Investor Attendee List - Ritz Carlton Investor Event

Guest Post by Richard C. Wilson, Founder of the Family Office Club:

Our next investor club meeting, the Super Summit is at the Ritz Carlton featuring 700 participants, 200+ investors, and 75 family offices and private investors speaking on stage over a fast-paced 1.5 day agenda.  This event is called the Family Office Super Summit and some investors speaking do not want to be listed on our website or in this email due to privacy but here are 66 of the 75 speakers you will hear from and be able to network with while attending this event.

Please keep in mind not a single speaker at any of our 32 live events a year is a "paid speaker" - they are not paid to go on stage just to share their theories and insights for a speaking fee, they are here to get deals done, place capital, JV, and do business.  To attend yourself and make great connections please register here: http://FamilyOffices.com/Super

1.     Kevin Harrington (Single Family Office from Shark Tank)
2.     JD M.  (Single Family Office/ Fund Of Funds)
3.     Jonathan B. ($1B+ Multifamily Office)
4.     William P. (Single Family Office/ Angel Investor)
5.     Marco Antonio S. (Single Family Office)
6.     Bo M. (Angel Investor)
7.     Gregor K. (Single Family Office)
8.     Cristina C. (Multifamily Office)
9.     Marc L. (Wealth Manager)
10.   Nazar "Nick" N. (Single Family Office)
11.   Peter H. (Single Family Office)
12.   Bharat H. (Single Family Office)
13.   Paul K. ($1B+ Multifamily Office)
14.   Sarah H. (Single Family Office)
15.   Joshua  C. (Single Family Office)
16.   Carlos I. (Single Family Office)
17.   Rick S. (Single Family Office)
18.   Jose V.  (Multifamily Office)
19.   Eric M. (Single Family Office)
20.   Bharat S. (Single Family Office)
21.   Candice B. (Single Family Office)
22.   Julie N. ($1B+ Multifamily Office)
23.   Brian D. (Single Family Office)
24.   Dan K. (Private Investor)
25.   Simon L. (Single Family Office)
26.   Teresa E.  (Angel Investor)
27.   PJ M. (Multifamily Office)
28.   David G. (Single Family Office)
29.   Paul K. (Single Family Office)
30.   Sasha B (Single Family Office)
31.   Pierre D. (Single Family Office)
32.   Fillipo P. (Single Family Office)
33.   Moshe  L. (Angel Investor)
34.   David F. (Single Family Office)
35.   Duel G. (Single Family Office)
36.   Andrew A. (Angel Investor)
37.   Greg S.  (Corporate Venture)
38.   Dan G. (Multifamily Office)
39.   William A. (Wealth Manager)
40.   Randy W. (Wealth Manager)
41.   Charles S. (Angel Investor)
42.   Brian S. (REIT)
43.   James S. (Single Family Office)
44.   Joe B. (Private Investor)
45.   Eddie L. (Private Investor)
46.   Gene S. (Single Family Office)
47.   Pratik S. (Single Family Office)
48.   Jason P. (Angel Investor/ Seed Investor)
49.   Michael Blank (Single Family Office)
50.   Manuel B. (Single Family Office)
51.   Sheetal J (Single Family Office)
52.   Molly G. (Wealth Manger)
53.   Tom W. (Private Investor)
54.   Alejandro L. (Angel Investor)
55.   Wan Li Z. (Angel Investor)
56.   Geoff T. (Single Family Office)
57.   Demian W. (Multifamily Office)
58.   Luiz P. (Multifamily Office)
59.   Thomas Z (Single Family Office)
60.   Adam F. (Single Family Office)
61.   David B (Single Family Office)
62.   Rob B. (Single Family Office)
63.   Cliff O (Single Family Office)
64.   Manny F. (Single Family Office)
65.   Robert H. (Single Family Office)
66.   Kamil H. (Single Family Office)

In case this is your first time interacting with the Family Office Club, we are a 20 person team, 12 year old organization, and we have hosted 130 events over the last 12 years.  We provide the Family Office Club media and event community, and help families with their direct investment strike zone development and deal flow access.  Please let me know if you have any questions about this event or our organization overall.

Hopefully, we will be shaking hands in 11 days at the event.  The speakers, benefits of attending, agenda, venue details, and registration form are here: http://FamilyOffices.com/Super

Richard C. Wilson
Team Help Line: (305) 503-9077
Membership Director
Family Office Club
328 Crandon Blvd. #225
Key Biscayne, Florida 33149
http://FamilyOffices.com/Super

The Family Office Club has over 1,750 registered investors and 30 live events a year

Steve Einhorn - Omega Advisors Interview on Boyar Podcast

Steve Einhorn of Omega Advisors was recently interviewed on The World According to Boyar Podcast.  Einhorn has been Lee Cooperman's longtime partner at the firm, which recently converted into a family office.


Steve Einhorn Interview on Boyar Podcast

-  Omega runs long/short, primarily in the US with average exposure in developed economies.  Would prefer 15% lumpy return than a 8% non-lumpy return.

- They also spend a lot of time on macro thinking and strategy to combine with their equity research.  They assess a number of factors: economic activity, earnings growth, monetary/fiscal policies, valuation, supply and demand, etc.

-  This helps them determine what exposure they want in the portfolio.  If they're constructive overall, they're willing to take more stock specific risk.  They're bottom-up stock pickers, but if a macro outlook leans certain ways, they can look to take more exposure to a certain sector.  They'll also sell options premium in certain instances.

