Forbes June 24, 2013

We called it the Summit in Omaha. Warren Buffett met with Jay-Z over cherry shakes at a local diner to talk about giving back. Last year came The FORBES 400 Summit on Philanthropy, a grander affair hosted by Buffett and Bill Gates at the New York Public Library. Only a few days ago we reconvened at the United Nations. Buffett and Gates were joined by U2’s Bono and Ted Turner. They led a full day’s exploration into ways to attack global poverty. In a digital world humans still like to meet face-to-face. The FORBES brand has the power to bring them together like no other. Here are some of our most recent events: The FORBES Women’s Summit: In a unique multigenerational event held in May, women holding traditional seats of…

TWO AREAS INVESTORS should pare back on are bonds and farmland. And regarding energy, be extremely careful. Bonds have been overpriced since 2008, but that doesn’t mean the bubble won’t eventually burst. Debt instruments have already taken a hit as the Federal Reserve hints that it will be scaling back its vacuuming of Treasurys and mortgage-backed bonds. Unless you have to do the bond dance (the only buyers, other than speculators, of long-term government paper are financial institutions that must have such securities for regulatory reasons)—don’t! Municipal bonds are in a different universe from corporates and Treasurys. Here the big risk is solvency. Unless you are an expert or have an advisor who is, go for well-diversified muni-bond funds with durations of under five years. Undermining the integrity of the…

Edible enlightenment from our eatery experts and colleagues Richard Nalley, Monie Begley, Randall Lane and Chef Jeff Lamperti, as well as brothers Bob, Kip and Tim. Maysville 17 West 26th St. (Tel.: 646-490-8240) This handsome, contemporary space serves some of the tastiest food around. Try the smoked whitefish mousse, the pulled pork sandwich with whiskey pickles, the grilled fish and celery root sandwich, or the butter lettuce with poached shrimp. Don’t pass on the barbecue-dusted potato chips. End with the sublime apple granité. Mr. Chow 324 East 57th St. (Tel.: 212-751-9030) This East Side classic is the timelessly elegant setting for fabulous Chinese fare. Order the Beijing duck and leave the rest up to the waiter. You’ll enjoy an assortment of delights and emerge without feeling bloated. We have not…

SANDRA BOTCHER VICE PRESIDENT, DISABILITY INCOME INSURANCE NORTHWESTERN MUTUAL If you were asked to identify your most valuable financial asset, what would you answer? Your home? Your investments? Your savings? If so, you’d be in good company. Yet none of those things are possible without income. “Income is our most valuable asset,” says Sandra Botcher, Vice President-Disability Income Insurance at Northwestern Mutual. “And it’s more important than ever to protect our ability to earn income.” Northwestern Mutual’s 2013 Planning and Progress Study illustrates the income pressure many continue to experience in this ever-changing economy. According to the study, Americans feel like they’re falling behind in their savings goals, and nearly a quarter of those surveyed said they’ve dipped into their retirement or savings in the past few years to tide…

How would you do putting all your money with people who have made themselves billions in investing? Several billionaires have publicly traded vehicles that anyone can buy into. Here’s how you would have fared purchasing them at the Mar. 9, 2009 postcrisis low and reinvesting dividends until now. The S&P 500 returned 167% over the period. Stephen Schwarzman THE BLACKSTONE GROUP The world’s largest private equity group, Blackstone went public about a year before the market meltdown. Its stock has been on a steady climb since the middle of 2012, and it has accelerated with the stock market in the latest rally. Carl Icahn ICAHN ENTERPRISES Corporate raider, eternal activist and Wall Street’s richest man, Icahn appears to be in his prime at 77 (see p. 18). The legendary investor…

THESE PRIVATE investors have gained billions since the market bottom in March 2009. Ray Dalio +$10 BILLION NET WORTH: $12.5 BILLION Chief of the world’s largest hedge fund outfit. His Bridgewater Associates’ assets more than doubled since 2009 to $150 billion. It now has billions invested in emerging-market ETFs. David Tepper +$5.8 BILLION NET WORTH: $7 BILLION Master of distressed debt investing. Has delivered 30% average annualized returns since launching his Appaloosa funds. Now betting on Citigroup and United Continental. FIGURES REFLECT THE CHANGE IN NET WORTH FROM MARCH 2009 TO MARCH 2013. SOURCES: INTERACTIVE DATA VIA FACTSET RESEARCH SYSTEMS; FORBES.…