- July 3, 2021
- Posted by: Stratford Team
- Category: Business
Warren Buffett said trading platforms like Robinhood encourages a ‘gambling impulse.’ UBS managing director and senior portfolio manager Jason Katz weighs in.
Billionaire investor Warren Buffett recently downplayed the importance of dynastic wealth in the U.S.– and said it would become even less important in the future.
In a letter published last week, Buffett – who is known for his philanthropy – advised rich families not to leave their children too much inheritance.
“Dynastic behavior is less the norm here than in most countries and its appeal will likely diminish,” Buffett wrote. “After much observation of super-wealthy families, here’s my recommendation: Leave the children enough so that they can do anything but not enough that they can do nothing.”
Timothy Speiss, managing partner at investment advisory firm Riverpoint Wealth Management, told FOX Business that he has observed a shift away from creating dynastic wealth among the…