- On position sizing: they first look at liquidity as they don't want to be so large in a name that they can't get out without disturbing the market.  The second is the risk/reward associated with a given name.  A large long for them is 3-5% of assets and large short would be 1-2%.

-  They'll exit a stock if it meets their stock price target and upside is diminished, or if they were simply wrong on their assessment of fundamentals, or if there's another stock in the sector that's more attractive.

-  Currently he likes the tech sector (software) due to rapid growth in revenue and cashflow.  They see moats around many of these names allowing them to keep pricing flexibility.  They think global growth will be less than it has been historically, and in this environment they want to be invested in growth names, as tech names are often independent of the business cycle.  Not to mention, the multiples they're paying is not excessive in their view.

- Another sector they like is industrials as a synchronized global economic expansion will benefit some of these companies.  They like the position in the cycle.  They also like financials, feels they're cheap relative to tangible book and can see high dividend growth.  In the energy sector, oil prices have ramped up, but some of those stocks haven't reflected that.

- They're not interested in utilities or telecom names, anything interest rate sensitive.  Consumer staples is another area that "looks expensive to them on a multiple basis relative to underlying growth prospects."


Steve Einhorn's Bear Market Checklist

Five items are almost always present at the end of a US bull market and the start of a bear market.  The five are:

1)  Problematic inflation:  if wage inflation is around 3.5% it's a problem (it's currently well below that).  Also watch core consumer prices (you'd need to see consumer inflation in excess of 2.25%)

2)  A hostile Federal Reserve:  raising rates well above the neutral rate of 2.5-3% causes a hostile Fed (currently below that).  Thinks they'll gradually lift rates.

3)  Prospect of recession: "virtually nothing we look at shows the economy in the US is prone to a recession anytime soon."

4)  Investor sentiment:  climbing a wall of worry.  Currently doesn't think it's excessive or speculative.

5)  Valuation: When it becomes extended relative to interest rates and inflation.  Current multiples aren't extended in relation to interest rates.  Modestly above long-term average.


- Sees forward equity returns of 7-9%.  "Bull markets don't die of old age, they die because they are murdered by the Federal Reserve.  Our Federal Reserve is not in a murderous mentality given tame inflation and moderate economic growth."


For other recent podcasts, we've also previously highlighted Boyar's interview with Chris Mayer, the author of 100 Baggers.

Embedded below is the podcast audio of Boyar's interview with Steve Einhorn:



Email readers:  Click here to listen

If you missed it, we also posted up complimentary equity research from Boyar on Charter Communications (CHTR), Franklin Resources (BEN), and SunOpta (STKL). 

Stan Druckenmiller Interview: Likes Amazon & Tencent, Short Retail

CNBC's Kelly Evans recently interviewed legendary investor Stan Druckenmiller, who previously worked with George Soros and then started his own firm Duquesne (which he now runs as a family office).

Regarding interest rates, he says he wants to see normalization, not so much just rates rising, as he noted there's a difference between the two.  The former, he says, is about re-establishing a hurdle rate for investment.

"Bitcoin, art, wine, equities, credit... you name it.  Everything is one way up.  And there's huge distortions taking place and it's all in the name of this 2% inflation target. And when you get a misallocation of resources, it really hinders growth over the longer term."

He notes there's companies out there borrowing tons of money that shouldn't be and gave Steinhoff as an example (which he mentioned he had been short).

He doesn't own any bitcoin as he says he trades only what he knows.  "It's worth what people are willing to pay for it."

This year, Druckenmiller says he's done well in stocks but he's really mistraded macro.  "I'm not up double digits.  I'm having, relative to the opportunity set, a terrible year."  He's had a bad time in currency trading apparently but his excellent equities returns have bailed him out, so to speak.

Turning to equities for 2018, he doesn't buy the narrative that this is all about earnings.  He says it's all about central bank radicalism.

But for specific stocks, he really likes the stocks he owns long-term.  There's a lot of disruption going on in tech.  He's also been short retail throughout the year and he expects that theme to continue.

On the long side: "I love Amazon (AMZN).  This company, which everyone keeps quoting the multiple... is selling for less than 3x sales.  They're dramatically underearning.  You have to look at the long-term earnings power of the company.  I think (CEO Jeff) Bezos is incredible."

In China, Druckenmiller really likes Tencent (700.HK) as they're in payments, videos, cloud, gaming, and a huge platform (WeChat).  Like AMZN, they're also underearning and trading at 40x with a 40% growth rate, he says you're getting it at 1x growth rate.

Regarding Tesla (TSLA), he said he doesn't like to short great products (he gave himself one for his birthday a while back).  He questions the long-term financial model of the company, though.

On Apple (AAPL), he doesn't find it as exciting as AMZN, Facebook (FB), or Alphabet (GOOG).  He thinks AAPL might be overearning and doesn't own it but isn't short either.  He likes Workday (WDAY) as it fits into the new economy.

He doesn't think tax reform will impact the stock market as it's already priced in and anyways he feels the market is driven by central bank policy anyways.

Embedded below is the video of CNBC's full interview with Stan Druckenmiller:

.


You can also read the full transcript of the interview here.

15 Discounted Investor Conference Tickets Available - Family Office Super Summit [MarketFolly Subscriber Exclusive]

We have secured 15 discounted tickets for our work over the past decade with the Family Office Club which is offering an investor gathering next week featuring 1,000 participants, 75 family office speakers, and 100's of investors in the room.  This is the #1 largest family office wealth management and ultra-wealthy investor event globally with more speakers on stage that are family office investors than any other event ever held in the industry.

