In the first week of January before high school and college age students returned to school 41 students participated in a two day workshop on the responsibilities of wealth. Three partners at Nicholas Hoffman & Company plus six outside speakers lectured on subjecting ranging from budget & saving, credit card debt, investment markets 101, globalization and asset allocation techniques. Wealthy families share an enthusiasm and eagerness for education for educating their children and grandchildren about the basics of money and investment so that they are good stewards of their inheritance.
2010 was a year initially marked by wild swings in the global stock markets based on worrisome economic news. A roller coaster ride in the first quarter was followed by a significant sell off in the second quarter that had most investors seriously concerned that the US economy was headed for a double dip recession. Headlines were full of talk about a crisis that was meant to culminate in a “predicted” sell off of global stock markets in September 2010. With attention grabbing forecasts such as these, it’s little wonder that investors’ long term commitment to the markets was continually challenged.