Insights

November 2, 2021

Getting to Know Michael Sayman: App Kid Extraordinaire

In the depths of the Great Recession, 13-year-old Michael Sayman took it on himself to step up and do what he could to support his family. One year and countless online coding tutorials later, he launched an iPhone app that was raking in thousands of dollars a month. That was just the beginning of his adventure in app development. While still in high school, Sayman developed the gaming app 4 Snaps, which reached the number one spot on the world games chart. That led to a job as Facebook’s youngest employee in history. From there (still only age 21), he went to work for Google as a Project Manager for the voice-based service, Assistant. Today, Sayman has returned to his gaming roots as a Senior Product Manager and Designer for Roblox.

On November 10, Sayman will join Cresset for an exclusive online event where he will share his incredible journey through the world of app development as told in his new memoir, “App Kid: How a Child of Immigrants Grabbed a Piece of the American Dream.”

October 7, 2021

Interest Rates to Rise, but How High Is Up?

Equity investors are looking forward to Q4, hoping it plays out better than last quarter. Beset by a Delta variant flareup, consumer spending sagged, leading most markets lower. The S&P 500 fell nearly five per cent in September and limped through Q3 flat, in essence. Large caps finished the first nine months of the year nearly 16 per cent higher.

October 1, 2021

CEO Founders: How To Defer Taxes When Selling A Business

The genesis behind the Opportunity Zone legislation traces back to an unlikely cohort of bipartisan lawmakers, conservatives and young philanthropic multi-billionaires. The engine behind the idea was Sean Parker, of Napster fame, the original president of Facebook, who a decade earlier approached a few senators from the states with the largest concentration of run-down neighborhoods and highest inner-city poverty rates.

October 1, 2021

CEO Founders: Do You Need a Family Office? 5 Questions to Ask Yourself

As a CEO Founder, you’ve likely been so focused on growing your business and taking care of your team that your own finances and wealth planning have been pushed to the back burner. I can certainly relate to that. Before launching Cresset, I spent decades building successful businesses but found little time to take care of my own increasingly complex financial needs.

September 30, 2021

Cresset Merges with Berman Capital Advisors, Creating $20 Billion Multi-Family Office

Chicago – Sep 28, 2021Cresset Asset Management, LLC (“Cresset”) and Berman Capital Advisors (“Berman”) announced today that they plan to merge, creating a $20 billion multi-family office serving clients from offices in 11 markets around the country. This partnership will significantly add to Cresset’s existing team in the Atlanta region. The merger is expected to be complete on September 30, 2021.

September 29, 2021

The Impact of China’s Slowing Economy

Real estate bubbles are pernicious problems for advanced economies because they often involve outsized levels of debt. When they pop, financial crises ensue, prompting lenders to withdraw credit for fear of insolvency. History is littered with real estate bubbles and busts. One notorious example was Japan’s land bubble of the late 1980s. Between 1956 and 1986, Japan’s land prices skyrocketed by as much as 5,000 per cent.

September 22, 2021

Evergrande’s Debt Turmoil in Perspective

Evergrande, China’s largest property developer, missed interest payments to at least two of its largest bank creditors earlier this week, and appears to have averted defaulting on domestic bond payments due on Thursday (tomorrow). News of the troubled conglomerate, which has more than $300 billion of liabilities, rocked Chinese equities and sent shockwaves through global markets…