I have been thinking about what I should do for some time and I still have not come up with a conclusion. Of course my grandfather owned a part of a small firm in the city and I need to figure out whether or not I should retain it or try to sell it. I spoke to some people who wanted me to contact our accountants in Dublin for a quote on an appraisal. Obviously I am interested in the bottom line, specifically whether or not the offer that one of the partners made is sufficient. I have been thinking really hard about what I would do with the money if I made that deal, but I am really thinking that the offer is low. Obviously there are not going to be a whole lot of people who would be interested in the asset. The two people who already hold significant portions of the firm are obviously those who would be most interested. Neither of them has made a very impressive offer in my opinion, and I was hoping they would like to bid against each other.
The big question is what the income is going to be from this asset and how much the risk is going to be. It is really obvious that it is safer for me to divest and diversify. That way you are not at risk at losing everything at once. In this case the risk lies in the heirs to the other partners. They are going to do what they know how to do, but when they are succeeded by their children they may or may not be good at it. The truth is that I have seen a situation much like that and it ended with a real disaster for all of those concerned.