The investment community is wrestling with the market’s current challenges of being overvalued, with inflation increasing rapidly, and with speculative activity at levels rarely seen over the last 30 years. Nothing is being mentioned about the increasing geopolitical risks. If we are not careful, the United States may be facing a decline, similar to great dynasties of the past, due to our wealth, comfort, and investors’ complacency. Intelligent Investors will keep a wary eye on the world’s developments beyond our shores.

Strategic Philanthropy (SP) has increased in recent decades–particularly among families who wish to leave behind a legacy. As more dynastic families opt to make a greater impact with their fortunes, the old way of passing down assets is evolving in a few ways.

The Giving Pledge, https://givingpledge.org/, started by Bill Gates and Warren Buffett, began recruiting members in 2010. As of May 2019, 204 individuals and couples are participating.