*What It Takes: Lessons in the Pursuit of Excellence*
*What It Takes: Lessons in the Pursuit of Excellence*
https://www.amazon.com/What-Takes-Lessons-Pursuit-Excellence/dp/1501158147
I had just finished reading this book.
Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, uses the book to show readers how to build, transform, and lead thriving organizations.
After business school, Schwarzman worked at the investment bank Lehman Brothers, became a managing director at age 31, and then head of global mergers and acquisitions. In 1985, Schwarzman and his boss, Peter Peterson, started The Blackstone Group.
Stephen Schwarzman is the man who took $400,000 and co-founded Blackstone, the investment firm that manages over $500 billion (as of January 2019).
Both he and the firm are known for the rigor of their investment process, their innovative approach to deal making, the diversification of their business lines, and a conviction to be the best at everything they do.
........................
One of my client is in a similar situation to Stephen Schwarzman. Stephen left his job as head of global mergers and acquisitions at Lehman Brother to start Blackstone.
In 2015 this client left his CEO corporate job in a IT firm and start his own private equity firm.
While we were having lunch 5 years ago at Ding Tai Feng resturant, he told me that he would no longer receive a huge salary every month from his corporate CEO role. And he will not be receiving any salary in his new startup company for the first few years. But he still have bills to pay.
His wife is not working and his 2 children are going to study in UK university. He also told me frankly that he did not know if his startup business will do well.
He asked me to construct a portfolio that can generate regular income of more than SGD10k per month. So he can use the income from his portfolio to pay for his bills. In my mind that is a huge responsibility! Because this is the amount of money he cannot afford to lose.
After discussion with him, I have built a portfolio makes up of 30% equities and 70% bonds with some leverage. The equities will generate potential capital gain + dividend income. The bonds will generate passive income.
I have managed his portfolio since 2016 and I am still managing his portfolio today. His annual ROI since 2016 has been more than 11%.
According to his financial needs, he has been regularly withdrawing out the gains in his portfolio to pay for his bills.
1 year ago he told me that his private equity firm is doing well and he has started to draw a fixed salary.
Today he is a happy client. He has since referred 3 of his high networth friends to us. During one of the lunch meeting with his friend (ex-bank CEO) and myself, he told his friend that his portfolio at UOB Private Bank has given him a peace of mind so he can focus on building his startup business.
I am glad that from my role as an investment advisor, I manage to help my client going through the tough times of his life.
https://www.amazon.com/What-Takes-Lessons-Pursuit-Excellence/dp/1501158147
I had just finished reading this book.
Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, uses the book to show readers how to build, transform, and lead thriving organizations.
After business school, Schwarzman worked at the investment bank Lehman Brothers, became a managing director at age 31, and then head of global mergers and acquisitions. In 1985, Schwarzman and his boss, Peter Peterson, started The Blackstone Group.
Stephen Schwarzman is the man who took $400,000 and co-founded Blackstone, the investment firm that manages over $500 billion (as of January 2019).
Both he and the firm are known for the rigor of their investment process, their innovative approach to deal making, the diversification of their business lines, and a conviction to be the best at everything they do.
........................
One of my client is in a similar situation to Stephen Schwarzman. Stephen left his job as head of global mergers and acquisitions at Lehman Brother to start Blackstone.
In 2015 this client left his CEO corporate job in a IT firm and start his own private equity firm.
While we were having lunch 5 years ago at Ding Tai Feng resturant, he told me that he would no longer receive a huge salary every month from his corporate CEO role. And he will not be receiving any salary in his new startup company for the first few years. But he still have bills to pay.
His wife is not working and his 2 children are going to study in UK university. He also told me frankly that he did not know if his startup business will do well.
He asked me to construct a portfolio that can generate regular income of more than SGD10k per month. So he can use the income from his portfolio to pay for his bills. In my mind that is a huge responsibility! Because this is the amount of money he cannot afford to lose.
After discussion with him, I have built a portfolio makes up of 30% equities and 70% bonds with some leverage. The equities will generate potential capital gain + dividend income. The bonds will generate passive income.
I have managed his portfolio since 2016 and I am still managing his portfolio today. His annual ROI since 2016 has been more than 11%.
According to his financial needs, he has been regularly withdrawing out the gains in his portfolio to pay for his bills.
1 year ago he told me that his private equity firm is doing well and he has started to draw a fixed salary.
Today he is a happy client. He has since referred 3 of his high networth friends to us. During one of the lunch meeting with his friend (ex-bank CEO) and myself, he told his friend that his portfolio at UOB Private Bank has given him a peace of mind so he can focus on building his startup business.
I am glad that from my role as an investment advisor, I manage to help my client going through the tough times of his life.
Comments
Post a Comment