CHATS: Unlocking Family Wealth: Strategies, Allocation, and Risk

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On this CHATS segment of the "Financial Perspectives" podcast, we delve into secrets behind sustaining family wealth with Victor Haghani, author of "The Missing Billionaires." During this previously recorded webinar discussion, we unravel why many Gilded Age millionaires failed to see their fortunes grow into billions, despite a century of favorable investment conditions. Through personal stories, including his own family's lost wealth, we explore the pitfalls that can lead to the dissipation of fortunes and highlight essential strategies for preserving wealth across generations. Prepare to rethink the way you view strategic financial planning and the lessons history can teach us about investments.

Join us as we tackle the complex world of asset allocation and market volatility, with a special focus on concentrated stock positions, like those in Tesla. Understand the balance between risk and return through practical applications of the Merton share formula and the Kelly criterion. We'll guide you through the nuances of managing a portfolio that reflects your risk tolerance and market conditions, offering valuable insights into strategic portfolio management. It's an episode packed with actionable advice for investors aiming to navigate uncertain markets effectively.

Tax efficiency and alternative investments are hot topics in wealth management, and we shed light on these often-misunderstood areas. Discover how tax regimes influence asset allocation for taxable versus tax-exempt investors, and what role diversification plays in managing risk. We question the real value of alternative investments such as private equity and hedge funds, while emphasizing the importance of moving from concentrated positions to diversified portfolios. Victor and James White's new book serves as a cornerstone in our exploration of risk management, offering guidance on achieving financial independence with confidence.




CHATS is a monthly segment, featuring audio recordings from our previous webinars. This month's episode was originally recorded in December 2023.

If you'd like to learn more about the show, have a topic or speaker to suggest, or would like to leave us a comment, email [e-mail].


This podcast is produced by CFA Society San Francisco, a not-for-profit professional association, providing professional learning and career resources to over 13,000 investment industry professionals worldwide. To learn more about CFA Society San Francisco, visit our website or connect with us on LinkedIn.

The information contained in this podcast does not constitute financial or investment advice. Please consult your own financial advisor for information concerning your specific situation.