Avoiding the third-generation curse
Multigenerational investing requires one to factor in the possibility of extraordinary risk events, even if they might seem totally unimaginable at the time
Raymond Goss, CEO and founder of Genera Capital, sees himself as more of a risk manager than an asset manager.
While most retail investors worry about whether they will have enough money for retirement, Goss spends his time helping ultra-high-net-worth families trying to preserve, grow and transfer their wealth across multiple generations. To achieve this, he has to take a much broader view of economic history than most institutional investors, a process that involves factoring in the potential for unforeseen, catastrophic risk. These are the Black Swan events made famous by Lebanese-American statistician, investor and author Nassim Nicholas Taleb in his book The Black Swan...
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