The Private Equity for Families Blog
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The blog provides insight, information, and opinion for successful families who want to include in their portfolios private equity or direct investment in privately-held businesses. Authored by Rob McCreary. He has more than 40 years of transactional experience as an attorney, investment banker, and private equity fund manager.
The Private Equity for Families Blog
2y ago
Does anyone really understand what it means for The Fed to “monetize” Treasury Debt it purchases? Does it evaporate? Is it just a book keeping entry? Does it have to be paid back? And to whom? I was curious enough to consult The Google with the following search “What Does Monetizing Debt Mean?” I ended ..read more
The Private Equity for Families Blog
2y ago
What if the future for the U.S. economy is a hybrid of stagnant GDP growth, and dramatically higher wage inflation? I am not an economist and I am reluctant to propose this, but is it possible we will have low growth in real GDP but lingering inflation? I have to keep reminding myself about how ..read more
The Private Equity for Families Blog
2y ago
As investors begin to understand inflation, including the possibility it may become an impossible headwind for “real” returns, everyone wants to know what to do now. Responses to my last blog demonstrated a grudging acceptance inflation is going to last longer than a cup of coffee. So now everyone is searching for a winning formula ..read more
The Private Equity for Families Blog
2y ago
Have you noticed an old financial prophet is now being quoted all the time by “The Wall Street Journal”, “Barrons”, “Bloomberg” and “The Financial Times”? Milton Friedman, a Nobel Prize winning economist who died in 2006, has been exhumed and his monetary wisdom once more is flourishing at the first significant inflation point in the ..read more
The Private Equity for Families Blog
2y ago
If you think the real estate excesses in the US housing markets in 2008 leading to the Big Recession were epic, the possible carnage from defaults in the debt based China property market are historic. According to an article in “The Wall Street Journal” written by Quentin Webb and Stella Yifan Xie on October 10 ..read more
The Private Equity for Families Blog
2y ago
When I was notified last week by our friends at municipal bond firm Wasmer Schroeder that Moody’s had given Illinois a credit rating upgrade, I could not believe it. This is a state with one of the highest unfunded public pension ratios in the country, the only state to borrow from The Federal Reserve to ..read more
The Private Equity for Families Blog
2y ago
There are two essential ingredients for the cake we call the American economy- Debt and Taxes. Throughout the country’s economic timeline we have seen the recipe wander from Colonial cooking where central debt and central taxes were not even in the mix to modern days where five cups of debt for one cup of taxes ..read more
The Private Equity for Families Blog
2y ago
Bitcoin gets all the attention because it is the rock on which all other cryptocurrencies are made possible. Supporters believe BTC will always have value because it is like collectible art. It has attracted intelligent investors who are willing to buy and hold a decentralized digital currency not backed by anything other than its compelling ..read more
The Private Equity for Families Blog
2y ago
In 1971 I was married while in college. I distinctly remember inflation in gasoline and food prices. I also remember wage and price controls because our landlord made us “rent to buy” furniture from his cousin as a way of increasing our rents. I have no recollection of what was happening with wages, but my ..read more
The Private Equity for Families Blog
2y ago
In the late 1960’s a large population cohort, the so called “Baby Boomers”, had an existential choice between fear of loss and the hypnotic call from Woodstock. Here is the first verse of Joni Mitchell’s epic song ” Woodstock” that captured the moment: I came upon a child of God He was walking along the ..read more