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Unconventional Assets: Classic Cars as an Investment

Unconventional Assets: Classic Cars as an Investment

Investor interest in classic cars has grown enormously in recent years. “This enthusiasm has been powered by a rise in the number of aficionados and a perception among some that historic cars are a viable asset class,” equity analyst Patrice Collette said an article published by Capital Group. Collette points to the rising price for exquisite cars at private auctions as a clear indication that investors may be onto something. Last year, a red 1962 Ferrari 250 GTO sold for $48.4 million, breaking a world record for the highest bid for a classic car at an auction.

Family Office Operations: How Much Can Be Automated With AI?

Family Office Operations: How Much Can Be Automated With AI?

The recent rise in artificial intelligence (AI) technology brings with it a promise of unparalleled automation and efficiency but will also reshape the global workforce. Highly structured and protocol-based jobs are the most vulnerable to automation. In other words, the more a job relies on data and rules the more likely it is that a robot will take over in the not so distant future, according to researchers at the Sloan School of Management at MIT and Carnegie Mellon.

Why Wealthy Families Need a Robust Social Media Policy

Why Wealthy Families Need a Robust Social Media Policy

Seven years ago, Alexa Dell, the daughter of tech billionaire and Silicon Valley entrepreneur Michael Dell, posted a picture of her brother seated across from her in their private jet en route to Fiji for a short holiday.

Is a Recession Imminent?

Is a Recession Imminent?

It’s nearly impossible to predict a recession or an economic crisis. Experts, investors and economists look for signals in the market, but the timing of an oncoming disaster is notoriously elusive. “One can view a recession as imminent but the ‘when’ is difficult to determine and easy to get wrong,” says Frank Pape, a senior director at Russell Investments.

Family Offices Face Growing Cybersecurity Risks

Family Offices Face Growing Cybersecurity Risks

Despite the fact that family offices face increasing cybersecurity risks, many are not prepared. Citi Private Bank estimates that businesses across the world lost more $400 billion to digital attackers in 2016 alone. Nearly two-thirds had less than 1,000 employees. Family offices and small investment firms are particularly vulnerable, according to Edward Marshall, director of the Global Family Office Group at Citi Private Bank.

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