This week Paul Kiker and I dive into an eye-opening discussion, sparked by David Rogers Webb’s insightful book, ‘The Great Taking.’
Remember the whole “you’ll own nothing (and be happy)” thing? Ever wonder how they planned to pull that off? Well, wonder no more.
“Ownership” used to be a really simple thing. You either owned something or you did not. Now? It’s not so easy. When it comes to financial assets you are usually merely a claimant with nebulous standing in a long chain of more senior claimants.
The revelation that owning a share in a company might not be as straightforward as it appears was both intriguing and unsettling. As I delved deeper, what I found was a gaping negative space in the conversation around ownership. Traditional understanding does not align with the legal reality. These shares, sitting in our brokerage accounts, are not quite ‘ours’ in the way we think. This disconnect between perception and legal truth is not just a trivial matter of wording; it’s a fundamental issue that affects how we manage and perceive our assets.
This week, find out what a financial professional thinks about the topic and what they are doing to responsibly ask the right questions and seek answers.
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