‘ Family Wisdom ’ Category

Oftentimes, to the unsuspecting, I declare my UC Berkeley education very CONSERVATIVE. For conservatism connotes holding fast to current conventional wisdom. A Liberal education’s definition is based upon exploration of why things either works or is defective. Read Mr. Berkowitz’s article as it points out how the lack of primary education about The Federalist Papers education has lead to choices of life paths arriving in this period of malaise.

The Federalist Papers’s Legacy

Federalist Papers Website

The precise expression of what you mean is an important piece for relationships. James Grant defines DEFLATION’s falling prices compared with technologically induced price declines. Until today I was unappreciative of this nuance and it’s influence in decision making. Tax rates promote technology’s efficiency; liquidation of over supply the other to reallocate resources more effectively in the economy.

Notable & Quotable — Deflation

Al Beimfohr was welcomed Home yesterday. He was a friend, mentor and one of the best investors. He founded Canterbury Capital, Knightsbridge Asset Management and supported my founding principles at FUTR. He was a believer in good stewardship practices, a supporter of ideas that could make a difference and delivering value in his clients’ portfolio. Al and John Prichard managed my special situation allocation since 1999 or 2000. I will miss Al Beimfohr but enjoy his legacy in John Prichard and at Knightsbridge. May I be fortunate to met you again at Home, my friend.

Peter Wood’s Notable & Quotable piece in today’s Wall Street Journal is spot on for it delivers great pictures of what you want to learn or happen. It is especially helpful in the discovery of your legacy, investment time horizon and your family’s secret for success.

Who, what, when, where, why and how are great tools for family kitchen table historical discovery. I like “how” best supported by “who”, “when”, “what” and “why”.

How will this be used today? In a Valued Art Project! Enjoy!

The Art of a Question Well Asked

Life becomes very affordable after winning the Lottery or so you would think. The winners inherit wealth beyond their dreams from all of us participants. After a little while drinking in the features and benefits of their new wealth, they arrive at an edge of the cliff of the life they have known. They want to get to the other side without the benefit of a Mentor or Steward because their lives did not require this help living day to day. Inheritances can cause a similar situation when the first generation leaves wealth without Legacy and it’s educational process. May these Lottery winners learn to be good stewards and have a solid Mentor arrive in their lives.

Lottery’s Inherited Wealth

A real current event . . . House Passed Ryan Budget! Good news for families who believe their time is PRIVATE PROPERTY. Hope is created with Ryan Budget for future generations and the US Public Debt. Improves outlook for Business & Investing . . . more news in June on how to treat ObamaCare budget resources (as savings???)

Hope this was helpful to your family’s decision making and planning.
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Every investment decision, every wealth protection policy & every human capital development comes into 20-20 clarity in the rear view mirror. We become geniuses because all the risks cannot be properly assessed unseen & forgotten in the mirror. The reason for this anomaly is in the mirror: right is left & left is right. Follow the link below to spend 2 minutes listening to Paul Harvey’s April 3, 1965 Commentary. “It cannot happen in America or in my Family” is a hackneyed phrase, full of bravado’s conceits. Follow the link, listen to Mr. Harvey, discover why family stories, vision and core values are important to a family’s legacy.
Paul Harvey April 3 1965

The Tompkins family selected their corporate trustee in the hopes it would support the family’s legacy fulfillment. One important relationship was a Private Banking capability and its social recognition of competent financial and investment decision making. Unfortunately, after more than 50 years, the relationship went awry when the Chevy Chase Bank was sold to CapitalOne and now the parties are at logger heads. The Chevy Chase Trust enjoys defending itself with trust assets while the family members contest using their private funds.

“The 10 Tompkins grandchildren want to fire the trust company because they are unhappy with the financial performance of their inheritance, which yielded an annualized rate of return on investment of less than 2% over the past six years, according to lawsuit. Three other grandchildren aren’t part of the lawsuit, nor are the other generations who are beneficiaries of the trust, though the suit contends that “most of the remaining beneficiaries of the trusts also have no confidence” in Chevy Chase’s performance as trustee.” Follow the link below to read the full Wall Street Journal story.

Core values matter in the management of family business operations and investment. There are taboo topics, such as money – untimely death, especially our own — sex and religion. All matter because these topics generally describe how we choose to live. Core Values are the guideposts that keep us on the path and not hurtling off the cliff. Follow the link to a Wall Street Journal OpEd on Paul Ryan’s budget proposal — it is replete with taboo topics; however, the values regarding prudence, good stewardship and protecting one another’s interests will prevent our legacy becoming the headline, “Thelma & Louise Drive Off Cliff in Wild Adventure”. Ryan’s Budget

This link is to Dr. Jeffrey A. Singer’s description of anticipated medical practices that discourages independent thinking and the use of intuitive knowledge that were the hallmarks of the Hippocratic Oath/Ethic which has produced our current experience of the practice of good medicine stewardship.