To reserve one of the 15 MarketFolly subscriber tickets for yourself if you are not already registered at just $399 instead of $995 please register here: http://FamilyOffices.com/folly

This offer is only good until these 15 tickets run out, is not available for those already registered, but can be used to bring a second guest or business partner to the event if you are already attending.  They do guarantee this event will be amazing and you will love it though or they will refund your full ticket price with no questions asked.  To register please complete the form at the bottom of this page: http://FamilyOffices.com/folly or call Daphny or Jennifer on their team at (305) 503-9077.

Benefits of Attending the Family Office Super Summit:

1.  Billions of Dollars in Capital On Stage (and much more in the room): The Family Office Super Summit features actual family offices and more of them on stage than any other event globally, not brokers or junior financial planners, because they know that families in their network and the hundreds of attendees in the room want to learn from the biggest single family offices and top-50 multi-family offices on what has worked for them, how they manage their capital, and what it takes to do business with a leading family office.

2.  Tap Into & Meet With the Fastest-Growing Investor Group: Family offices are becoming an increasingly important investor group for hedge funds, private equity managers, real estate companies, private companies, and anyone who relies on outside capital.  These families control hundreds of billions of dollars and we invite family offices from all asset classes to attend this annual summit in South Florida.

3.  Get Real Business Done: Unlike other conferences and trade shows, the Family Office Super Summit is all about getting real business done and building real relationships.  There are multiple networking sessions throughout the 3 days, starting with a welcome cocktail hour the night of December 4th and continuing through the conference.  A Florida single family office CIO cheerfully told them at the end of their last event, “I came here with 100 business cards; I have 4 left.” 

4.  Skip the Bull: This conference isn’t a pitch fest by sponsors; it is a conference for investment and wealth management professionals.  You’ll hear directly from real family offices looking to allocate capital and, like all of our events, the investors on stage will give it to you straight on what drives their portfolio strategy, how they select investments, and where they are looking to invest their money going forward.

5.  More Value for Less Money: If you are wondering how to budget your marketing and conference dollars, consider this – the Family Office Super Summit is their largest conference of the year, featuring 60+ family offices on stage and many more in the audience over 2 days.  For the chance to engage such an exclusive audience for a single day, you can usually expect to pay north of $2,000 for just one day.

Reserve one of the 15 tickets available for just $399 instead of $995 as a MarketFolly subscriber here: http://FamilyOffices.com/folly

60 reasons to attend the Family Office Super Summit

The final countdown to the Family Office Super Summit in Miami has begun. In just 2 weeks you will be able to join a room of hundreds of family office executives, private wealth managers, dealmakers, and investors for a distinctive conference experience with various networking opportunities. If you needed any more reasons to attend the Family Office Super Summit, here are 30 more:


- Chris Chandler – Ballentine Partners ($6B+ Family Office)
- Garbis Mechigian – CTC|myCFO ($41B+ Family Office)
- Lorraine George-Harik – HPM Partners ($6B+ Family Office)
- Sylvia Benito – GenSpring Family Office ($7B+ Family Office)
- Julie Neitzel - WE Family Offices ($5B+ Family Office)
- James Cornell – Fiduciary Wealth Partners ($700M+ Multi-Family Office)
- Andres Bethencourt – Amzak (Single Family Office)
- Allen Morris – The Allen Morris Company (Single Family Office)
- Yazan Abdeen – Private Family Office (Single Family Office)
- Matthias Boizard – Fiducial (Single Family Office)
- Andrew Mehalko – AM Global ($400M+ Multi-Family Office)
- Christopher “Kit” Boyatt – Lazard Asset Management (Hedge Fund Investor)
- David Weiss – Rebel Rebel Capital (Single Family Office)
- William DuBois – Pilotage Private Wealth ($700M+ Multi-Family Office)
- Anuj Jain – ARJ Strategy Partners (Single Family Office)
- Colin Hickey – AM Global Family Office Investment Office ($400M+Multi-Family)
- Federico Benavides- Beamonte Investments (Single Family Office)
- Katherine Boas – Carl Marks & Co. (Single Family Office)
- Benjamin Marks – Leveraged Equity Holdings LLC (Single Family Office)
- Kermit Claytor – King Mountain Capital Group (Single Family Office)
- Vaugh Brock – Veritas Family Partners (Single Family Office)
- Paul Kang – AltaCap. (Single Family Office)
- Eduardo Grenuner – GFG Capital ($750M+ Multi-Family Office)
- Clifford Friedman – Raptor Group Holdings (Single Family Office)
- Alan Snyder – Shinnecock Partners (Single Family Office)
- Silvia Rosen – LionX Advisors (Single Family Office)
- Steven Wagner – Omnia Family Wealth ($500M+ Multi-Family Office)

To view 30+ more reasons to attend, browse the agenda and reserve your seat, please visit: http://FamilyOffices.com/Super

We have just under 100 tickets remaining for this 1,000 attendee event, I would suggest registering soon before we sell out if you do plan to attend by completing the reservation form at the bottom of this page: http://FamilyOffices.com/Super

I look forward to seeing you in sunny Miami soon,

Richard C. Wilson
CEO & Founder
(305) 503-9077
Family Office Club
328 Crandon Blvd. Suite #223
Key Biscayne, Florida 33149
United States
http://FamilyOffices.com/Super

