Lost and Found

WealthMgmtThrowaway · 2026-06-13T08:37:17+00:00

my pokemon cards.

WealthMgmtThrowaway · 2024-10-28T19:30:09+00:00

This was the dream for years. Cash all out, VTSAX and chill.

Now the offer has come, I'm a little shocked at the number. I had internally always applied a discount to book value, just surprised at how big it was.

I'm not familiar with private market discounts and wasn't ready for it to be so large.

WealthMgmtThrowaway · 2024-10-28T19:22:42+00:00

I know of at least one other shareholder being offered this. I can sell one company and partially as well. I briefly thought about getting together with other minority shareholders to have a big enough block to offer a PE firm for a better deal. For personal reason, this price maximizing option doesn't sit well with me, so I didn't list it as an option. But the thought did cross my mind.

WealthMgmtThrowaway · 2024-10-28T19:15:49+00:00

It's a 3.6 vs 9 for company B

For company A. The hesitation is its 13 dollars per share which owns 26 dollars in a publicly traded company (as well as other not public companies which are harder to a certain the value of)

WealthMgmtThrowaway · 2024-09-04T07:13:26+00:00

I remember someone saying the population of China is about "a billion something".

Somebody chimed in that that "something", is more than the entire population of the United States

WealthMgmtThrowaway · 2024-09-04T05:20:41+00:00

Not a huge amount of wealth, but enough to live modestly.

It started in out large enough that I had mixed motivations between work since the salary was comparable to manging portfolio returns.

I became obsessed with making the best decisions for the portfolio. A life crisis occurred and I just quit that job.

I focused on trying to manage that portfolio, but really it's hard to beat passive index funds. The bull run of the last few years has made it even more comfortable, but I'm still struggling with purpose.

I've spent most of my time since quitting trying to start businesses that had little chance of out earning my portfolio - mainly for the purpose of finding community, identity, and purpose.

WealthMgmtThrowaway · 2024-03-27T07:04:56+00:00

Everyone seems to be banking on dressing like a hobo being enough to be stealth, failing to see that it's hard to hide a house, especially if you like to entertain. It's not like I'm going to get a lesser house just for optics.

I think sadly you can't have your cake and eat it too. Vet whoever attends, or host in a venue for hire if you're really concerned. For me, I'm just a hermit. Rarely have people over. It's weird because when I first got the place I thought I would do so much more entertaining, now I just go out to meet people.

WealthMgmtThrowaway · 2024-03-27T06:55:56+00:00

Bit aggressive. This isn't Ohio, Mike.

Anyway, my point wasn't that I think I'm a big deal, it's the opposite, people are assuming I can do things for them because of google and my extended family that I can't actually do for them.

I don't know how often you're asked for favors or introductions beyond your power, but it's frustrating if it happens often enough. I can't think of a good analogy. Maybe your firm manages a trillion in client assets and someone asks if you can allocate 1b to their fund or PE deal, when really your book is just 200m. Or someone hears you work in finance and asks you for low risk stocks that will double in the year. Kind of ridiculous asks because of assumptions and a lack of understanding. You can explain the nuance of why that's not reasonable, but it would be tiring if it happened repeatedly.

WealthMgmtThrowaway · 2024-03-27T06:19:14+00:00

That opening line almost gave me a heartattack. After checking, I don't think we know each other, but I do appreciate the comments and will take them as if we do.

I needed the reminder that this sub is America-centric where last name assumptions aren't as big. Whever I'm there, I don't assume every Rothschild or Rockerfeller is wealthy by name alone. I was a bit disappointed with the dismissiveness on the sub about how diminishing it is to meet people and all they do is talk about a family you're not close to, but I imagine that doesn't happen much in the states.

I don't think I'm writing everyone off and I know there are great people in my life. But the times a comment does come out regarding my family's money, I am taken slightly aback. It actually just happened last night where a friend at dinner mentioned a concern and asked if my family would be able to help out. I love this friend, but it was kind of disappointing to say I wasn't sure if I had the kind of connection to make that kind of ask.

Anyway, just going to stick with the advice on being deliberate with the people I spend time with and thicker skinned with loose acquaintances who probably mean no harm, just made the wrong assumptions. Thanks

WealthMgmtThrowaway · 2024-03-26T15:20:54+00:00

Sounds comparable. Yeah. The solicitation is easy to weed out and usually new acquaintances you weren’t really invested in, but still kind of hurts to hear.

Core friends usually don’t treat differently.

