Quote:
Originally Posted by LLL
Hey uncle MK,
I didn't lose millions in business investments like you but hundreds of k, yes. It just takes one to take off to cover the rest. So fortunately, my first one succeeded. It's really true that out of 10 business you invest in, 5 will die, 4 will be in purgatory and hopefully 1 make it. Lots of lessons learned. It's safer to invest in financial instrument imho than businesses you have little control over.
Curious, do you use private banks? Advisory or discretionary? |
To the post by LLL,
Uncle is fortunate to inhale the last breath of business endeavour. Some of my business partners lost faith and when back to day-jobs. With due respect, they're able to regain dignity and doing a stable career.
Initially, I self-managed my funds as no one takes care of money better than I (you) do. However, there is a time when I hit the plateau bar hence diversifiying out to Private Bankers. This too reduces my risk exposure as (commercial not investment) banks won't really 'collapse' due to Central Bank's reserve ratio requirement and monetary policies, no? My funds are mainly locked up in high-yield mutual funds like Blackrock etc. which to me is merely to protect my assets, nothing more.
Oh yes, uncle like to warn you guys that bankers and other financial institutions may harass you for almost all sorts of banking services. Do use the 'DNC' registry to your advantage - sometimes I would feel sad for this folks as not many old people like me will apply for credit services, banks might not approve too.
Gosh, more rattlings coming in