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Showing posts from September, 2018

Leaks

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The litany of departing White House officials and their tell - all books made me ask why do people leak secrets?This week we will examine that question and see that it is not just politicians who leak.The term is different in the private and business domain but it still packs an emotional punch.

Friends and Family
I vividly remember the first lie I told my parents.I was terrified that they would find out, but as time passed my anxiety declined.Eventually my parents caught me and lectured me on telling the truth and I would nod and say I’m sorry. Lesson learned – lie/leak and just apologize.Life goes on.

Secrets
Secrets are a euphemism for little white lies.We kid ourselves that broken secrets are not as bad as lies.I would ask the people that trusted us with their secrets if they agree.Listen to how people rationalize telling secrets.They usually start their statement with don’t tell anyone but XYZ person told me they did X.Gossip/white lies feel good for the gossiper but they hurt the…

Memories

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We love to read chronologies about traumatic events.This last week was overloaded with two such events – 9/11 and the closure of Lehman Brothers, both traumatic events that we continue to revisit.This blog will examine the power of traumatic events and how they can be like a light to moths.Don’t misunderstand me, we need to continue to remember like  Cats and Barbara so we won’t forget and repeat past mistakes.

Tragedy
Tragedy has a stronger lasting impact than success.We need to be aware of this reality and do our best to remember our successes and try to learn from our failures.Unfortunately businesses promote success and fire failures.This reality causes us to promote the top salesperson into a management position so they can teach strategies that are out dated and ineffective in today’s environment.Clients and shareholders should demand proof of recent success rather than listening to the tireless story about how the professional navigated the Financial Crisis.Ms. Garzarelli and y…

Woke

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There is a risk when a 56 year old writer attempts to use Digital Native terms.My Millennial children laugh at me when I overuse LOL and FOMO.Laugh if you must but my feeling after listening to a recent call by Morgan Creek Capital Management on Crypto Capitalism was I’m Woke.This blog will summarize other groups that should be Woke.

Banks
Banks hold most of our Fiat currency.  We pay them a significant amount of fees for this mundane service.Why do we continue to pay these exorbitant rents? Is it inertia or are we just not aware of better alternatives?My opinion is that we aren’t aware of a better alternative.Banks are acquiring brokerage firms for their deposits that continue to grow after the advent of the CMA.Deposits are king, but how much rent should we pay for this service? Banks need to wake up.
Wealth Management
Independent wealth management firms have thrived over the last five years by eliminating the banks’ rent on client accounts.Crypo currency’s inclusion in a portfolio c…