FYI: A private investor was musing about the curse of inherited wealth. It does the heir no good, he said over scrambled eggs and bacon the other day—quite the contrary. And it’s just as bad for the hedge fund in which the accidental rich person chooses to invest temporarily.
And make no mistake, said the man, who declines the honor of being named, it’s going to be temporary. Money is proverbially a coward; inherited money is afraid of its own shadow.
The people who have it know all too well that they did nothing to earn it. Maybe they’re guilty about that, or maybe not. But that is not the reason he counts them among the worst clients who ever darkened his door.
Regards,
Ted
https://www.barrons.com/articles/why-heirs-are-the-worst-kind-of-investment-clients-51550252050?mod=djem_b_Weekly Feed for Barrons Magazine
