Whether or not you’re an investor, there’s admittedly a lot you could be worrying about in 2016—and I’m not just talking about terrorism.
The sources of possible future calamity, depending on whom you ask, include a recession—either the global or domestic variety—global warming and the outcome of a wild, new reality TV show called the U.S. presidential race.
Given the weight of these issues, not to mention the spectacle of GOP presidential hopefuls arguing over the size of their manhood on national TV, our cover story about the threat of data theft may seem trite.
But I do hope family offices take notice, because cybercrime is one of those under-the-radar realities that can seriously damage a business that isn’t diligent about protecting its data. In fact, Leila Boulton’s story gives us the startling example of one family office that was forced to close shop after the theft of an executive’s laptop.
As Boulton notes, data security means more than calling in computer consultants and putting up a server firewall. Hackers know how to work around software security, sometimes through a simple phone call. Or, in the case of the bankrupt family office, camping out in a luxury airport lounge and waiting for a well-dressed business traveler to leave his laptop unattended.
Thankfully, the spring 2016 issue of Private Wealth is not entirely about how to avoid impending doom. We also have Thomas Kostigen reporting from New Mexico, where Ted Turner is in the process of opening up more than 1 million acres of his unspoiled ranchland to the public.
The billionaire, who has avoided the spotlight in recent years, says his aim is to share the beauty of the three large tracts in a way that will allow for the continued conservation of the land.
Finally, we put the art world under scrutiny, as Michael Fischer and Chris Robbins each offer stories on the hazards of investing in artwork. They note such investments are not for the inexperienced.
It’s also a lot riskier than many investors realize. When you get right down to it, they point out, the appeal of art sometimes comes down to whim, taste and being put on display at the right place and at the right time.
Come to think of it, maybe the same could be said of presidential candidates.
