Hey Florida trustees: thinking of investing trust assets in that IPO, hedge fund, alternative investment or maybe some privately held interests you have access to? Florida trustees, and fiduciaries, should consider a recent New York Times article by best selling author Nick Bilton before investing trust funds.
Author Nick Bilton: Great Writing and Great Investment Lessons
- Nick Bilton writes for the New York Times, www.nytimes.com but is also a published author: Hatching Twitter. www.nickbilton.com , www.hatchingtwitter.com.
- Nick Bilton covers the business and tech beats, and, perhaps without knowing it, gave a great lesson, perhaps reminder, to trustees regarding investing trust assets.
- Be careful about trying to find the next best thing or the next Apple or Facebook
Trustees: Caution is Required– Many Investments Fizzle
- Nick Bilton’s recent New York Times article reveals just how many start ups don’t make it—even with venture capital backing them, great publicity, including celebrity A-list supporters ,and great media coverage in business mags.
- While you have your Facebooks and Twitters that come along now and then, many great ideas, and great entrepenuers, just don’t make it.
Trustees: Be Cautious: Invest, Don’t Get Sold
- In the investing world: don’t get sold, trustees
- Wealth management offers you many investment options
- Pick the ones which are right for your trust, not which are just being sold as a product of the week
- Alternative investments? Hedge funds? Private equity? Sure, they may all be appropriate for the right investors, the right Family Trust, depending on a number of factors, including risk tolerance and diversification
- Be guided by Florida’s prudent investor rule: not necessarily a sales pitch from a broker or a “wealth management professional”
- After all, even great ideas can fail as a business
- Check out Nick Bilton’s article for more revealing guidance: http://bits.blogs.nytimes.com/2014/06/29/after-a-fast-start-a-fading-path-looks-to-reinvent-itself-again/?_php=true&_type=blogs&ref=business&_r=0