Selling Your Business

Name: Selling Your Business | The Transition from Entrepreneur to Investor
Brand: Wiley
Price: 30.99 EUR
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The Transition from Entrepreneur to Investor

Louis P. Crosier(Autor*in)

Wiley (Verlag)

Erschienen am 1. Juni 2004

336 Seiten

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Inhalt

Intro
SELLING YOUR BUSINESS The Transition from Entrepreneur to Investor
Contents
Foreword
Introduction
Part I Before Selling Your Business
Chapter 1 Pre-IPO/Presale Planning
Setting the Stage
Choosing a Business Structure
Building a Professional Service Team
Obtaining Financing
Sharing Ownership with Employees
Company Benefits and Policies
Conclusion
Chapter 2 Trust and Estate Basics
Basic Wealth Transfer Tools
Presale and Pre-IPO Planning
Complex Wealth Transfer and Estate Planning Issues
Summary
Chapter 3 Life Insurance: From the Basics to the Advanced
Permanent Insurance
Term Insurance
What Product Is Best?
Buying Term and Investing the Difference, but in a Tax-Advantaged Manner
How Your Money Gets Invested
Expenses
Assessing Cash Value During Lifetime
Selecting the Right Premium Amount
Selecting the Right Premium Payer
Who Should Own the Insurance?
Who Should Be Insured?
Conclusion
Chapter 4 Negotiating the Deal
Sell Your Company Right
An Open Selling Process
A Closed Selling Process
Paying Bidders to Play
Right of First Refusal
Right of First Offer
An Offer You Can't Refuse
Professional Help
Earn-Outs
Earn-Ins
Commonly Mistaken Assumptions
Sale or IPO?
The IPO Route
Selling Rather Than Going Public
Sale for Cash or Stock
Conclusion
Part II After Selling Your Business
Chapter 5 How Your Life Changes: Psychology of a Windfall
Impact of the Sale on the Entrepreneur
Impact of Wealth on the Entire Family
Conclusion
Chapter 6 Overview of the Wealth Management Industry
Investment Office
One-Stop Shop
Hybrid
How to Evaluate Wealth Management Firms
Chapter 7 Managing Concentrated and Restricted Stock Positions
Restricted Stock and Equity Risk Management
Definitions and Examples
Public Policy and Rule 144 of the Securities Act of 1933
Registration Rights
Hedging and Taxation
Derivative Strategies
Nonderivative Strategies
Negotiating with Broker-Dealers and Finding the Best Counterparty
Philanthropic Strategies
Professional Advice
Chapter 8 Asset Allocation
Conclusion
Chapter 9 Developing an Investment Policy Statement
Investment Objectives
Spending Guidelines
Asset Allocation
Rebalancing
Manager Selection and Evaluation
Limitations and Restrictions
Communication and Reporting
Summary
Sample Statement of Investment Objectives, Goals, and Policy Guidelines
Part III Investing for the Long Term
Chapter 10 Selecting Investment Managers
Active or Passive?
Four Ps
People and Organization
Portfolios
Performance
Summary
Chapter 11 Risk: How Much Should You Take?
Risks of Specific Asset Classes
Market Timing
Measuring Risk
Risk-Adjusted Returns
Tax Risk
How Do You Minimize Risk?
How Do You Maximize Return While Minimizing Risk?
Time and Risk
The Psychology of Risk
How Much Risk Should You Take?
Chapter 12 Fixed Income
Municipal Market Inefficiencies
Portfolio Consstruction
Duration-A Portfolio's Sensitivity to Changes in Interest Rates
Ladders versus Barbells
Credit Quality and Default Risk
Ratings and Bond Insurance
Pre-Refunded/Escrowed Municipal Bonds
High-Yield Municipal Bonds
Premium versus Discount Bonds
Call (Early Redemption)
Conclusion
Chapter 13 Global Investing
Theoretical Benefits of Non-U.S. Investing
Forces of Globalization
American Depository Receipts versus Local Stocks
Diversification and Returns
Opportunity Set
Global Mandates
Currency
Selecting Managers
Conclusion
Chapter 14 Real Estate
Why Invest in Real Estate?
Real Estate Asset Classes
Real Estate Investment Options
Conclusion
Chapter 15 Private Equity
Types of Private Equity Investments
Who Will Invest My Money?
Common Terms and Conditions
Portfolio Example
Conclusion
Chapter 16 Hedge Funds
Industry Characteristics and Background
Different Types of Hedge Fund Strategies
Risk-Adjusted Rates of Return Among Hedge Fund Strategies
Variability of Returns Among Hedge Fund Strategies
Why Invest in Hedge Funds?
How to Think About Incorporating Hedge Funds into a Portfolio
How to Invest in Hedge Funds: Funds of Funds versus Individual Managers
What to Look for in a Hedge Fund Manager
Conclusion
Chapter 17 Performance
Single-Period Return Calculations
Multiperiod Return Calculations
Comparing Portfolio Returns
Composite Performance
Adjusting Returns for Risk
Estimating Risk-Adjusted Return
Comparative Evaluation of Investment Performance
Chapter 18 Ongoing Management and Accountability
Range of Structures for Ongoing Management
Basic Monitoring Criteria for External Providers
Reviewing Your Provider's Peformance over Time
Provider-Specific Issues to Watch
Summary
Part IV Philanthropy
Chapter 19 Philanthropy and the Venturesome Donor
Why Give?
Getting Started-Some Definitions
Getting Started-The Advisor's Role
Getting Started-Some Questions
Giving Well-Qualities of Effective Philanthropy
Vehicles for Giving
Direct Gifts
Conclusion
Conclusion-Getting It Right: The Key Decisions You Will Make
Index

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