please envision that you have just joined a private banking division

Investment Project For your investment project, please envision that you have just joined the private banking division of a very large financial institution. Your job responsibility is to design investment portfolios for very rich clients. Your manager, a fabulous salesman, has just brought in five new clients, who are described below. Client 1: Ernest Stein. Ernest Stein is a successful New Haven business man, who owns three local businesses. He is 72 years old, is married, has 2 children, and 5 grandchildren. In addition to real estate that is worth approximately $7,000,000, his businesses are worth $2,000,000. Mr. Stein obtains a salary of $200,000 from these two businesses. The portfolio that he has entrusted to our firm is worth $5,000,000. Mr. Stein needs a modest income from the portfolio that approximates $50,000