For 10 years running, the Family Office Club is the premier community for more than 1,500 registered family offices who manage $1 trillion+ in assets

Why over 1,000 investors and investment professionals are meeting in 3 weeks

Here is why over 1,000 investors and investment professionals are gathering in just a few weeks at the Family Office Super Summit: http://FamilyOffices.com/Super

1) Billions of Dollars in Capital On Stage (and much more in the room): Our conferences feature actual family offices, not brokers or junior financial planners, because we know that families in our network and the hundreds of attendees in the room want to learn from the biggest single family offices and top-50 multi-family offices on what has worked for them, how they manage their capital, and what it takes to do business with a leading family office. Take a look at the speaker-lineup for yourself to confirm it is more family offices on stage than any even you have ever attended or seen available: http://FamilyOffices.com/Super

2) Tap into the Fastest-Growing Investor Group: Family offices are becoming an increasingly important investor group for hedge funds, private equity managers, real estate companies, private companies, and anyone who relies on outside capital. These families control hundreds of billions of dollars and we invite family offices from all asset classes to attend this annual summit in South Florida.

3) Get Real Business Done: Unlike other conferences and trade shows, the Family Office Super Summit is all about getting real business done and building real relationships. There are multiple networking sessions throughout the 3 days, starting with a welcome cocktail hour the night of December 4th and continuing through the conference. A Florida single family office CIO cheerfully told us at the end of our last event, “I came here with 100 business cards, I have 4 left.”

4) Skip the Bull: This conference isn’t a pitch fest; it is a conference for investment and wealth management professionals. You’ll hear directly from real family offices looking to allocate capital and, like all of our events, the investors on stage will give it to you straight on what drives their portfolio strategy, how they select investments, and where they are looking to invest their money going forward.

5) More Value for Less Money: If you are wondering how to budget your marketing and conference dollars, consider this – the Family Office Super Summit is our largest conference of the year, featuring 60+ family offices on stage and many more in the audience over 3 days. For the chance to engage such an exclusive audience for a single day, you can usually expect to pay north of $2,000 for just one day. Attend the Family Office Super Summit on Dec. 5-6th and the Welcome Reception on Dec. 4th for just $995 or become a charter to attend for free (more info on charter membership: http://FamilyOffices.com/Association)

To attend the Family Office Super Summit please complete the form at the bottom of this page: http://FamilyOffices.com/Super or call Richard at (305) 503-9077.

"For 10 years running, the Family Office Club is the premier community for more than 1,500 registered family offices who manage $1 trillion+ in assets"

Come network with 100's of investors and HNW ultra-wealthy families

Just a quick head's up for anyone raising capital or looking to connect with investors such as family offices.  The Family Office Club is hosting a 1,000 participant conference featuring over 50 ultra-wealthy investors on stage and 100's in the audience at the Family Office Super Summit.

http://FamilyOffices.com/Super

If you are looking to raise capital and connect with many investors all within a tight 2 day event please check out the confirmed speakers and benefits of attending.  I've known Richard C. Wilson their founder for a decade now and they are the real deal - the Family Office Club guarantees you love the event or they give you a refund on your ticket (wonder why nobody else does that?)  Here are the details on attending:  http://FamilyOffices.com/Super

Soros Fund Buys Shares in Exa & Sigma Designs

George Soros' family office Soros Fund Management has filed two separate Form 4's with the SEC recently.

Soros Adds To Exa Stake

First, Soros' Form 4 regarding Exa (EXA) indicates that the firm was buying EXA shares on September 11th through 13th.  In total, they acquired 159,500 shares at weighted average price of $14.1881.  After these purchases, Soros now owns over 1.66 million shares of EXA, or 11.07% of the company.

Per Google Finance, Exa is "develops, sells and supports simulation software and services that manufacturers use in design and engineering processes. The Company focuses primarily on the ground transportation market, including manufacturers in the passenger vehicle, highway truck, off-highway vehicle and train markets, as well as their suppliers. Its product, PowerFLOW, is a software solution for simulating fluid flow problems, including aerodynamics, thermal management and aeroacoustics, or wind noise. PowerFLOW uses its Digital Physics technology that enables it to predict fluid flows. PowerFLOW directly simulates unpredictable turbulent scales. The PowerFLOW software suite includes the simulation engine and grid generation engine, along with pre- and post-processing software products. The software is delivered in client/server architecture, or through its cloud-based offering, ExaCLOUD. With the ExaCLOUD solution, various client features and functions are accessed through a Web browser."


Soros Boosts Sigma Designs Stake

Per a Form 4, Soros has also disclosed it acquired 65,625 shares of Sigma Designs (SIGM) on September 12th and 14th at a weighted average price of $5.8562.  After the buys, Soros now owns over 5.08 million shares of SIGM.

Per Google Finance, Sigma Designs is "a provider of global integrated semiconductor solutions. The Company offers media platforms for use in the home entertainment and home control markets. The Company sells its products into markets, including smart television, media connectivity, set-top box and Internet of Things (IoT) devices. The Company's media processor product line consists of a range of functionally similar platforms that are based on integrated chips, embedded software and hardware reference designs. The Company's media connectivity product line consists of wired home networking controller chipsets that are designed to provide connectivity solutions between various home entertainment products and incoming video streams. The Company's IoT devices product line consists of its wireless Z-Wave chips and modules. The Company is engaged in the license of its internally developed intellectual property. It also offers legacy products that are sold into prosumer and other industrial applications."

