Michel Del Buono
18 statements across 2 episodes · 5 bullish · 5 bearish · 1 people on the record · first statement Mar 27, 2026 by Michel Del Buono · said 5 times in 2 episodes since 2026 · across every show →
On the record as a speaker too: Michel Del Buono's record, appearances and statements → this page counts the times other people say the name.
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Mar 27, 2026
Mar 27, 2026 neutral
Del Buono: Institutional Asset Managers Do Not Optimize for After-Tax Returns
“Their pensions, endowments, foundations, sovereign wealth funds, all these people don't pay tax. So they are not at all focused on the taxable element. And if you're an individual you're paying, especially in this state you're paying 50 plus percent tax. So th…”
Mar 27, 2026 positive
a16z Perennial maintains higher liquidity for founders self-funding next companies
“If that's the goal, we try to keep the portfolio actually more liquid because their hope is that they can finance more of it themselves, right?
The idea is, well, I did my first company and by IPO I owned 15% of it.
The next time I want to own 30% of it, right…”
Mar 27, 2026 negative
Mar 27, 2026 negative
Del Buono: Putting initial founder liquidity into friends' startups almost always fails
“I'll see someone with their very first liquidity, the very, very first liquidity, they take it and instead of doing something a little bit safe in case there's a rainy day, they turn around and they go put it in a bunch of like very early stage startups.
Often…”
Mar 27, 2026
Mar 27, 2026 negative
Del Buono: Traditional Wealth Managers Are Trained Service Providers, Not Investors
“Most of these firms, the independent firms have spun out of banks and the banks themselves don't train people to be professional investors, right? These people are trained to be service providers. They're trained to be responsive. They're trained to be helpful…”
Mar 27, 2026
Del Buono: Perennial targets centi-millionaires and billionaires with $25M-$50M minimum
“25, fifty million dollars would kind of be the minimum, really, but I would say it's really more for the centi-millionaires and billionaires who have, again, you know, an institutional time, multi-generational time horizon, so they're more like an endowment th…”
Mar 27, 2026 positive
Del Buono: Portfolios with 50-70% alternatives incur 3-4% annual look-through fees
“50, 60, 70% alternatives. On a look through basis, your fees are going to be three or four percent a year. So it's a huge headwind. If you can get rid of some of that by having a professional team in house and not always just hiring third party managers that c…”
Mar 27, 2026 neutral
Del Buono: Post-exit founders completely leaving their companies is the exception
“A lot of founders, though I think want to stick with their company very, very long term.
They're not necessarily thinking, you know, two years out, I'm done.
they want to stay along.
I mean, this is their baby.
They know it.
They've grown it.
So it's not nece…”
Mar 27, 2026 negative
Del Buono: Wealth managers charge AUM fees for services because it is more profitable
“So these services, in my opinion, should be fee for service. But because that's of course less profitable than having an AUM based fee on someone's entire balance sheet you charge that fee, you go through the motions of the investment management, but you view …”
Mar 27, 2026 negative
Del Buono: Flat Fee RIA Structures Disincentivize Alternative Investment Strategies
“The flat fee arrangement You know, means that people do not invest in building out these alternative teams. It's a lot of work, it's a lot of effort, and it's a lot of expense. And if you make the same 40, 50, 60 bips doing that, or just buying stocks and bond…”
May 22, 2026 positive
Del Buono: Donor-Advised Funds Separate Tax Timing From Philanthropic Decisions
“The beauty of the donor advised fund is that you can sort of detach your decision when to give with your decision of when to sort of tax optimize, right?
So you can donate things into a DAF and immediately get a tax benefit, but if you're young and still worki…”
May 22, 2026
May 22, 2026 neutral
Del Buono: In private investing, signed contracts override notions of fairness
“Whenever you're doing a private investment, the contract you know, you're sort of excluded from the regulatory oversight by saying that it's a special contract only for qualified people that don't, that meet certain income thresholds. So those contracts are cu…”
May 22, 2026 positive
Del Buono: Pre-Liquidity Planning Rests on Trusts, Tax Investments, and Philanthropy
“So there's kind of three elements
To preparing yourself for a liquidity event, right?
Structuring your trust and estate, thinking about how to sort of make key investments that help offset taxes to some degree, and then donating into a donor advice fund or som…”
May 22, 2026 neutral
May 22, 2026 positive
Real asset depreciation and basis step-up can completely shield generational taxes
“If structured properly, you can offset Almost all the income from the property. And then because of something called a step up in basis, a death when you sell that asset after you pass away, you don't owe tax on that either. So you, along the way, all the inco…”