Investment Minimums

Investment Minimum is Not a Cover Charge For those of you young enough to be going to nightclubs, you know the allure of the hot club with a velvet rope blocking the entrance. Behind the rope lies excitement, mystery and happiness. After you pay the cover charge. Most of us have moved on from that… Continue reading Investment Minimums

The Cliffs Notes – Where To Invest

Where to Invest Michael Schmanske, Chief Investment Officer – AngelMD Based off a lenghier analysis coming in the next issue of MD Next magazine. In the next issue of MD Next magazine, I am going to lay out a historical review of macro economic trends from the 70s until now. Looking back will help us… Continue reading The Cliffs Notes – Where To Invest

Inflation is All About Monetary Policy – And Other Stuff Too

Inflation Is All About Monetary Policy – And Other Stuff Too by Michael SchmanskeChief Investment Officer, AngelMD “Inflation is always and everywhere a Monetary Phenomenon” – Milton Friedman For those of you who are not fanboys of Monetary theorists… Okay, just so you know, to a finance guy like me that kind of feels like… Continue reading Inflation is All About Monetary Policy – And Other Stuff Too

Value V Growth

Let’s talk about one of the most abused Stock classifications in public markets. Value vs. Growth stocks. Most investors are at least casually familiar with the terms. At its most basic, it is obvious. Utilities are Value stocks and speculative technology companies are growth stocks. But how do financial professionals classify them? And why is… Continue reading Value V Growth

The Funds Gap

The Funds Gap (part 2 of 2) by Michael Schmanske Consider the structure of an Institutional Asset Manager. They charge 2% on Assets Under Management (AUM). So a $250M fund generates $5M /year in fees. Operational and fundraising expenses take away ~ 40% of that leaving $3 million for compensation. An institutional PM doesn’t get… Continue reading The Funds Gap

The Funds & Funding Gap

Funds & The Funding Gap (Part 1 of 2)by Michael Schmanske Most successful startup founders have, or will become familiar with, the idea of the “Funding Gap”. It’s not complicated, but if you are an entrepreneur and are not familiar with the term you are either very lucky or still too early to know what’s… Continue reading The Funds & Funding Gap

Is Investing the Same As Betting?

In one of our blog posts from several years ago, we did a book review of Annie Duke’s book: Thinking in Bets. It’s a fascinating book in which Ms. Duke makes the case that all decisions are a form of a bet…probability. Seeking Alpha has a really well done new article called: If Investing Feels… Continue reading Is Investing the Same As Betting?

Made By We (“Fail Big” Cont.)

The We Work revisited story continues to get commentary given the massive investment made by Andreesen Horowitz. It’s true that Adam Neuman built a game-changing real estate business. They re-defined co-working spaces when the only real player had been sleepy Regus. They also raised extraordinary amounts of capital and convinced smart investors to value the… Continue reading Made By We (“Fail Big” Cont.)

Fail Big

“If you owe the bank $100, that is your problem. If you owe the bank $100 Million, that’s the bank’s problem.” – John Paul Getty On wall street there is a common series of humor. If you make a mistake and lose a couple million you get fired. But if you REALLY screw up and… Continue reading Fail Big

Managed Syndicates – The “Why” for Investors

Managed Syndicates for investors by Michael Schmanske Okay so we’ve covered “What are Managed Syndicates?” How about “WHY are Managed Syndicates?” For Investors in early stage startups you have a choice. Go alone or with a group. If you are a High Net Worth individual and have the liquidity to invest and manage investments with… Continue reading Managed Syndicates – The “Why” for Investors