Human and Financial Capital
An investor’s total wealth is composed of both human capital and financial capital. Human capital (HC) is the discounted present value of expected future …
CFA
Managing Risk of Investment Real Estate
A single investment in a real estate asset can be large and constitute a significant portion of an investor’s assets, …
Managing Risk of Private Business Equity
Privately held businesses may be more concentrated, the standalone and nonsystematic risk tends to be very high, and the asset …
Yield Enhancements and Other Strategies
Investors can enhance the yield of a concentrated stock position while decreasing its volatility by writing covered calls against some …
Equity Monetization
Investors holding a concentrated position can (1) hedge against a decline in the price of a stock, (2) defer the …
Managing Risk of Single Stock Positions
A portfolio consisting of only a few stocks would not generally be considered prudent because of the risk from the …
General Principles for Managing Concentrated-Single Asset positions
Frequently, the wealth of individuals and families is concentrated in an asset or group of assets that has played a …
Cross Border Estate Planning
Individuals and families with business and personal interests in more than one country face special estate planning challenges. Tax Considerations …
Estate Planning Tools
Trusts Trusts are a means by which a grantor (or settlor) can transfer assets to beneficiaries outside of the probate process. The trustee …