Greetings. I am a fund manager, investing $500 million from an office near Newport Beach, Calif. And as I finish editing this piece, the sun is shining, I am wearing shorts, and U.S. stocks look blessedly cheap.
Not everyone is so fortunate, though, so what I really want to tell you about is philanthropy, an area far more difficult to excel in than stock picking. Yes, yes, I know— it may sound like a tired cliché of our gilded age: A man gets rich off of our inequitable economic system and, in a fit of conscience, decides to give some of it away. And worse, now he wants to tell you about it.