About 67 percent of those surveyed by BofA’s private wealth management unit haven’t told their children the full extent of their net worth, and 15 percent told their children nothing about their family’s wealth. The average age of those surveyed was 61. “There’s a concern that if the kids are fully cognizant it may start to influence how hard they work at their own careers,” said Banks. [Bloomberg]
what a world!
Some Wealthy Parents Not Letting On What Offspring Stand To Inherit In Hopes They Might Actually Make Something Of Themselves
By Bess LevinAnd hey, guess what else?! At least one person on earth has read the whole thing! [via DI]
Bill Gross and Mohamed El-Erian sit on the trading floor, and while they also have offices, they “rarely use them.”
Trailblazer
Kids, we live in a crazy time. What’s up is down, what’s down is up. Nothing is predictable and you never know what’s gonna happen. Take this groundbreaking piece of news: Mark Coury, a forward on the Cornell basketball team and finance major will be interning at Goldman Sachs this summer. Even crazier, despite being a college athlete, Coury demonstrates remarkable comparative analysis skills and a basic understanding of numbers.
Coury, a finance major, is good with numbers. So he knows that 12th-seeded Cornell (29-4), the first Ivy League team to reach the regional semifinals of the National Collegiate Athletic Association tournament since the University of Pennsylvania in 1979, faces a daunting task against the Wildcats.
But the shocks don’t end with Mark. Apparently, and I know this going to sound crazy, other people from this Ivy League school have gone down this road less traveled. Continue reading »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