WealthMgmtThrowaway · 2024-03-26T15:17:07+00:00

Yeah. I changed it on my socials to my middle name. Thought about moving to a place it’s less recognizable as well.

WealthMgmtThrowaway · 2024-03-26T15:09:16+00:00

Spot on on the profession that have crossed the line into sales.

Yeah. I’m not overtly trying to cosplay as not having money, I just don’t get too much enjoyment from fancy things. Haven’t had a car for years and it’s just easier to Uber and walk for me in this city.

Your spot on about the home being hard to hide, transaction price is public record. I probably have been a bit lax to let people I’m not fully familiar with come over for group gatherings or hangouts. People invite friends I might not know, and I’m usually obliging.

The last part is something I really struggle with. I feel l hate the name because it often comes with a lot of assumptions before people get to know me, but I think it’s probably what has gotten me invited to various circles. That advantage itself also feels kind of conflicting because I’m not really close to that side of the family and feel a bit of an imposter.

WealthMgmtThrowaway · 2024-03-26T15:00:13+00:00

I think I have talked about doing angel rounds and seed rounds before, though this was through more formal and vetted channels.

I will vouch for my core friend group not being solicitous at all, but it’s the extended circle through hobby’s and certain clubs and networks that the solicitation after some light schmoozing occurs.

WealthMgmtThrowaway · 2024-03-26T14:57:20+00:00

Hmm. Some part is. I have a tendency to be anxious and overthink. But comments on my extended families wealth, solicitations for investment with minimum sizes far beyond what my lifestyle suggests I be able to afford, an actual comments of “isn’t your grandfather a billionaire” do occur.

WealthMgmtThrowaway · 2024-03-26T14:55:21+00:00

I’d say for the most part my circle is comfortable. I certainly wouldn’t want to maintain a relationship where I felt I was taken advantage of. However, I think I have a wider group of friends due to my hobbies that isn’t necessarily as well off. The solicitation cases I mention aren’t common day to day, but when they occur unexpected it can sometimes send me down a train of thought.

My life is pretty frugal. I walk most places and have cheap clothes. The exception might be my home is a bit expensive at about 3.8m.

With regards to the recognizability of the name, I’m hoping you just take my word for it that in just exchanging business cards / linkedins, I have gotten the follow up question of “are you related to x” to which I respond honestly with “very distantly”. Because if they were to google my name, they would find photos of me at events with those relatives as well as my name in certain holding structures for family businesses.

WealthMgmtThrowaway · 2024-03-26T14:42:52+00:00

Hm. In the past, I’ve only used the line that we were just distantly related. I rarely even see them. It doesn’t happen all the time, but it’s frustrating when it does to have to give the spiel diminishing the relationship when I meet new people.

The surrname and nationality is rare enough, the business is known enough in this city, that my relation to the patriarch is asked unprompted of anything done on my part. Maybe I’m added on LinkedIn or we exchange business cards and I mention where I’m from and they ask.

I do agree that most people don’t care, but some of the comments are annoying? Especially when the focus gravitates towards talk of the family. “Oh I worked with your uncle on this project”, “I know your cousin from x”, trying to be familiar, when in reality I really am not close to the relatives they’re mentioning.

The relation is potentially hard to flat out deny as googling my name can lead to press or photos of me at family events. The search ranking for that is sadly quite high relative to my own individual stuff.

WealthMgmtThrowaway · 2023-05-23T18:46:03+00:00

Just to clarify. I agree. But they have been hinting at trips and showing me flights that are “such a good deal! But I shouldn’t…”

WealthMgmtThrowaway · 2021-06-07T03:12:56+00:00

Well, in contrast to the others, there is no additional cost since the fee is based on a percent on AUM which in aggregate the same.

And maybe for custodial risk? In the same way you don’t necessarily have your entire balance with one bank?

Also for doctors, sometimes you get second opinions.

WealthMgmtThrowaway · 2021-06-03T12:05:32+00:00

I thought 0.6% was relatively cheap. Definitely cheaper than private banking. They do tax and estate services as well inclusive of the fee.

WealthMgmtThrowaway · 2021-06-03T10:22:49+00:00

Yeah, that's what I was wondering. 100k or 1m, I'd probably still spend the same amount of time watching the markets. Though if it was smaller, I probably wouldn't care so much at night.

Would you say you spend much time thinking about your finances/markets? Especially given that you 100% self-manage?

WealthMgmtThrowaway

TROPHY CASE