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technique
Overnight Test
1 creator use or recommend it
▲ 1 active in the last 90 days
1 recommend
Last discussed Oct 15, 2026
A financial planning thought experiment where an advisor asks a client to imagine their asset (business, cabin, stock) was sold overnight and cash deposited in their account, then asks if they would buy it back — used to reveal true preferences about concentrated or legacy holdings.
Recently discussed in
When Keeping Your Options Open Is Riskier Than Making A Commitment - Kitces & Carl Ep 201
Carl Richards · Oct 15, 2026
The Temptation To Take On More Clients To Build (3X) Enterprise Value - Kitces & Carl Ep 198
Carl Richards · Sep 3, 2026
What creators say
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Carl Richards
recommends
Used for: Helping clients reassess concentrated stock positions, legacy assets like family cabins, and whether to continue owning/growing a business
Praised: Changes the default position so clients must take action to keep the asset ra...
"The overnight test — I use it with clients all the time, like concentrated stock positions, second homes, family cabins, legacy assets. Hey, let's pretend somebody sold that overnight. You woke up in the morning and the cash was in your account an..."
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