Soros Fund Boosts Sigma Designs Stake

George Soros' family office Soros Fund Management has filed a Form 4 and 13G with the SEC regarding shares of Sigma Designs (SIGM).  Per the filing, Soros now owns 10.66% of Sigma Designs with over 4.06 million shares.

The Form 4 indicates Soros was buying on April 12th and 13th at a weighted average price of $5.6371.  Their position size is now 2 million shares larger than what it was at the end of January per their previously filed 13G.

Per Google Finance, Sigma Designs is "a provider of global integrated semiconductor solutions. The Company offers media platforms for use in the home entertainment and home control markets. The Company sells its products into markets, including smart television, media connectivity, set-top box and Internet of Things (IoT) devices. The Company's media processor product line consists of a range of functionally similar platforms that are based on integrated chips, embedded software and hardware reference designs. The Company's media connectivity product line consists of wired home networking controller chipsets that are designed to provide connectivity solutions between various home entertainment products and incoming video streams. The Company's IoT devices product line consists of its wireless Z-Wave chips and modules. The Company is engaged in the license of its internally developed intellectual property. It also offers legacy products that are sold into prosumer and other industrial applications."

Joho Capital Adds To GrubHub Position

Robert Karr's Joho Capital has filed a 13G with the SEC regarding its position in GrubHub (GRUB).  Per the filing, Joho now owns 5.1% of the company with over 4.37 million shares.

This means they've increased their position size by 935,100 shares since the end of the third quarter when they owned 3.43 million shares.  The filing was made due to activity on November 14th. 

Per Google Finance, GrubHub is "a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices. The Company's target market is primarily consists of independent restaurants. Diners can access the platform through www.grubhub.com and www.seamless.com. The Company offers diners access to the network through its mobile applications designed for iPhone, iPad, Android, iWatch and Apple TV devices. The Company provides a corporate program that helps businesses address problems in food ordering and associated billing. In certain markets, the Company also provides delivery services to restaurants on its platform that do not have their own delivery operations. Allmenus.com and MenuPages.com provide an aggregated database of approximately 380,000 menus from restaurants."

Last Chance: Next Week's Family Office Super Summit

We’re coming down to the wire for the Family Office Super Summit taking place in Miami next week. If you did plan to attend be sure to take advantage of the amazing offer that Market Folly has negotiated with the Family Office Club. Market Folly readers can attend this 2-day conference for just $299 (compared to $699 standard price). To save big, use promo code “Save400” on the form at the bottom of this page: http://FamilyOffices.com/Super  

This is an exceptional opportunity to connect face-to-face with the wealth managers that oversee  billions of dollars for some of the most successful and affluent families in the world. Family office-led panel discussions and presentations will cover a range of topics including allocation trends, fund manager selection, co-investing, and more. To see the agenda, speaker lineup, and everything that is included with your admission visit http://FamilyOffices.com/Super  

Remember: as a Market Folly reader you can attend this world-class event for just $299 so register today using the promo code “Save400” at http://FamilyOffices.com/Super or sign up over the phone by calling Sophia Akom at the Family Office Club at (305) 503-9077.  See you next week in South Florida.

49 Reasons to Attend the Family Office Super Summit & Market Folly Discount

The Family Office Super Summit is less than two weeks away and seats are almost filled.  To register for just $299, use Market Folly's exclusive promo code “Save400” to instantly save $400 off admission at this link: http://FamilyOffices.com/Super

Besides having an excuse to escape chilly weather to head south to sunny Miami, here's forty-nine reasons to attend this family office gathering in Miami.

Here's the speakers list:

1.    Pierre duPont – HPM Partners ($1B+ Family Office)
2.    Matthew Storm – CV Advisors (Top-50 MFO)
3.    Eric Munson – Private Family Office (SFO)
4.    Angus West – Perspecta Trust ($1B+ Family Office)
5.    Howard Cooper – Cooper Family Office (SFO)
6.    Candice Beaumont – L Investments (SFO)
7.    Timothy Jacobson – Pearl Capital Advisors (SFO)
8.    Eric Wilcomes – DuPont Capital (Pension Fund)
9.    Steven Waters – World Vision (Non-Profit)
10.    David Fisher – Bentley Capital (SFO)
11.    Michael Felman – ShoreFront Capital (SFO)
12.    Steven Simmons – Sideris Capital Partners (SFO)
13.    Tom Groos – Tyden Venture & City Light Capital (SFO)
14.    They maintain a great balance of investment executives and family offices, so many of the 700 reserve seats have been allocated to the 250+ family office executives in attendance
15.    Stacia Wells – Bilzin Sumberg
16.    Ira Perlmuter – T5 Equity Partners (SFO)
17.    Federico Benavides – Beamonte Investments (SFO)
18.    Russell Deakin – Brazil Family Office (SFO)
19.    Michael Nelson – Eagle Bay Advisors (MFO)
20.    Richard Klitzberg – McDaniel College (Endowment)
21.    Marie Arrigo – EisnerAmper LLP
22.    3 jam-packed days included with admission, including the Early-Arrivals Cocktail Reception on November 28th. This cocktail reception is open to all attendees who will be in town the night before the conference. You can view the Super Summit schedule here:  http://FamilyOffices.com/Super-Summit-Agenda
23.    Michael Sury – Indorus Holdings (SFO)
24.    Sasha Bernier – Cheltenham Investments (SFO)
25.    Richard C. Wilson – The Miami Family Office (SFO)
26.    Andrew Beaton - Capital Dynamics ($1B+ Asset Manager)
27.    Paul Smith – NAPLIA
28.    Mitch Garrett – Trump Hotels (SFO & Hospitality Investor)
29.    With catered breakfast, lunch, and cocktail receptions as well as breaks throughout, you will have plenty of opportunities to interact with all the high-power executives in attendance
30.    Doug Fullaway – FourteenPlus, LLC
31.    Theodore O’Brien – The Detroit Family Office (SFO)
32.    Jeff Kissee – Capital 8 Group
33.    Vincent Pica – Safanad Inc. (SFO)
34.    Quickly add dozens of family offices and institutional investors to your relationship network, learn how they like to partner with other investors and investment managers, and become more effective in quickly navigating the family office industry
35.    Irwin Boris – Confidential Family Office (SFO)
36.    Sebastian Jano - Himan Brown Charitable Trust (SFO)
37.    Brian Shelley – Colmena Group (SFO)
38.    Karin Ford - MUFG ($1 trillion+ Asset Manager)
39.    Anthony Annino – Perspecta Trust ($1B+ Family Office)
40.    David Sobelman – Generation Income Properties
41.    JP Maroney – Harbor City Capital Management
42.    Jake Harris – Harris Bay
43.    Katherine Zamsky – Besyata Investment Group (SFO)
44.    Richard Stone – Palm Beach Investment Research Group (Non-Profit Investor Club)
45.    For nearly a decade, the Family Office Club has offered a 100% money-back guarantee on all our events so you have peace of mind registering.
46.    James Rubin – Resurgence Asset Management
47.    Carl Sheeler – Berkeley Research Group
48.    Jeff Evans –  Volta Global (SFO)
49.    Brendan Holt Dunn – Holdun Family Office (SFO)


