Typically when you have people with sudden wealth, they need a long-term plan to protect it from themselves. There's this initial pent-up desire to spend. Cars, houses, and gifts of money for so-and-so. Everyone is going to be your friend.
More Quotes from Mark Groesbeck:
Options create an incentive for people to work hard. But if they don't diversify, then they have their net worth and their livelihood tied up to the welfare of one company.Mark Groesbeck
I would typically say you could add 15 percent international, put 30 percent in small cap companies and 55 percent in large domestic growth names.
Mark Groesbeck
The time to get your house in order is while you're still employed.
Mark Groesbeck
It's been a wild ride, but we're back where we started four years ago.
Mark Groesbeck
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