Speaking of Money with FCE Group: Recent Episodes
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Manhattan’s Hunt & Fish Club is known for its upscale dining, but very few know the intriguing story of its origin and history. Stay tuned for Episode Six of Speaking of Money with FCE Group where Fred Sloan and Nelson Braff will fill you in on a few noteworthy tidbits.
Listeners will learn:
[0:21] The fascinating story of how Hunt & Fish got started as the “go to” restaurant for finance professionals in NYC. How restaurateur Eytan Sugarman, Nelson Braff and Anthony Scaramucci, founder of SkyBridge Capital, came together to create the concept.
[2:22] The origin of the Hunt & Fish Club’s name and why the word “club” is included in the title.
[4:08] Some of the recognizable guests that the restaurant has hosted – from Vice President Michael Pence to Reverend Al Sharpton, baseball great Derek Jeter, hedge fund manager Steve Cohen and the NBA legend Michael Jordan.
[6:33] The restaurant's best dishes, in Nelson’s opinion.
[7:50] What does it take to run a successful restaurant? The Hunt & Fish Club was started in a very challenging time financially. How did the founders make it succeed?
[12:30] As financial advisors, we start out with an objective and then we try to set up a plan to meet that objective. But we have to adjust it along the way because conditions change. Relating this to your experience running the restaurant, have things panned out as you envisioned on day one?
For appropriate disclaimers, please go to: https://www.fcequities.com/legal-notice
This episode’s guest is Artem Mashkov, a dynamic entrepreneur who describes himself as a founder, investor, and disruptor. He is the founder of several successful companies, most notably Intelligent Ventures, which raises capital for internal and external projects.
In this episode, listeners will learn about:
[Frame 0:27] What a venture capital firm really does. There is a popular misconception that capital is the most important need for a successful startup; whereas in reality it is execution that matters most. The real value that a venture investor brings is the ability to consult with the startup and guide them to achieve the proper return on investment.
[Frame 1:21] The investment Mr. Mashkov describes as “the best” he ever made, notwithstanding the fact that it actually resulted in a loss of $92,000.
[Frame 3:33] Why it’s actually difficult to learn from success, and why the most important lessons are learned from mistakes.
[Frame 4:26] The importance of attracting the right people to your business. Exceptional people are more valuable than exceptional ideas. How do you find exceptional people?
[Frame 6:03] The need to combine “street smarts” and “book smarts” in an optimal way.
[Frame 9:13] Why even a savvy businessperson with deep industry knowledge should be investing with a professional advisor.
[Frame 10:13] How millennials and business owners should think about their finances, and why qualified financial advisors are especially valuable to these populations.
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Sources cited in this episode
Mashkov, Artem. (2018, Feb 14). Why an Original Idea Isn't as Important as Having the Right Team, Inc. Magazine. Retrieved from https://www.inc.com/young-entrepreneur-council/why-an-original-idea-isnt-as-important-as-having-right-team.html.
For appropriate disclaimers, please go to: https://www.fcequities.com/legal-notice
While financial scams and fraud are common, there are a few simple things you can do to protect yourself. In this episode of Speaking of Money with the FCE Group, you will learn:
[0:50] A real life situation where a client’s accounts were hacked, simply because he clicked a link he received over email. Soon after calling the phone number in the link, and providing some personal information to the person he spoke with, he realized that his accounts had been hacked.
[1:55] Some common types of financial scams and how to identify them
[6:30] Never give confidential personal information over the phone to someone you don’t know unless you initiated the call
[7:50] Additional steps you can take to protect your identity and guard against fraud
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For appropriate disclaimers, please go to:
https://www.fcequities.com/legal-notice
The decision of which investment style is best, active or passive, is a subject of much debate. In this episode of Speaking with Money with FCE Group, listeners will learn:
[1:42] The difference between active and passive investing, and why the average investor should care.
[2:47] The definition of market efficiency and the reason why many active managers don’t outperform
[3:58] Examples of less efficient asset classes where the odds of an active managers earning their keep are greater: emerging market equities and fixed income.
[7:02] How the structure of how the investment is held is independent of whether it is active or passive. Many people assume that mutual funds are actively managed whereas ETFs are all passively managed but this is not always the case.
[8:41] The process for deciding when to utilize an active or a passive strategy.
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For appropriate disclaimers, please go to: https://www.fcequities.com/legal-notice
In reviewing prospective clients' brokerage accounts over the years, we regularly come across portfolio holdings that are inappropriate, disadvantageous, overly complex, and way too expensive.
In this episode of Speaking with Money with FCE Group, listeners will learn:
[0:30] What a proprietary investment product is. The term refers to a situation where a client has an account at a firm and their advisor selects investments created by the firm for which that advisor works.
[0:55] Why proprietary products may lead the advisor to select products that are not in the client’s best interests.
[3:01] Alignment of interest between advisor and client and why independent advisors, who select only outside investments, may be more aligned with the client’s best interests.
[5:00] Why the way in which your advisor is compensated does matter.
[6:28] Commission vs. asset-based management fee arrangements
[8:36] What you should look for in your accounts to tell if there is a possible conflict of interest from use of proprietary products.
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For appropriate disclaimers, please go to: https://www.fcequities.com/legal-notice
A recent Barron’s article entitled Rethinking Retirement Rules called into question the commonly accepted standard for estimating the maximum withdrawal rate for a prudently managed retirement portfolio (Kapadia, 2018). In our podcast we discuss and challenge the idea that a 4.5% spending rate should be applied consistently over an extended period of time.
In this podcast you will learn:
· What is the 4% rule and how does it impact retirement?
· How the maximum portfolio withdrawal rate varies in different market environments
· What happens if you experience below average returns early in your retirement
· Why and how to allow for an additional margin of safety to counteract a ‘bad luck scenario’
Sources
Kapadia, Reshma. (2018, June 2nd) Rethinking Retirement Rules. Retrieved from https://www.barrons.com/articles/rethinking-retirement-rules-1527898022
For appropriate disclaimers, please go to: https://www.fcequities.com/legal-notice