Bill Gross Has His Own Financial Advisor(s)
The once, and perhaps future, Bond King, Gross has been in the news a lot the past year. This post is not about that. Reportedly worth several billion dollars and as astute a financial manager as they come, Bill Gross has one or more financial advisors to manage his own money. Why?
Most people, even those that are successful in the world of finance and business, get their own financial advisor to keep themselves out of trouble. Intelligent people understand the benefits of having an independent third party there to make sure they don’t make any huge mistakes.
So says Ben Carlson, CFA, in this article on the topic.
My favorite anecdote in the article is the story about Oracle founder and mega-billionaire Larry Ellison, whose own financial advisor pesters him quarterly about diversifying what I presume to be a vast over-concentration in his company’s stock. A man after my own heart, the advisor that is.Tags: Investing