Hello, this is my first entry in this journal. I am an Ultra High Net Worth Individual (an Ultra-HNWI, or UHNWI). This journal is for the purpose of talking about my life and experiences as it relates to my net assets.
I try to lead a fairly average life. I have a wife, a job, and a mortgage. If you met me on the street and didn't know who I was you'd have no way of knowing that I am an UHNWI. I'm sure the same is true for most low-profile UHNWIs, unlike Bill Gates or Warren Buffet. I don't think most of my coworkers know. I prefer to keep it that way. Life is much simpler when people aren't thinking about your assets, or why you're working even though you have more money than lottery winners.
But it does limit what I talk about. I do have another journal about who I actually am, but I don't write freely. So this journal is the logical result of my attempt to separate who I am from what I have. I won't be talking about how I became a millionaire, though it probably isn't hard to guess. (The key: "Wealth is obtained in concentration and preserved in diversification.") I will try to respond to questions though, so if there's something you've ever wanted to ask a millionaire, feel free to ask me by posting a comment.
Anonymous
July 7 2006, 05:16:46 UTC 5 years ago
Preservation
I have read your blog and you are 100% correct on diversification vs concentration but...... I'd stop yacking about diversifying and do it. You can lose that UHNW status in a Day and don't tell me it couldn't happen to you. Think Enron, Crimmie Mae, Tyco, LU, ATHM, The Globe..... Shall I go on. Listen to your Financial Advisor and pull the trigger. Your 25% cap gain rate argument is worthless if that one lone stock goes down 80 plus %.Oh ,that's right your stock/company is different....... I am really happy you hit it just keep it and stop pontificating.
Anonymous
August 26 2007, 13:51:25 UTC 4 years ago
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Anonymous
February 18 2009, 06:59:02 UTC 3 years ago
Tramadol
:)=)