Behind the Balance Sheet #24 The Family Office CIO
Jul 20, 2023
Beth Lilly, a successful value investor, discusses compounding, research methods, and wealth management. Topics include inter-generational wealth, cash management, private equity, and auto dealership industry. Insights on investing, female investors, and passing on financial wisdom.
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3M Stock Gift
- Beth Lilly's grandparents gifted her 3M shares worth $70 as a child, sparking her interest in investing.
- These shares, held until today, now compound to $70,000, demonstrating the power of long-term investing.
Bar Tab Millionaires
- During the Great Depression, 3M employees used company stock to settle bar tabs due to its low value.
- This led to numerous millionaires in St. Paul, intriguing young Beth about the stock market's potential.
Kids' Stock Pitch
- Instead of directly giving stock, Beth gave her children $5,000 and tasked them with pitching stock investments.
- This approach encouraged them to research companies aligning with their interests, fostering financial literacy.