How the 0.01% Diversifies

Рет қаралды 66,393

Күн бұрын

Пікірлер: 74

@maxsmart99 10 ай бұрын

I do my banking with a major Swiss bank for many years. They’re very good at what they do, not at all stuffy. They have clients who are famous sports stars, musicians, and of course, regular business people.

@Fenris__ 10 ай бұрын

and most importantly - they very aggressively take your money on every step you make you're basically a pinata, letting them hit you with a bat saying this as a lawyer working in private wealth management

@peanut0brain 10 ай бұрын

Can't trust swiss banks. They froze Russians bank accounts at the request of Biden

@jameswalker366 10 ай бұрын

And I bet you are paying over 1.5%+ in fees every year for the pleasure if you take the time to work out all the layers, custody, transaction fees, Swiss stamp duty, spread, FX, non-Swiss ISIN. It’s daylight robbery.

@peanut0brain 10 ай бұрын

@shaun3713 I came to China to associate with a "crappy" dictatorship . I seem fine lol😂

@thatisme3thatisme38 10 ай бұрын

Seems u may be paid by the Swiss bank lobby

@cwalenta656 10 ай бұрын

What's interesting about diversification is that it intuitively makes sense, meanwhile the cornerstone of market economies and free trade remains that we all get increasingly wealthy with increasing specialization. Indeed most people accumulate wealth, not all of course, by having a business, which, almost by definition, is the exactly opposite of diversification.

@justinbeghly1435 10 ай бұрын

Correct

@joshw7974 9 ай бұрын

I think that's the wrong way to look at it. Diversification isn't just about wealth accumulation. It's a safety net. Specialization is the money maker.

@adamselectricuniverse 10 ай бұрын

Hub Banking...great idea...find a bank that works as a "go between" to bridge the gap between the "stuffy" banks that don't want to deal directly with banks in the low tax jurisdictions, like the eastern Caribbean or investments in the frontier markets... a kind of tier A, B & C for banking. Thanks.

@deeteeemmsixtwotwo 10 ай бұрын

Andrew, have you read The Great Taking? What did you think of its ideas?

@thedude579 10 ай бұрын

30 years ago I found the local people in the Cook Islands not too friendly with us as foreigners. I had the impression, that they were jealous that we could leave any time but they had to stay in what we thought was paradise. The world is crazy and I hope it changed for the better for the locals there. Great deep sea fishing and having your "catch of the day" served at "Trader Jacks" was great. Piti that we did not get the huge mai mai in the boat that I had battled for 2 hours .....

@riptyurass302 2 ай бұрын

People in the Cook Islands are all NZ citizens... They have world class travel freedoms.

@chewie1382 10 ай бұрын

Thank you for this video. What you explain has a lot of common sense. Being on the ground, do local banking to do local investments is indeed the way to get the best ones.

@gracewalsh4908 10 ай бұрын

This video was excellent! 👍🏻👍🏻👍🏻

@Chaka2479 10 ай бұрын

Bitcoin is the answer! #BTC #Bitcoin

@derrick8224 10 ай бұрын

Absolutely agree

@Anythingforfreedom Ай бұрын

Beautiful video. Thank you

@ashok3733 10 ай бұрын

great stuff Andrew. I am looking to move my business from Germany to Singapore. Purely because my focus is based in South east Asia region and also the ease of business in Singapore.

@nickd9274 10 ай бұрын

No way new foreign clients are getting in on favorable PE deals

@CaliforniaHodges 10 ай бұрын

When renouncing, is the exit tax based on what I own personally? Or are they able to discover cash flowing assets in a land trust as well?

@michayng4105 2 ай бұрын

The reality is that most currencies lost value against the USD whenever the Fed decide to raise the interest rate. The long term trend is that USD perform better than most currencies. (Correct me if I'm wrong) As a result, you already lose your net worth if you diversify away from USD/ USD assets. There are only few exceptions, the best being Bitcoin.

@suzywilson 10 ай бұрын

Really appreciate the information! I can't stand banks that are not efficient. Just as a side note: I don't know who did your lighting setup for this video but it is absolutely stunning! Please pass along my appreciation.

@andrewjohnson5626 10 ай бұрын

People should boycott Swiss banks purely on the basis that Switzerland accommodate the WEF.

