Well done! I love the life lessons you relate in raising your kids--a little bribery is perfectly rational--and that Jonah has grown into a fine young man. I admire his desire to strike out on his own.
Saw Sinatra at the Jersey Meadowlands in 12//87 -- Dean and Sammy had dropped from the tour, Liza was there. He obviously wasn't at his peak but at least I got to see him! Lifelong fan.
I worked at the Metropolitan Opera for a while and had lunch with Domingo in the company cafeteria a few times, although I admit my female colleague attracted him to our table (and she had no interest in him).
Vitaliy, I have been reading your stuff for years. Substack is a way better platform than your standalone because it gives me a single place to read your material together with the many other substacks I follow. And the reader dialogs are often the best part of writing...some very smart readers on Substack without the crap one usually gets on places like twatter. It is a perfect long form delivery vehicle and I think you will find it a good home for your material!
Vitaliy, there are lots of emails I receive to include wealth advisors, but none.... absolutely none... do I look forward to as much as yours. They are always informative, entertaining, and self effacing. Love your sense of humor and ability to tell a story. Your kids are fortunate to have you as a role model even if your hopeful Jonah decides to pursue a more honest and sociately acceptable career track
than financial services :-). If he chooses otherwise and decides to join you, please have him take on my account but at a reduced fee. :-)
I think your son working somewhere else first before potentially returning to work for IMA is actually a good route for him to follow. He will join with with earned credibility and an outside-in perspective. The whole concept of family succession in business and wealth management across generations is really well covered and unpacked in “Wealth- Grow it and protect it” by Stuart E Lucas if you haven’t read it already.
I second your motion, John. Time and again over the years, I have seen family members with outside experience outperform those with none. Two examples:
1) A major real estate developer in the Southwest whose sons grew up in the biz, learned little about negotiating with outside parties (they depended on their Dad and hired hands for that) and never gained the real world experience that would give them credibility with non-family employees.
2. The founder of a leading regional brokerage house in the South sent his son East for college and then told him to get a job on Wall Street. After several years, the Dad wanted his son to come join him but had a hard time luring him back from the success he was having both in his bulge-bracket firm and in the social life of Manhattan. When the son finally did return to his roots, other company employees recognized his talents, he rose quickly, allowing his father to ease into retirement. The young man built the company into a significantly larger powerhouse and sold it at close to the top of that era's cycle.
Vitaliy, I enjoy your writing, your thinking, your musical teachings and your clear love for family and business. The new layout and format of the newsletter looks great. Sorry to miss this year's Omaha activities. If we do ever get to meet and have a beer, I can tell you a story of not just getting to see Frank Sinatra perform, but getting to have dinner with him. Keep stoically sharing.
Vitaliy, I was introduced to you on a Gurufocus webinar that you conducted and I'm hooked. I love your writing, your insights on life and your sense of humor. Keep up the good work.
At first blush, I like it on Substack. All the best to you!!
Well done! I love the life lessons you relate in raising your kids--a little bribery is perfectly rational--and that Jonah has grown into a fine young man. I admire his desire to strike out on his own.
Different program, same enjoyable content
Saw Sinatra at the Jersey Meadowlands in 12//87 -- Dean and Sammy had dropped from the tour, Liza was there. He obviously wasn't at his peak but at least I got to see him! Lifelong fan.
I worked at the Metropolitan Opera for a while and had lunch with Domingo in the company cafeteria a few times, although I admit my female colleague attracted him to our table (and she had no interest in him).
Keep up the good work!
I was shocked when my daughter said she wanted to work with me. It's working out well.
Another excellent article on life and the world we live in, thank you.
best of luck with the new format.
Vitaliy, I have been reading your stuff for years. Substack is a way better platform than your standalone because it gives me a single place to read your material together with the many other substacks I follow. And the reader dialogs are often the best part of writing...some very smart readers on Substack without the crap one usually gets on places like twatter. It is a perfect long form delivery vehicle and I think you will find it a good home for your material!
Is it a coincidence that there is an article in today's issue of WSJ "World richest person tests his children as succesors"
This sounds like a Succession episode
Vitaliy, there are lots of emails I receive to include wealth advisors, but none.... absolutely none... do I look forward to as much as yours. They are always informative, entertaining, and self effacing. Love your sense of humor and ability to tell a story. Your kids are fortunate to have you as a role model even if your hopeful Jonah decides to pursue a more honest and sociately acceptable career track
than financial services :-). If he chooses otherwise and decides to join you, please have him take on my account but at a reduced fee. :-)
I think your son working somewhere else first before potentially returning to work for IMA is actually a good route for him to follow. He will join with with earned credibility and an outside-in perspective. The whole concept of family succession in business and wealth management across generations is really well covered and unpacked in “Wealth- Grow it and protect it” by Stuart E Lucas if you haven’t read it already.
I second your motion, John. Time and again over the years, I have seen family members with outside experience outperform those with none. Two examples:
1) A major real estate developer in the Southwest whose sons grew up in the biz, learned little about negotiating with outside parties (they depended on their Dad and hired hands for that) and never gained the real world experience that would give them credibility with non-family employees.
2. The founder of a leading regional brokerage house in the South sent his son East for college and then told him to get a job on Wall Street. After several years, the Dad wanted his son to come join him but had a hard time luring him back from the success he was having both in his bulge-bracket firm and in the social life of Manhattan. When the son finally did return to his roots, other company employees recognized his talents, he rose quickly, allowing his father to ease into retirement. The young man built the company into a significantly larger powerhouse and sold it at close to the top of that era's cycle.
Refreshing and engaging, as always !
Vitaliy, I enjoy your writing, your thinking, your musical teachings and your clear love for family and business. The new layout and format of the newsletter looks great. Sorry to miss this year's Omaha activities. If we do ever get to meet and have a beer, I can tell you a story of not just getting to see Frank Sinatra perform, but getting to have dinner with him. Keep stoically sharing.
is it a correct link to read a chapter from he Warren Buffett Shareholder -https://substack.com/redirect/f45987e8-9b21-4af1-9814-b2eafcb262a4?j=eyJ1IjoiMmM4em5lIn0.YKgmi2dL_2PfS4F8CFjJPXN1gW5YrtAgNdgLZakcJ24/?
It takes me to this website https://www.tenanthandbooks.com/
https://contrarianedge.com/50-shades-of-warren-buffet-or-next-year-in-omaha/
Vitaliy, I was introduced to you on a Gurufocus webinar that you conducted and I'm hooked. I love your writing, your insights on life and your sense of humor. Keep up the good work.
Eventbrite asks me for a code to get tickets for the valuexBRK event, where can I obtain it?