A few observations from recent events.
Last week we attended our granddaughter’s dance performance at the Kirkland Performance Center. At intermission we got a beverage from the concession stand, tapped my card, and guess what? It didn’t ask for a tip. Maybe it’s a start of a lesson learned.
Wells Fargo is in the news again. A new credit card lets users pay their rent with it, get reward points, and not have fees from the landlord has been too popular. They’re losing $10 million a month on it. It may be a drop in the Wells Fargo bucket but still, again in the news for a screwup. No lesson learned.
Pension plans are leaving private equity. The main issue is the investments are illiquid. Duh! That’s why there’s what’s called a minority share discount for privately held businesses. You can’t get your money when you need it, like with a publicly traded stock. It’s tough when you must sell at a discount or borrow to pay pensioners. It’s a lesson the money managers should have learned.
It’s fun to see things and offer commentary. The lesson for small business owners, buyers, and sellers is, if it sounds too good to be true, it probably isn’t true.
“Ideas are not always responsible for the people who have them.” Katherine Whitehom
“People love to feel superior to their past.” Fran Lebowitz
