MyPrivateBanking Blog
Daily Comments on the World of Wealth Management

Archive for March, 2011

Sneak Preview: Our New Private Banking Website Ranking

Monday, March 28th, 2011

Next week will see the publication of our new Private Banking Website Ranking. This is already the second (revised! enlarged!) version of our report “How Wealth Managers Can Win Clients Online”. Here is the link to the (old) first edition. For the new edition we have ranked and rated 40 banks and wealth managers on more than 50 criteria related to their online presence. And we can tell you already: We will see a new winner. And the top-3 banks come from three different countries on two continents. If you wish to receive the press release please send us a quick note via our contact form.


Buffett: Don’t Sell Japan

Monday, March 21st, 2011

Bloomberg reports:

“If I owned Japanese stocks, I would certainly not be selling them because of the events of the past 10 days or so,” said Buffett, speaking to reporters in the South Korean city of Daegu, where he arrived yesterday to attend a ceremony for a new factory being built by TaeguTec Ltd. “Something out of the blue like this, an extraordinary event, really creates a buying opportunity.”

I think Buffett is spot on. For Japan, this catastrophee does not change the long-term economic prospects. On the contrary, it may even be an opportunity to reform the political system and strengthen the unity of the Japanese population. There is also an interesting discussion going on about this topic in our discussion groups.


Charity: Should You Donate Aid to Japan?

Wednesday, March 16th, 2011

We have all seen the horrifying pictures from the quake and tsunami in Japan. Many affluent individuals are wondering whether it is a good idea to donate money to Japan helping out the victims.

Felix Salmon, a blogger at Reuters, says no: His main argument is that Japan is a wealthy nation and there are other, better causes on which the money would be much more effectively spent even though these causes get less public attention.

Tyler Cowen, an economics professor and blogger, says yes. He argues that with Japan the chance that the funds are usefully deployed are much higher than normally with aid. He also adds that it is not realistic to expect that people will donate to another cause instead of donating to Japan.

Both sides make valid points. On balance, I think Tyler Cowen’s point that people won’t give to a substitute makes the strongest argument.


Gaddafi’s Wealth, Revisited

Thursday, March 10th, 2011

In our last post we have asked ‘Where is Gaddafis’s money?’. Over the last few days governments around the world have started freezing his assets. You get some background here, here and here. It seems that governments are working more or less in concert on this issue. Yet it also seem that the Colonel from Libya has taken some precautions just before the violence started.

It remains to be seen what happens to Gaddafis’s assets when the war drags on or when he is able to overwhelm his opponents in Libya.