What advice would you give to investors and I think I'm really looking forward to
this answer And we have real estate. We've got sports. We've got art. We've got AI.
We've got farming this. I love this I'm dying to hear the answer each one of your
about 60 seconds each and What's the biggest piece of advice to investors out there
to improve their performance? My biggest piece of advice is we're all sitting here
It's 2024 imagine we're sitting here in 2034 everything that we all talked about
here is still going to exist. Real estate still going to exist. Sports teams are
going to exist. Farming is going to exist. There's-- technology is going to exist.
So you have to really look at what's coming down in the next-- what's coming in
front of us in the next 10 years. And I think there's a lot of great ideas
everyone's brought. All of this is very actionable. You can go home and go to your
family office and say, hey, I heard this on the stage and this is gonna be
something that we should look into and I think that would be my take home message.
- Advice, huh?
So I think
at least my strategy's always been to be authentic and I think I'm at my best when
I'm most authentic. So I went out and I started a hedge fund and I've been in
private equity and I've done all these things. But I've done my best work and had
the most significant growth I've ever had in my investment career when I focused on
the thing I know best, which is soccer. I can speak about it, it's authentic, it's
my story. So yes, the environment is crazy and markets go up and they go down.
But I think the most anti -fragile thing you can do is invest in yourself and
invest in telling your story and being as authentic as possible and staying close to
that narrative. So I don't know if that's helpful, but-- - But that's profound.
- Yeah, I agree with that. And I think relationships are also very important. People
will take you where you have to go and in uncertain times, that's you know you
have to lean on other people. I just love the concept of uncertain times because
for us like that's a Tuesday like we never feel like anything is absolutely certain
and in a world that's going digital stay analog or get a little analog there's
value in having art assets and history has shown that a lot of
the tools that we have today, our funds and our trusts, our charities and different
ways that we store wealth and grow it and have an impact with it. These are
privileges and they're privileges, they're written on pieces of paper and paper can
be rewritten, paper can be ripped up and history has shown us that no matter what
change has happened in the world at another place or eventually once the dust
settles there, even back there, there is a wealth class and that class will
desperately desire some place to store wealth, to grow it, to flaunt it even,
to have an impact with it, to build a legacy around it. So it's self -actualization
and that's the greatest need that we will ever have in our lives to fulfill. Art
Culture helps people fulfill that need, and among the most powerful and wealthy
people in the world, there's an unlimited resource that they have to fulfill it. So,
you know, we take advantage of the privileges that our respective empires afford us
today, but history again shows us no empire has survived history. But their art has,
and we even know about some of them today because of their art so it's not it has
a class I would ever overlook
yeah I think I think the idea of follow what you know and follow your passion is
is from a personal point of view is it's the best thing to do I mean it's you
can ignore the noise and focus on what you know and what you go that and you'll
succeed regardless of what is is going on around you so If you're talking about
personal investing, definitely go down that route. And whether it's art or sport or
IT or blockchain or playing games, it doesn't really matter. I think if you're
looking at the sort of more second, third generation family office where you're
sitting on a very large portfolio, it's professional managers rather than an
individual, then it's a slightly different way of looking at things because these
managers tend to be a lot less passionate.
But they should be looking at this whole fragility that we have here on the
uncertainty, both in terms of geopolitics and upcoming elections here and what asset
classes and technology are going to go and saying, you know what, right now is a
pretty good time to be diversifying. So, I mean, if I were a financial advisor,
which I'm not, I'd be telling people to spread it around a bit until we see what
next year looks like.
I should not say I love challenges, I love bad times, whereas it's a good time,
sometimes. So I think the key thing is that we need to have a purpose in such
uncertain or crazy time. With the purpose,
then you drive drive your passion, whatever passion like this panel has give me a
lot of chill, you know, about that passion. So with that, then we also find
alignments, that's where we are here, right? We're all here. We're finding alignments
because nobody can fight by themselves, and then we need to find alignments, see eye
to eye together to go with your passion, go with your purpose to be able to
accomplish. So, and then the last thing I think is the education at the same time
because you create a legacy not only in our generation, what's our purpose, and then
carry the family trees, roots along, and you need education for the Gen X,
Gen Z, and following. So that's how you can create a strong culture within the
family, within the country, within the community to be able to united together to be
able to fight any of the challenges we're facing. And last is that I love this
time because it's always you're fighting the people fight stronger together and then
we actually can accomplish more in this period of time and then if you focus, thank
you. - Excellent, and I just want to end by Briefly thanking Richard Wilson and his
team of absolute superstars at the family office club for putting on these meetings
That for me, I ought to win this one for anything so Richard and the team. Thank
you very very much