BigBlueSoapbox.jpg What’s the Value of Something You Love?

What’s the Value of Something You Love?

‘We could buy you a new shark, tank, and some formaldehyde for a couple hundred thousand dollars — so that’s all we’re going to insure it for.’

Attorney Ralph Lerner’s palms began to sweat.

His client had just bought Damien Hirst’s dead shark in a tank of formaldehyde — titled The Physical Impossibility of Death in the Mind of Someone Living –for more than twenty times that amount. By the time Mr. Lerner left his insurance company meeting the company’s rep had agreed to insure the shark for more than twice the purchase price. He told the story as part of the Tigres Group’s Art Revealed event at the Levin Institute last March.

How do you figure out how much something is worth and if it will it be worth more tomorrow than today? Lots of companies try to answer such questions, but I like my friend — and client — Jacqui Maduneme’s approach better.

For the last few months I have been working with Jacqui to help her create the Tigres Group.  The company seeks to help high net worth individuals become the masters of their financial futures. What I love about her approach is that she knows that managing money can be a mind-numbing bore and so works to keep everything they do both engaging and enlightening. Hard to complain about that!  What’s better is that neuroscience studies indicate that such an approach is more likely to be successful.  So what they do is more like to be both fun and effective.  Pretty cool!

Ms. Maduneme knows that money itself cannot buy happiness — it has no meaning in itself.  It has no life in a vault or as figures on a screen. It’s what you can do with it that makes money meaningful. Even if, for some, that means buying a fifteen million dollar shark in a box.

I’m particularly looking forward to event next fall Investing in Broadway: For Love … and Money.  I’ll post more information as the date and venue are finalized.

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