Indulge in your inner child - or channel Gordon Gehko from the movie Wall Street - and let out the greed. Diane Francis has a new book topping the best sellers' lists and it is about who has got the cash in Canada and who are the new ruling families. 60% are newcomers to Canadian shores but that will not come as a surprise to those in finance who get to see the passing parade of entrepreneurs.Perhaps, to reflect on national identity, John Loewen says, "the Canadian identity is not wrapped up in business success but more around what do you contribute to the community and that old fashion ideal of leading a decent life." The more American approach to business and drive to succeed is to be found amongst immigrant parents who limit TV time and curtail friends with the emphasise on homework and developing skills for the CV. If you play ping pong, you will do it with a coach and drill away at serves - not just for the fun of it.
Or perhaps the big families have removed their wealth from tax collectors' grasp to the Gurnsey Isles or Bermuda.
We will be giving Diane Francis's new book to the presenters at the Canadian Innovators Forum which will be discussing raising capital with private equity. The CEOs attending will be able to read the pages of those who have managed to make their fortunes here in Canada without a membership to that inner club. By the way, where is that inner club? I have asked Diane Francis to write the foreword to Money Magnet and will let you know how that goes.