@markcrisp07 10 ай бұрын

The way I see it and i am sure many savvy investors do as well. "If it is advertised to the masses. IF they need a salesman to sell the investment..." AVOID

@ReducedEvasiveDetach 10 ай бұрын

Interesting.. nice touch on the asian markets. I generally just use an hsbc expat account and most of my investing is on IKBR. Granted some limitations but the main old school warren buffet stuff around dividends or vanguard etfs are covered there. I know Nomad was talking about to not put all your eggs inside HSBC's expat accounts but yeah working on that atm... (most likely they'll freeze stuff like they normally do but so far the support folks in that bank have been wonderful). I stay around in philippines (they have a territorial taxation system where as long as you don't make bank on filipinos/local populace or the local tourists you're fine)

@JessicaT10118 8 ай бұрын

I'm glad you've had good luck with them. Wiring funds with HSBC can be an absolute pain. I've probably just been unlucky lol

@MichaelGolpe 10 ай бұрын

Thanks!

@pixiet7321 10 ай бұрын

Thanks,Andrew.

@jwheeler9991 2 ай бұрын

Can you recommend services for us lesser mortals? Not many of us are going to have this earning capacity. And we will be the ones that truly suffer in all of this.

@davebellamy4867 2 ай бұрын

His lot are escaping and leaving the rest behind. It's possible to pick upideas about places and their legislative frameworks from here but maybe some more ordinary boots on the ground expat channels are more useful to us mere mortals.

@davebellamy4867 2 ай бұрын

You are 100% correct about who is going to suffer.

@ats7024 10 ай бұрын

Hello! Can you tell me what country easiest to open a normal bank account on online with a international ID?

@nomadcapitalist 10 ай бұрын

In this video we have covered them all, hope it helps: kzbin.info/www/bejne/foWuf4uboatric0

@ats7024 10 ай бұрын

@@nomadcapitalist I watch the video what you share me. I need a cheap cost checking account where I can sign up on online with my international ID card. Is there any bank can I open on online? Like as Monzo in UK, N26 in Ireland. I just mention here the example. I want to open a bank account online from abroad. I can show my international ID card for identity verification. Is there any cheap bank available can I open a account on online in the world? Please help me.

@Holdeenio 10 ай бұрын

@@ats7024use Revolut - allows a multitude of currencies.

@michaelheery6303 10 ай бұрын

@@nomadcapitalist we all knew about SINGAMORE yesrs ago..

@dassa0069 10 ай бұрын

Gold is totally manipulated.

@jdferris4 3 ай бұрын

All markets are manipulated.

@simonbackwash 9 ай бұрын

The Nomad individualist! 🎩👌🏻

@NigelDeForrest-Pearce-cv6ek 10 ай бұрын

Fascinating!!!

@maggie8586 10 ай бұрын

I thought this was about investment strategies, not banking.

@Tommy-h8v4h 10 ай бұрын

Hi. Do you guys have someone in your team that speaks norwegian?

@lkearney7299 9 ай бұрын

It's just a shame how much effort has to be undertaken to minimize the strangulation of taxes imposed by taxpayer funded governments.

@deepstatecia 2 ай бұрын

Most important is to only bank in countries that are nuclear powers. France, Israel, India, Iran and so on.

@beingnasser 10 ай бұрын

We'd like to see a collab between nomad and schiffgold...

@dilipchoudhary1652 10 ай бұрын

I want some passports and some properties. Money is no problem but suggest me a way. I am from a poor country India

@zlatkopodrug9437 10 ай бұрын

Or do something radical, simpler and very effective … look at Kinesis money, KMS.

@gIenfishbachelor3524 10 ай бұрын

Interesting

@KpxUrz5745 10 ай бұрын

If diversifying into fine art, I would start by discarding that crappy painting on the back wall, and find a better work of art.

@bighoss8793 10 ай бұрын

Andrew I have $100 in my account how do I diversify so I can become Uber wealthy?💰 I was thinking a Vietnamese ETF or a rice paddy or chickens. Hopefully by the end of the year I'll be driving a Rolls-Royce through Bangkok.

@davebellamy4867 2 ай бұрын

You need a time machine to take you back to 2011 to get that 100 bucks into Bitcoin at a few $ or less. Not investment advice!😂

@logicae4096 10 ай бұрын

Hmm, what about those with under 10M but over 5M?

@GG-ug9hd 10 ай бұрын

What do you think about Bank of China here in the US?

@tokenizegames 10 ай бұрын

imagine how big problems people with wealth ( the 1% ) have... having money diversified by country 😂 i dont have that issue. All my wealth is in #bitcoin. geographically replicated, transaparent, uncensorable, divisible, and most of all in my total control.

@albertinsinger7443 10 ай бұрын

I am a traders. Diversification is a thing of the past. Property is no longer that interesting as countries in the west have gotten smart to it and levy huge taxes, yearly and when you sell the property . On top of that maintenance. What the rich do is have one bank they negotiate with a very low fee . You can buy etf s from all the countries in the world through the New York stock exchange , so you do not need to open bank accounts in the countries you want to trade in. But as I said diversification is a thing from the past. Right now it is winner takes all.