“If we can’t rip off small investors, then to hell with them!”(1) read more »

A few weeks ago, amidst great fanfare, the US Department of Labor (DOL) finally gave birth to a rule requiring stockbrokers to act as fiduciaries with respect to their clients. (The rule had been in gestation for six years.) So celebratory was the news coverage that you could be forgiven for imagining that Warren Buffett had just offered to manage everybody’s money. read more »

I don’t actually plan to blog about every single chapter in Family Capital(1) – I’m hoping that at least somebody will buy the book – but I do want to highlight one additional discussion that takes place between the Titan-Wainwright branch of the family and their financial advisors. This one is called, “How to Blow a Billion Dollars.” read more »

The central part of Family Capital(1) focuses on the current generation of the Jake Titan branch of the family. In 2005 Jake Titan Jr. stepped down as head of the family office (almost too late, and only due to illness) and named his son, Ned Titan, and stepdaughter, Rose Wainwright, to succeed him. Ned and Rose were exactly the same age and had grown up together since the age of four. They were very close. read more »