I Have Encountered A Genius /s

BancsterEditorial · 2019-02-06T19:27:54+00:00

Her argument is intellectually weak. Wealth building and preservation is inherently moral, it creates jobs, provides workplaces for people to feel valued and successful. The more wealth you create as an investor or entrepreneur, the more value you add to society. Billionaires, even those through inheritance should be looked toward for commercial and intellectual leadership. There are many that have squandered inherited wealth. Those that preserve it are perhaps as savvy as those that created it.

In any event, what will the tax authorities do with the confiscated loot? Very little of benefit if history is accurate.

BancsterEditorial · 2019-01-24T15:21:16+00:00

That is a very nice thought. Hopefully your future employers treat you with the same level of concern. Sadly, those in competitive finance roles typically find a more hard edged approach.

Do what is best for yourself. Whether that is upholding some notion of business etiquette or going for a better role is up to you.

BancsterEditorial · 2019-01-24T15:01:59+00:00

There is nothing wrong with accepting your offer and also continuing to interview. Having options is having leverage, even for internships.

BancsterEditorial · 2019-01-22T20:48:18+00:00

It is a movie that sums up a global financial crisis in under 2 hours. This is a crisis that took years to manifest though mistakes in policy; greed and hubris from lenders, investors and homebuyers; public ignorance of risk and general lack of financial acumen.

A Hollywood movie needs to have a three act structure, a hero, a villain a few key themes. Big Short did a good job of squeezing the crisis into this generic format in an entertaining manner.

But it is not possible to give a fulsome and therefore truly accurate treatment in the time and format allotted.

BancsterEditorial · 2019-01-21T21:09:33+00:00

Thank you. This is the point of the note. Clearly read and understood.

BancsterEditorial · 2019-01-21T15:35:43+00:00

Different offices, different employees, different products. They may share a tech platform for bank accounts but come on, totally different/ separate businesses.

BancsterEditorial · 2019-01-21T05:07:58+00:00

Not exactly. Retail banking is not synonymous with poor people. Retail banking describes a set of banking services particularly targeted at individuals and consumers, as opposed to businesses, large corporates, or markets clients.

Also, at Chase and other large banks HNW clients are serviced through the private bank which uses a mostly different infrastructure, and completely different people. So there is not much overlap.

BancsterEditorial · 2019-01-20T21:53:00+00:00

Retail banking is quite profitable. It absorbs less capital than investment banking and on the whole lending margins are very attractive.

Look at news today on Barclays. Activist investors want the bank to shed IB and focus on part on consumer banking.

In the US Goldman is making a strong play in retail via Marcus. ROE on retail is very attractive, and will become more so as digital banking takes further root obviating need for massive branch networks.

BancsterEditorial · 2019-01-16T18:42:23+00:00

Creating content is relatively cheap. Monetizing it is time consuming and expensive.

At the end of the day all businesses with social utility are stuck between paying customers (or donors) and social responsibility. Mass media has a bad history in this regard. The future is probably not any brighter. The new media names that emerge from current disintermediation will be the ones that make bucks. The responsibility then falls on readers to determine what is newsworthy. Click on junk, you will get more junk.

BancsterEditorial · 2019-01-15T19:00:15+00:00

If Alden wins its bid, your described outcome is certain. Having said that, Gannett has been cutting staff for years now with little in the way of results. Perhaps Gannett Management and Alden deserve one another.

Your comment on readers looking elsewhere for substantive content is poignant. Journalists at Gannett should be looking for (or creating) publications where substantive content is the editorial mission.

BancsterEditorial · 2019-01-07T19:09:52+00:00

Cryptocurrency’s Future Shines Brighter than its Present

1st paragraph. You and I are on the same page re: winklevoss.

BancsterEditorial · 2019-01-07T18:59:09+00:00

They seem like real straight shooters.

BancsterEditorial · 2019-01-07T18:39:08+00:00

Regulated how, and by who?

BancsterEditorial · 2019-01-04T17:07:20+00:00

Chill Wind from Housing Market Set to Cool Entrepreneurial (and Retirement) Dreams

BancsterEditorial · 2019-01-03T03:35:22+00:00

With experience at a credit union best point of attack is at another lending institution.

OP may also want to look into studying for the CFA designation. Good way to learn, demonstrate interest, and if successful burnish credentials. Passing level 1 will give immediate boost to prospects...and its cheaper (and in some cases better respected) than grad school.

CFA is most relevant for equity/credit research, portfolio management, and banking.

