity to live in Silicon Valley.
Wednesday, May 22, 2013
Multi-Family Office Biz: rev up. margins 22%. hiring
You can use less talent if you use simpler strategies. Like Buffett & Lynch say, the simpler the business the more they like it.
finplanning
At the median multi-family office, revenues grew by 13% from 2010 to 2011 and by 6% in 2012, according to FOX’s MFO and Wealth Advisor Benchmarking Study, released Wednesday. "Firms are experiencing really good growth, which we expect will continue,” said David Lincoln, managing director of research for FOX.
Profit margins were also better than expected, averaging around 22%, Lincoln added.
ONGOING PROBLEMS
But two perennial problems continue to haunt the industry: the high price and scarcity of top client-facing talent and escalating competition on the pricing front.
“The continued reliance on exceptionally talented, yet hard-to-find client-facing personnel makes improving productivity a paramount goal for most firms,” Lincoln said.
finplanning
At the median multi-family office, revenues grew by 13% from 2010 to 2011 and by 6% in 2012, according to FOX’s MFO and Wealth Advisor Benchmarking Study, released Wednesday. "Firms are experiencing really good growth, which we expect will continue,” said David Lincoln, managing director of research for FOX.
Profit margins were also better than expected, averaging around 22%, Lincoln added.
ONGOING PROBLEMS
But two perennial problems continue to haunt the industry: the high price and scarcity of top client-facing talent and escalating competition on the pricing front.
“The continued reliance on exceptionally talented, yet hard-to-find client-facing personnel makes improving productivity a paramount goal for most firms,” Lincoln said.
Bernanke: relevers households: operational leverage
Fed chart 4 below is deceptive, if you think about it.
Tuesday, May 21, 2013
France: 3m+ job by artisan inefficiency & glamour
consultfrance
With more than 3 million people practicing an artisan craft, the industry is the largest in France, guaranteeing the country’s high-quality national expertise. This field includes all artisans in France who, by definition practice a manual work and are self-employed, often aided by their families, friends or apprentices. Active in the food industry, construction, production and services, French artisans are men and women who preserve ancient techniques of production and pass those techniques on to future generations. ... Artisans are actually an important driving force in the French economy. Today there are 920,000 companies in the field, providing more than 100,000 jobs each year. ... found all over France—31 percent of artisan companies can be found in rural areas, 41 percent in urban areas with less than 200,000 people, and 28 percent in areas with more than 200,000 people.
nyt
elite group of professionals called the Meilleurs Ouvriers de France, or Best Craftsmen of France.
These artisans represent more than 200 professions throughout the country, including those devoted to food, like fromagers, chocolatiers and butchers; others that deal with the decorative, like hairdressers, florists and corset-makers; and even fields like Web design and taxidermy.
Each member of the group has passed a rigorous competition to obtain the lifelong title of Un des Meilleurs Ouvriers de France, which the Ministry of Labor awards to about 2 percent of applicants every three to four years. Created in 1924, the group has as its goal the recognition of exceptional French craftsmanship, and ensuring the survival of traditional know-how. Recipients become ambassadors of their métier, and must pledge to pass along their knowledge to members of the next generation. The group has about 4,000 members, about 200 of them based in Paris.
France startup: share wash machines for $ & germs
psfk
Hailing this time from France, La Machine du Voisin is a new site that aims to connect owners of washing machines with those who need one.
daily mail
NU: spinning memories to "totally false"
geekosystem
According to a recent study, just as you can’t step in the same river twice, your memories are changed by the act of recalling them, meaning that every memory we have is colored by the times we’ve recollected it before.The research, conducted by Northwestern Medicine and published this week in the Journal of Neuroscience, shows that recalling a memory more often makes that memory less accurate, and that every time you take a memory off the shelf in your brain, you put it back just a tiny bit different.
That’s because instead of remembering the actual memory, you’re recalling the memory of the last time you remembered it and any mistakes that might have been introduced there. Like a game of human telephone, those mistakes can build on one another over time, leaving out details and introducing mistakes.
“A memory is not simply an image produced by time traveling back to the original event—it can be an image that is somewhat distorted because of the prior times you remembered it,” said lead researcher Donna Bridge, who went on to just depress the hell out of anyone who has even a single thing they’d like to genuinely hold onto in this life. “Your memory of an event can grow less precise even to the point of being totally false with each retrieval.”
RBranson: $ in disrupting markets
Careful with his suggestion that youngsters with no skills, contacts, &c try to start businesses.
We always enter markets where the leaders are not doing a great job, so we can go in and disrupt them by offering better quality services.
focus our attention on markets where we could be the disruptor, not the disrupted.
entrepreneur
Which is not to suggest that Branson has always played it safe--or that he has always come up a winner. Not all Virgin efforts have disrupted their target markets: Virgin Cola failed to quench consumers' thirst for Coca-Cola and Pepsi, for example, and apparel brand Virgin Ware quickly fell out of fashion. Critics also question Branson's daredevil proclivities, like his attempts to circumnavigate the globe via balloon or his record-setting English Channel crossing in an amphibious vehicle.
We always enter markets where the leaders are not doing a great job, so we can go in and disrupt them by offering better quality services.
focus our attention on markets where we could be the disruptor, not the disrupted.
entrepreneur
Which is not to suggest that Branson has always played it safe--or that he has always come up a winner. Not all Virgin efforts have disrupted their target markets: Virgin Cola failed to quench consumers' thirst for Coca-Cola and Pepsi, for example, and apparel brand Virgin Ware quickly fell out of fashion. Critics also question Branson's daredevil proclivities, like his attempts to circumnavigate the globe via balloon or his record-setting English Channel crossing in an amphibious vehicle.
Subscribe to:
Posts (Atom)