Welcome to our #248 weekly newsletter.

“For women taking control of their financial future”

-Jana Hlistova

From The Purse

In this week’s newsletter, we spotlight a short excerpt from the interview with Ozge Dogan on The Purse Podcast. Ozge is the Founder of Karman Beyond, Türkiye’s first independent multi-family office - democratising wealth management for families.

We focus on how women (and the next gen) lead on money decisions in a family office setting. In the podcast interview we also talk about the definition of wealth, what is a family office, generational wealth and the dynamics at play, women and money, sustainability and more+

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And you can review the news in brief so you stay on top of global financial, economic and investing trends.

I hope you enjoy this week’s newsletter.

Until next week,

Jana

How women and the Next Gen lead on money decisions

We interviewed Ozge Dogan, Founder of Karman Beyond to talk about generational wealth, how women and the next gen lead on money and how the world will benefit.

We interviewed Ozge Dogan on The Purse Podcast.

Ozge Dogan is the Founder of Karman Beyond, Türkiye’s first independent multi-family office - democratising wealth management for families.

We talk about the definition of wealth, what is a family office, generational wealth and the dynamics at play, the impact of women and the next gen leading on money decisions, sustainability and more+

Here is a short except from the interview:

Jana: “Yes…because we are seeing more women coming into this leadership role and making financial decisions or certainly engaging far more than than they used to. And there is a difference…when a woman leads a family office versus when she co-leads with a male family member.. versus when men are leading..”

Ozge’s response: (lightly edited for ease of reading)

Absolutely…the investment perspective is changing a lot.

There's more inclusivity and there's more diversification when a woman is leading the financial decisions. And also they tend to be more impactful because her decisions are more aligned to her values.

Women also consider who is going to benefit from these investments, therefore what she invests in is important; the type of companies they are, what they bring back to society.

And I think these are the really important concepts. Men, on the other hand, have historically focused just on the outcome.

Women are more interested in the journey and are more likely to consider the entire process, that is: what they invest in and how they do it.

Basically it is not just about making money or turning a profit. It's also about how are you making these profits and who is this going to benefit along the way?

So I think more women should be involved in financial decision making, in any business, in any family office, anywhere in the world, in any sector…

This really will change everything…

Listen to the full interview.

News in Brief

Financial news

* European markets recover as Bank of Japan (BoJ) calms markets. Bank of Japan deputy governor Shinichi Uchida’s speech – saying the BoJ would not hike rates when markets are unstable, has given a proverbial “green light” to carry traders to resume shorting the yen and buying higher-yielding currencies and assets.

* Rebound in tech stocks continues despite disappointing earnings from AirBnB and controversial earnings from Super Micro Computer (highest profile AI component stock after Nvidia). Nasdaq 100 Future +0.7% while ABNB -17% and SMCI -11%.

* US bond vigilantes managed to turn the stock market around. Investors shunned a $42bn auction of benchmark 10 year US securities, which drew a yield that was well above the pre-sale indicative level. That horrible bond auction pushed stocks lower.

* JP Morgan boosts US recession chance to 35% by the end of this year, up from 25% as of the start of last month. JP Morgan economists kept the odds of a recession by the second half of 2025 at 45%. Bank follows Goldman Sachs in raising risk of a downturn.

* UK house prices ‘to rise through rest of year’ after jump in July. Halifax says average property price in July was £291,268 as lower mortgage rates expected to lead growth.

Crypto: bitcoin, ethereum, DeFi

* Bitcoin was at one point trading below $50,000, after news of the US jobs market, the phenomenon dubbed the ‘carry trade’ coming undone when the Japanese yen started rising against the US dollar and tensions in the Middle East. BTC is currently trading at $61,150+.

* Ethereum was knocked harder by the early week volatility losing more than 12% over the last 7 days. ETH investors appear to be less loyal to the coin than Bitcoin or Solana, and therefore it’s prone to bigger sell-offs. ETH is currently trading at $2,666.

* Sui surged on news that crypto asset manager Grayscale was launching a fund for the asset. The coin has surged over 35% in seven days and is now priced at $0.87.

* Ripple, the company whose founders created XRP, had been ordered to pay a $125m fine to the Securities and Exchange Commission. Over a 30-day period the coin is up over 30%.

* Crypto.com, Gemini join Coinbase in opposing CFTC proposal that could ban prediction markets.

* Crypto executives meet White House officials to discuss policy, grievances during virtual roundtable.

The Purse Podcast

We cover the following on our conversation:

* The definition of wealth

* What is a family office?

* How have family offices evolved over the last 10 years?

* Generational wealth: the dynamics at play

* Female inheritors vs female founders

* The impact women and the next gen have on money decisions

* Succession planning

* Women and money

Please enjoy! Listen on Apple Podcasts and Spotify+

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* Young women are telling each other to ‘date rich’. How terrifyingly retro

* Women – don’t get larger, don’t get older, don’t have fun, don’t dare to wear a bikini

We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and janicka. We do no provide investment advice. Please do your own research or speak to a financial adviser.

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