Bonus – Reason #50: Admission for this 2-day event is just $299 for Market Folly readers (compared to $699 normal price). This special discount is only valid for the first 5 professionals to register. Use promo  code “Save400” 

Register for the event, browse the agenda and view the speaker line-up here: http://FamilyOffices.com/Super

If you have any questions you can give the Family Office Club a call at (305) 503-9077.

Stan Druckenmiller: "I Basically Have a Large Bet on Economic Growth"

Duquesne Family Office founder Stan Druckenmiller appeared on CNBC today to give his thoughts on the markets and election. 

He noted that after the election a lot of regulation will be taken out of the system which should help get things going.  Other changes like tax reform, especially reducing the corporate tax rate encouraged him as he was "quite optimistic" on the economy.

Druckenmiller said that, "I have a large bet on economic growth ... I'm short bonds globally ... I'm short bunds, I'm short Italian bonds, I'm short US bonds.  I like sectors of the equity market that respond to growth, value, and materials, not things like staples and traditional growth stocks." 

He also added he likes the US dollar, with an emphasis against the euro.  And he has dumped his gold long (he actually sold during the night of the election).  He noted the reasons he previously owned it for 'might be ending.'

Druckenmiller also added, "If it wasn't for the messy conflict of rates rising with the stronger economic growth through fiscal policy, I would think there's so much low hanging fruit in terms of deregulation and tax reform, we could get a jolt of 4 percent growth for about 18 months."

That said, he's also cautious that interest rates rising could push that down to high 2, low 3 percent growth.  "I think the market is going to force this.  The market is going to push them to raise interest rates if my hopeful scenario turns out to be right."

He added that monetary policy essentially helped get Donald Trump elected as it caused a 'massive reallocation' of wealth from the middle class to the rich.

"Dr. Copper: have you seem him lately?  It's been rising.  Interest rates have been at stupid levels, they've been held down... they're like beach balls under water."

Embedded below are some of the videos from Druckenmiller's interview on CNBC

Video 1




Video 2

Connect with the World's Wealthiest Family Offices This Month - Exclusive Discount

We wanted to remind our readers that at the end of this month the largest family office association in the world is hosting its annual Family Office Super Summit in Miami, Florida. This event features the biggest names in the family office industry from November 28th-30th.  As a Market Folly reader, you can attend for the incredibly low discounted price of just $299. 

To register simply enter “Save400” on the form at the bottom of this event page: http://FamilyOffices.com/Super


What will you receive with your $299 admission?

•    Access to the Early Arrivals Welcome Reception on November 28th so you can get a head start meeting with family offices, investors, and financial executives over cocktails and hors d'oeuvres.

•    Two packed days of networking, investor-led presentations, and family office panel discussions on direct investments, family office wealth management, and managing portfolios for HNWI’s and ultra-wealthy families.

•    Fully catered meals, multiple cocktail hours over 3 days, and a Bloody Mary bar mixer to give you even more chances to meet with fellow attendees and investors.

•    A chance to mingle with family offices and potential investment partners in Miami who are in town for the conference and the country's biggest private art festival, Art Basel, taking place in South Florida the same week.  This festival attracts high-net-worth individuals, celebrities, family offices, and business leaders to the various art exhibits, gallery showings, and premium networking events throughout Miami.

•    Real insights directly from family offices responsible for investing some of the world’s largest fortunes on how they make portfolio decisions, what they look for in a prospective investment, and how you can do business together. 


This is the premier family office conference and for just $299 as a Market Folly reader you cannot find a better deal to attend a multi-day investor event.  Remember, use code “Save400” to lock in this incredible deal using the form on this page: http://FamilyOffices.com/Super or call (305) 503-9077 and tell the Family Office Club that you're a Market Folly reader.

