Insights
Working notes on patrimonial structure, private markets, and financial infrastructure. Published when there is something to say.
09The Crypto System as Institutional Infrastructure
Crypto is no longer marginal. Today it is infrastructure — with very different degrees of institutional quality. The question is no longer whether to participate, but with what criteria.
08The Great Transfer: Succession as the Final Exam of Wealth
More family wealth will be transferred in the next decade than in any previous period. That moment does not reward the size of the estate. It rewards its structure.
07The Family Office That Actually Has a Plan
Only 35% of family offices worldwide have a defined succession plan. That figure says more about the fragility of sophisticated capital than any bear market.
06Private Capital in Times of Fragmentation
In a fragmented world, capital does not seek only return. It seeks where it can move, explain itself, and remain acceptable.
05Private Markets and Secondaries: The New Liquidity
Illiquidity is no longer a fixed condition. In private markets, liquidity is now designed, negotiated, and managed.
04Technological Liquidity: The SpaceX Case
SpaceX is not publicly listed, but it can be sold. That paradox defines today's advanced venture capital market.
03Stablecoins: The New Operational Dollar
The serious conversation about stablecoins does not begin with speculation. It begins with payments, liquidity, treasury management, compliance, and banking acceptability.
02Wealth Is No Longer Measured Only by Assets
The true threshold of sophisticated capital is not how much one holds, but how it is organized, protected, and prepared to survive time.
01The New Wealth Advisor
The wealth advisor who will have value in the coming years will not be the one who knows the most products. It will be the one who best understands how to order decisions.