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Podcast: The Meb Faber Show - Better Investing
Episode: #194 - Doug McCormick, HCI Equity Partners - I Generally Believe People Underestimate The Duration Of The Time That They Will Be Invested
Description: In episode 194 Meb and Doug kick off the conversation about thinking about a family as a business. Doug discusses the idea that people effectively have two businesses, selling labor in the marketplace, and converting income into financial assets. Doug expands on that by covering the family CFO framework, and that the job of the family CFO is much like a corporate CFO in that they must manage risk and liquidity with the family’s balance sheet. The pair also get into entrepreneurship and thinking about the role entrepreneurship can play in wealth generation.Meb and Doug then ge...