Market Folly Exclusive Discount: Florida's Largest Family Office Conference

Market Folly's partner, The Family Office Club, is lowering the price for you to access their largest event of the year.  The Family Office Super Summit is an incredible conference experience, featuring an audience of 700+ attendees, 250+ family offices, and 50+ family office speakers on stage.

Market Folly readers receive $400 off admission, so you can attend the event for only $299.  Simply use the registration code "Save400" when signing up: http://FamilyOffices.com/Super

Your week starts with an early arrivals cocktail reception on November 28th, a fully-catered conference session with multiple networking breaks on November 29th, and our final day on November 30th with panels, presentations, and a build your own Bloody Mary Bar to send you off to a week's worth of art, culture, and fun in Miami at the country's biggest private art festival, Art Basel.

For more information and speaker line-up visit: http://FamilyOffices.com/Super

If you have any questions about the event you can give the Family Office Club a call at (305) 503-9077 and they can help you get signed up with this exclusive discount.

Meritage Group Boosts Dunkin' Brands Stake

Investment firm Meritage Group has filed a 13G with the SEC regarding Dunkin' Brands (DNKN).  Per the filing, Meritage now owns 5.4% of the company with over 4.96 million shares.

The filing was made due to activity on May 24th.  They previously owned 3.78 million DNKN shares at the end of the first quarter.

For more from this firm, the Graham & Doddsville newsletter recently interviewed Meritage's Alex Magaro.

Meritage is the family investment vehicle of Renaissance Technologies founder Jim Simons.

Per Google Finance, Dunkin' Brands is "a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin' Donuts and Baskin-Robbins brands. The Company operates its business through four segments, which include Dunkin' Donuts-U.S., Dunkin' Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S. Dunkin' Donuts serves in the hot regular/decaf/flavored coffee category and the iced regular/decaf/flavored coffee category. The Company has over 18,000 points of distribution in approximately 60 countries across the world. It has over 11,750 Dunkin' Donuts points of distribution, of which approximately 8,430 are in the United States and over 3,320 are international, and approximately 7,610 Baskin-Robbins points of distribution, of which over 5,104 are international and approximately 2,500 are in the United States. ."

Stan Druckenmiller's Sohn Presentation & Transcript: The Endgame

The 2016 Sohn Conference New York just finished and we posted up notes here if you missed them.  Stan Druckenmiller of Duquese Family Office gave a presentation called "The Endgame" and the slideshow and transcript have been released.  They're embedded below:

Druckenmiller's Sohn Conference Presentation



You can download a .pdf copy here.


Druckenmiller's Sohn Conference Transcript



You can download a .pdf copy here.

And if you haven't already, be sure to check out our full notes from Sohn Conference New York featuring the likes of Larry Robbins, David Einhorn, Jim Chanos and more.

53 Reasons to Attend the December Family Office Super Summit

The Family Office Super Summit is just a few days away on Tuesday next week in Miami and with 471 registered participants it is almost sold out. (Reserve your seat: http://FamilyOffices.com/Super). I’m sure you don’t need any more reason than the chilly weather to head south to sunny Miami this December, but for everyone else who might need further convincing, here are 53 additional reasons to attend this family office conference in Miami in just a few days: 

53+ Family Office Super Summit Speakers 

1.    Sergio Pedro - Jones Family Office (Single Family Office)
2.    Karl Schade – Presidio Group (Top 50 Family Office)
3.    Frank Häusler - Marcuard Family Office (Top 50 Family Office)
4.    Gary Monroe – Gilder Office for Growth (Single Family Office)
5.    John Jennings – St. Louis Trust Company ($1B+ Family Office)
6.    Leah Zveglich – Aster Family Advisors (Family Office)
7.    Angie Sabel – Abbot Downing (Top 50 Family Office)
8.    James B. Bertles – Tiedemann Wealth Management (Top 50 Family Office)
9.    Michael Studer - Oil & Gas Syndicate
10.    Harris S. Fried – Fried Family Office (Single Family Office)
11.    Candice Beaumont – L Investments (Single Family Office)
12.    Michael Sury – Indorus Holding (Single Family Office)
13.    Thaddeus R. Shelly, III – Tiedemann Wealth Management (Top 50 Family Office)
14.    Sheila Barry Driscoll – President & Co-Founder– Billionaire Foundation (Foundation)
15.    Dan Smith – Neuberger Berman ($250B Asset Manager)
16.    James Cassel – Cassel Salpeter & Co.
17.    Aldo Palles – U.S. Trust (Top 50 Family Office)
18.    Davide Accomazzo – Thalassa Capital (RIA)
19.    Richard C. Wilson – Billionaire Family Office
20.    Russell Deakin – Providence Private Markets 
21.    Lorraine George-Harik – Founding Partner – HPM Partners ($1B+ Family Office)
22.    Trevor Neilson - Global Philanthropy Group & G2 Investment Group (Private Investment Firm)
23.    Eric Munson – NY Based Family Office (Single Family Office)
24.    Anthony Ritossa – Ritossa Olive Oil Family Office (Single Family Office)
25.    Gautam Mahtani – Customer Feedback Systems (Private Business Owner)
26.    Henley Smith – Vanderbilt Avenue Asset Management
27.    Basil Trikatzopoulos – Noah Capital (Single Family Office)
28.    Theodore O’Brien – Billionaire Family Office
29.    Richard Stone – Stone Family Office (Family Office)
30.    Howard Cooper – Cooper Family Office (Single Family Office)
31.    Michael Felman – MSF Capital Advisors (Family Office)
32.    Elliot Dornbusch – CV Advisors (Top-50 Family Office)
33.    Cliff Oberlin – Oberlin Wealth Partners ($1B+ Family Office)
34.    Charles Bennett Sachs – Private Wealth Counsel
35.    Peter Pell – CSM Capital Corp ($1B+ Family Office)
36.    Ira Perlmuter – T5 Equity Partners (Single Family Office)
37.    Paul Smith – NAPLIA
38.    Carol Pepper – Pepper International (Family Office)
39.    Mukang Cho – Morning Calm Management
40.    David Lindahl – The Lindahl Group
41.    Paul de Sousa – Bullion Management Group
42.    Dan Farrell – Privos Capital (Family Office)
43.    Cliff Oberlin – Oberlin Wealth Partners ($1B+ Family Office)
44.    Yvette Connor – Alvarez & Marsal
45.    Julio Gonzalez – Gonzalez Family Office (Family Office)
46.    Patrick Fisher – Promus Capital (Family Office)
47.    E. David Smith – Smith & Associates
48.    David Ratcliffe - U.S. Trust (Top 50 Family Office)
49.    Mark Banieweiz – Socius Family Office (Family Office)
50.    Sebastian Jano – Paradee Resources Company (Family Office)
51.    Jim Fried – Aztec Group
52.    Michael D’Onofrio – Engineered Tax Services
53.    Elie Rieder – Castle Lanterra Properties (Family Office)

