Back in 1998, Michael Sonnenfeldt of New York made tens of millions of dollars when he sold his real-estate firm, Emmes & Co. He had to quickly get up to speed on how to be a successful portfolio manager, rather than a builder of buildings.
A lot of people treat giving as a spontaneous event: the canvasser shows up at the door, we see the donation bucket in front of the grocery store, we hear news of some disaster on TV, and we’re moved to give.
TORONTO (Dow Jones)--It’s one thing to follow the money, but another to follow the moneyed. For those who are curious, the members of Tiger 21, an exclusive group of North American investors with at least $10 million in liquid assets, have been investing more in real estate and private equity.
Every quarter Tiger 21 surveys its 185 U.S. and Canadian members about the composition of their portfolios. It’s a small sample, but the data can give you a good idea of where high-net-worth investors are currently putting their money.
The economy is on the verge of another wave of venture capital investment, according to a report from several private equity investment executives who attended the recent annual conference for high-net-worth investors.
Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.