Research Area
Concentrated Wealth for family offices
Evaluate a business, a large stockholding and the investable portfolio as one economic balance sheet.
The central question
Where is the family's economic exposure concentrated?
Concentration4 min readRisk4 min readAllocation4 min read
Concentrated Stock Risk and the Family Balance Sheet
Evaluate a large single-stock position against essential goals, overlapping exposures, and a practical diversification plan.
Currency Exposure Across Assets, Liabilities, and Hedges
Separate reporting currency from economic exposure and build a hedge policy around obligations, risk tolerance, and funding capacity.
Combining Public and Private Assets Without Hiding Risk
Compare economic exposures, liquidity terms, valuation uncertainty, and performance evidence before setting a private-asset allocation.
Connect the assumptions.
The same spending requirement can imply different decisions when the time horizon, business exposure or ability to raise cash changes.
Compare the reference allocations
Use the reference models and worked cases to make those differences explicit.