See the full brochure for a list of everyone who is speaking, panels, and themes for each day of the Family Office Super Summit here: http://FamilyOffices.com/Super 

Looking forward to seeing you in Miami, 

Douglas Scott
Director
Family Office Club
212-729-5067
Team@FamilyOffices.com
77 Harbor Drive #76 
Key Biscayne FL 33149
http://FamilyOffices.com/Super

Only 15 Seats Left For August 6th Family Office CIO Summit - NYC

With just a few days until the Family Office CIO Summit, we wanted to make sure you had a chance to sign up.  Our friends from the Family Office Club only have a few more seats left for next week's full-day, catered event with 25 investors speaking, 200+ attendees and plenty of networking opportunities.  Join family office CIOs and investment executives on August 6th by registering here:
http://www.WilsonConferences.com/CIO

If you have any questions, give Douglas from the Family Office Club a call at (212) 729-5067 or email him at Doug@WilsonConferences.com, or use their chat service on their website:
http://www.WilsonConferences.com/CIO

27 Reasons Why the Smart Money is in Midtown NYC in 3 Weeks

Family office chief investment officers manage the assets for some of the wealthiest and most successful families in the world.  Our friends from the Family Office Club are hosting the Family Office CIO Summit on August 6th in midtown where CIOs at family offices and institutional investors discuss how they devise allocation strategies, manage risk, and evaluate fund managers.  Register today before the early-bird window closes on 7/24: http://FamilyOffices.com/CIO  

Here are 27 reasons why you need to be at this event:  

1. Candice Beaumont, L Investments (Single Family Office)
2. William Braman, Ballentine Partners (Top-50 Family Office)
3. Carol Pepper, Pepper International (Family Office)
4. Henley Smith, Oppenheimer & Co. ($25B Asset Manager)
5. Jonathan Bergman, TAG Associates (Top-50 Family Office)
6. Michael Sury, INDORUS Holdings (Single Family Office)
7. Robert Russell, Avenue Capital Group ($12B+ Investment Firm)
8. Neil Wolfson, SF Capital (Single Family Office)
9. Mark Berman, MB Family Advisors (Family Office)
10. John Jonson, Lyrical Partners ($1B+ Family Office)
11. Sergio Pedro, Jones Family Office (Single Family Office)
12. Douglas Getty, Abbot Downing (Top-50 Family Office)
13. Peter J. Pell, CSM Capital Corp. ($1B+ Family Office)
14. Irina Tanenbaum, The Juilliard School (Endowment Fund)
15. Ben Parr, DominateFund (Author and Venture Capitalist)
16. Leah Zveglich, Aster Family Advisors (Family Office)
17. Christina Conners, Greenway Family Office (Family Office)
18. Ted Seides, Protégé Partners ($2B+ Asset Manager)
19. Thaddeus R. Shelly III, Tiedemann Wealth Management (Top-50 Family Office)
20. Avi Gelboim, Scher Capital Management (Family Office)
21. Richard C. Wilson, Billionaire Family Office 
22. David Paige, Legal Fee Advisors 
23. Amish Jani, FirstMark Capital (Venture Capital Investor)
24. Matt Cohen, City Light Capital (Venture Capital Investor)
25. David Smith, Smith & Associates
26. Stewart Massey, Massey Quick (Family Office)
27. Alex Smith-Ryland, HedgeCoVest & CS Wilton Group (Hedge Fund Platform & Family Office)

To view the full agenda visit: http://WilsonConferences.com/CIO-Brochure.pdf   

Bonus: If you would like to attend the Real Estate Allocator Summit (Aug. 7th), also hosted by the Family Office Club, you can attend both events for only $1,395 – a savings of nearly $600. http://FamilyOffices.com/Real  

Early bird pricing ends Friday, 7/24 so register now to save before prices for this summit go up. If you have any questions give Douglas at the Family Office Club a call at (212) 729-5067 or sign up at http://FamilyOffices.com/CIO