This month we discuss who we serve and why, more on ESG investing, and movies that are really about creative process. We hope you’ll enjoy!
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Why we serve creatives
At Modernist, we are dedicated to helping creative inheritors, entrepreneurs and retirees structure their wealth around their progressive values. Yet, when we share our mission with others in the financial industry, we often hear the same questions: “Aren't creatives terrible with money?” or “Aren’t they all broke?”
The financial industry forgets, somehow, that creatives are primary progenitors of intellectual property, which in turn produces extraordinary financial value. Someone has to invent, design, and make the luxury goods that stoke our consumerist desires: the cars, watches, gadgets, music, films, clothes, houses. This NEA study also shows that copyright-intensive industries contribute $869 billion to GDP, 50% of that is from the arts sector!
Like most of us, Financial Advisors, CFPs, CPAs, and lawyers aren't aware of their internal biases against creatives and visionaries, let alone women, LGBTQ folks, or people of color.
We believe there is a better way - click here to read Georgia’s full essay on LinkedIn.
Movies that are really about creative genius
Speaking of creatives, Glenn Gould is one of Georgia's favorites. He was a genius interpreter of Bach, a proud Canadian, and obsessed with the emerging high-fidelity technology of his time (among many other things).
The brilliant film 32 Short Films about Glenn Gould gives us a comprehensive view into his idiosyncratic mind. In the clip below, Film 15 – Truck Stop, we see Gould in a diner ordering breakfast, which leads to a moment of creative insight, which then leads to his invention of a new form of radio documentary.
Follow up by listening to the Solitude Trilogy or watch Gould record a portion of it in Film 16 - The Idea of North. Georgia also recommends his versions of the Goldberg Variations (1955 and 1981), two of the most renowned Bach recordings.
Last month our Director of Operations, Liliya Jones, shared some thoughts on the values-based (ESG) investing trend in a LinkedIn article:
At Modernist, we think the current iteration of ESG investing is a luxury good. If like most people, you are concerned about having enough savings for retirement, you probably want to make sure you capture the highest possible returns. Thus, you may be wary of taking a risk on a new investment style with limited historical data. But if you are lucky enough to have financial planning goals that are well-funded, your underlying portfolio design is sound, and you can afford to take a bit more risk - go for it. Click here to read the rest of Liliya's essay!
Modernist webinar: Q1 2017 investment insights
We will hold our next webinar on May 10th at 12:00 PM!
We will discuss last quarter's asset-class performance: across the globe, as well as by company size and style. We will also dive into our passive investment approach.
We hope you will join us! Click here to register.