Swiss private bank Julius Baer ranked the top ten cities for lifestyle for HNWIs
1. Singapore
2. Zurich
3. Monaco
4. Hong Kong
5. London
6. Shanghai
7. Paris
8. Sydney
9. Milan
10. Bangkok
Based on prices of 20 luxury goods and services, with a higher weighting to residential property and cars
Goods: Bicycle, car, champagne, jewellery, men’s suit, residential property, sports equipment, technology package, watch, women’s handbag, women’s shoes
Services: Business-class flight, fine dining, healthcare, hotel suite, LASIK eye surgery, lawyer, MBA, private school, spa
How things have changed since 2022:
Easiest ways to get rich:
1. Sell men lust
2. Sell women beauty
3. Sell parents peace
4. Sell kids dreams
5. Sell the rich safety
6. Sell the broke hope
Same game. Different packaging.
Henry Kravis advises students not to launch a PE fund these days and suggests rolling up small businesses instead
Kinda funny coming from someone whose firm manages $750 billion, but also good advice. Too many PE funds out there these days
BREAKING: JPMorgan will create a new investment banking team focused on small-cap companies valued between $100 million and $500 million.
Small-deal activity is picking up because many baby boomer founder-led businesses are succession planning which will lead to sale activity.
JPMorgan thinks it can differentiate with scale and private banking relationships. John Richert will oversee the team.