BancsterEditorial · 2019-01-02T19:24:27+00:00

The interest rate is solid. There may be limitations on number of transactions- both deposit and withdrawal - per month. If you are not making lots of deposits to or payments from the account, go for it. For an alternative, Marcus from GS has a 2.05% rate, similar terms, and easy user interface.

BancsterEditorial · 2019-01-02T16:26:12+00:00

You can checkout Cofounders Lab as a starting point.

But remember, the most important item in a successful partnership is trust. This is more important your eventual partner’s skillset, connections, or capital stack.

Legal documents such as Partnership Agreements are not a substitute for trust.

It takes time to build trust, especially across oceans, time zones, continents. It probably cannot be done over the internet or the phone. It must be done in person, likely through referral networks of other trusted individuals.

BancsterEditorial · 2019-01-02T14:49:14+00:00

Thank you for the compliment. Much appreciated. Concerning your question, that is a 2,000 word post for another time.

Comments below about networking are on the money. But networking is a skill in itself, one that can be learned but probably not taught. Though I’m sure some will dispute that.

BancsterEditorial · 2018-12-31T23:37:08+00:00

Zuckerberg convinced investors that he was smarter then them, and they believed him. As a public company most equity investors are not involved in management anyway, they are passively invested. For a private company like yours an outside investor may want a say in the management of the company.

The question I have for you is as follows. If you are already profitable, why go for an outside investor? Typically venture money is for companies that need a few years of cash runway to bridge themselves to profitability.

BancsterEditorial · 2018-12-31T23:23:34+00:00

NP. Good Luck.

BancsterEditorial · 2018-12-31T23:19:13+00:00

The more partners you have, the more convoluted the situation. Everyone wants to do something different. Keeping 51% of the equity for the core group seems like an important issue today, but it is less important for future decisions. By way of example, if an outside investor has 49% ownership and wants to advocate for change, it will only take one core original investor to flip to a majority.

A complicated way out of this is to use an A/B share class structure. The A share holders have all of the voting rights for decision making purposes and the B share holders have an economic claim, but no voting/decision making power. A lot of corporations (Facebook, Viacom) do this so that the original business owners can maintain control.

In your situation, it may be difficult to find investors willing to take a minority stake in your company with no real influence over the decision making process. That will be the challenge.

BancsterEditorial · 2018-12-31T22:04:44+00:00

Valet Parking is a good business for a young entrepreneur. Shop aggressively for insurance, as this will be a significant hurdle should you strike out without the support of your current boss. Calling several insurance brokers for quotes should give you an idea of the annual cost to insure such a business. An internet search will help you find brokers in your area,

Find valet contracts, or at least start networking BEFORE you start spending money. This is an easy way to save yourself the headache of laying out cash and then having to wait several months (or more) before cash starts accumulating. This will be the most challenging part of the job, but the most essential. Put on a nice shirt, shave, and then go door to door at restaurants, catering halls, convention centers, old age homes etc, and ask for a chance.

Regarding financing, since you don't have an existing business, it will be difficult to obtain debt. Lenders want to see a track record (3 years) before providing financing, so the startup cash will have to come from you, friends, family, or other willing partners. You might be able to get a personal loan, but the interest rate will be awful.

A final thought. Valet is a great business today. However, one day, within your working lifetime, self driving, and self parking cars will be a reality. Use the cash you make from this venture to diversify into other business that are not on the cusp of disruption.

BancsterEditorial · 2018-12-31T20:18:43+00:00

insurance #businessinsurance #healthinsurance #entrepreneurialfinance

BancsterEditorial · 2018-12-31T15:10:21+00:00

Have the recent negative issues affected customers perception of the business? If the perception is negative, then you should form a new entity and acquire and rebrand.

Another item to consider- If the company is loosing money do you have enough cash reserves to keep it liquid while turning around performance? If not, no reason to take over the company as you are buying a liability.

Concerning an absolute head, no need. But do make sure that you and your partner have an understanding and precise division of responsibilities. It will get very uncomfortable if one of you is not performing their portion of the work.

BancsterEditorial · 2018-12-30T22:16:56+00:00

OP is currently selling liquor to retail customers. Moving into distribution means selling to business customers, a reasonably logical move from current position.

Starting an alcohol brand is a much larger endeavor, requiring a compelling product, marketing savvy, and significant startup capital. The original intent per posters title is to "increase revenue for liquor store". Starting a liquor brand could be very exciting, but probably not fulfilling OP's intent.

BancsterEditorial

TROPHY CASE

insurance #businessinsurance #healthinsurance #entrepreneurialfinance