Don Veneto

3rd gen family business exec confronting taboos on family, business & wealth transfer - the biggest market no one is talking about ... except dad at xmas lunch.

[Don Veneto @ViewsViaVeneto]

2/ given Russia (energy/wheat/commodities higher); supply chains "still peaking"; & US /Aus inflation still higher (& likely underreported). And difficulty for US to near term create positive real rates (i/r > 7% likely impossible given leverage in system)

[Don Veneto @ViewsViaVeneto]

@JohnoMcMenamin
1/Updated thoughts on 'should Aus worry abt high US inflation?' Im worried abt true US hyperinflation & impact on Aus economy through AUD/USD exchange rate, and 'inflatiation expections' in Aus (esp where Aus int rates end up). Macro situation worse since Dec eg:

[Johnathan McMenamin @JohnoMcMenamin]

Australian businesses need to plan for higher inflation but not the high inflation seen in the United States. Strong inflationary pressures are confined to a handful of items rather than being broad-based, see more here @ronmjm @masters_joanne https://t.co/8tEqkUl9bG

[Don Veneto @ViewsViaVeneto]

NB: there are some assets like tech stocks where the correlation is prob 'relatively' high

[Don Veneto @ViewsViaVeneto]

Good read on Crypto correlations to other asset classes @ApolloCapitalAU

TL;DR:
- in a 'risk off environment:’ investors sell everything, including crypto assets
- Over a longer term, crypto correlations are still relatively low.

https://t.co/m3BbfjR9kf

[Don Veneto @ViewsViaVeneto]

Im always recommending this newsletter - makes all sorts of curly finance topics relatable, understandable and entertaining. Just like WTF is going on today. A bit like a daily Michael Lewis book. Thanks @matt_levine

[Matt Levine @matt_levine]

All newsletters are very connected with each other. All life is connected. And it’s not even woo-woo. https://t.co/KRJG3esMHj

[Don Veneto @ViewsViaVeneto]

this is a cool idea 👏. Wish it existed in Australia!

[Anthemis @anthemis]

"Nosso is the investment platform I wish I had access to when my kids were born."

Our Farhan Lalji (@farhanlalji), on Why We Invested in @withnosso. Read more, via #AnthemisInsights: https://t.co/DatfRIlrsu

[Don Veneto @ViewsViaVeneto]

@waitbutwhy I shared the original "Tail End" w my parents recently - it really resonated.
The 3 takeaways:
1) Living in the same place as the people you love matters
2) Priorities matter
3) Quality time matters

And I love the positive update from this @nytimes 'green tree' 👏

[Tim Urban @waitbutwhy]

I wrote an article in today’s New York Times, about the bad and good news about being a human:

https://t.co/64T7WgFKzj

[Don Veneto @ViewsViaVeneto]

Q: Say an #angel / #vc / #familyoffice goes to lunch with an investee company, who pays?

[Don Veneto @ViewsViaVeneto]

Your family shares a bond of trust - a fantastic foundation for any business partnership. But its better to think about your #familybusiness relationship as a pro-sports team, not a family.

Everyone needs to chip in and contribute, or your chances of success will plummet.

[Don Veneto @ViewsViaVeneto]

Given the high degree of self directed #retirement accounts, compulsory #superannuation (and #financialliteracy), plus the wealth of the country, Im always surprised Aus doesnt have more multi #familyoffice providers. I expect to see many more pop up

https://t.co/bweZXFCG8u

[Don Veneto @ViewsViaVeneto]

Anyone who loved @Succession_HBO but sick of waiting for the new season (COVID production delay), check out @Yellowstone - lots of interesting #succession and #familybusiness themes running through that show!

[Don Veneto @ViewsViaVeneto]

Narrative violation: maybe DCA isnt the best way to invest a lump sum?

Too many people hear about it once and then apply the DCA concept wholesale, rather than with the nuance it requires.

Thanks for the article @nickmaggiulli 👏

https://t.co/eFWaFUaU4Q

[Don Veneto @ViewsViaVeneto]

This line: To build trust its important that "none of the economics of the MFO come from the sale, distribution or manufacturing of financial products or services. As such ... the economics of helping people buy are less scalable and take longer to build"

https://t.co/gaIT7myNRV

[Don Veneto @ViewsViaVeneto]

Chances of success are small for #familybusiness, so we have to work hard AND smart - "Only 20 percent reach to the third generation and only 13 percent survive beyond third generation".

#successionplanning is a big part of the 'SMART'.

https://t.co/bSqaeEGUuK

[Don Veneto @ViewsViaVeneto]

Here's an insight into the mindset required to create true #generationalwealth:

https://t.co/pR2YztQ8fU - this was the original name for @amazon. Still links to the real Amazon store.

(h/t @alexdanco - love the newsletter). #Amazon #JeffBezos

[Don Veneto @ViewsViaVeneto]

@SF_FamilyOffice To increase take up by #familyoffice, I would argue there are also increasing FINANCIAL risks from not implementing (and rewards from implementing) #ESG and #impactinginvesting

[Don Veneto @ViewsViaVeneto]

Hey @mwseibel - in this episode you highlight "a strong relationship between the co-founders is critical"

Q: Do you think family members (eg 2 siblings; or mother/daughter) add or subtract from ideal co-founder relationship?

(& another great episode @patrick_oshag!) 👏👏👏

[Invest Like the Best @InvestLikeBest]

Want to know what @ycombinator is looking for in applicants? Listen to YC CEO @mwseibel explain the 3 key things that matter in the application.

Our favorite part: "School doesn't really measure trajectory. At all. Whereas with us, it's really the only thing we care about."

[Don Veneto @ViewsViaVeneto]

@Jason @ihors3 And also who is lending the stock to facilitate the shorts - that would likely include RobinHood as they use the long holder stock via rehypothecation to enhance yield and generate cash for lending (via margin loans)

[Don Veneto @ViewsViaVeneto]

3. #Decisionmaking groups are good for 'exploratory thought', but beware of 'confirmatory thought'.
4. We view positive outcomes as skill & negative as bad luck - trying viewing outcomes from someone elses shoes to avoid self serving bias

[Don Veneto @ViewsViaVeneto]

Previous post about #financialliteracy for kids using probabilities and #decisionmaking reminded me of #ThinkinginBets by @AnnieDuke, which I often refer back to myself (and highly recommend). My key takeaways as follows: 👇

[Don Veneto @ViewsViaVeneto]

#ThinkinginBets top takeaways:
1. "Bets" help you think about 'other' outcomes & assign probability to each. Then u either 'win'/'lose' instead of being ‘right’/‘wrong’ (which absolute & too simplistic)
2. Happiness is from relative comparison- be aware what u compare yurself to