This week, Doug and Greg discuss the confusing state of today’s economy, their predictions for economic growth and recovery years down the line, how the Feds can successfully avoid an economic recession, which parts of today’s inflation might stick around, and what you can control financially in a time of mass financial uncertainty.

Key Takeaways

Quotes

[04:45] - “The economy and the markets are two distinct things. The economy might be in a situation where it’s in a recession but the markets typically are forward-looking.” ~ Greg Stokes

[15:20] - “If [the Feds] can somehow figure out a way to have a soft landing, which is what they’re trying to do by slowing down the economy, slowing down spending without causing a recession, I think that would be a pretty admirable result.” ~ Greg Stokes

[19:51] - “If you’re not confused about what’s going on in the economy right now, then you really don’t know anything about economics is a way to think about it. Because this is a completely unprecedented period.” ~ Doug Stokes

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

This week, Doug and Greg discuss how consumers and big business are responding to sky-high inflation, which income bracket is struggling the hardest and which brands are selling out faster, the bright side to a recession in vibes, why midterms matter, and why despite it all, the market is up. 

Key Takeaways

Quotes

[10:00] - “Things are bad, but the market ebbs and flows and generally overcorrects on the downside and overcorrects on the upside, and people that stick with a game plan end up working out.” ~ Doug Stokes

[10:16] - “One of our clients told me one time that things are never as good or as bad as they seem. And you’re right, things have seemed very bad lately.” ~ Greg Stokes

[13:39] - “I’m optimistic on the future and I think that if you extend your time or horizon long enough and if you look at prior data after the declines that we’ve seen recently, usually it’s a setup for a positive outlook going forward.” ~ Doug Stokes

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

This week, Richard Chen talks with Doug and Greg Stokes about overcoming obstacles and becoming a successful attorney, what the ultimate value-add is for both Rich and the advisors he serves, what prompted Rich to launch his own firm, and how Rich experiences life to the fullest without eyesight. 

Key Takeaways

Quotes

[03:34] - “It’s a real privilege to be able to serve RIAs and to really help them grow their business.” ~ Richard Chen

[07:11] - “To this day I can’t recall ever thinking, ‘I can’t do this.’” ~ Richard Chen

[15:42] - “Life is too short to focus on what you can’t do and what you can’t experience. There are so many things out there to experience that it’s better just to look forward to what you can do and the possibilities out there.” ~ Richard Chen

[20:11] - “Humility is so important because there’s always something we can learn from everybody. I always try to take that attitude.”~ Richard Chen

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

This week, Doug Stokes and Greg Stokes discuss the state of corporate America, why stock-based investors should treat dividends like rent, the fluctuation of global currency, and why the Federal Reserve is stoking your recession-based fears. 

Key Takeaways

Quotes

[02:06] - “If you were a real estate investor, even though the value of your property was down you probably didn’t know it. If your rents were up 14% over the last twelve months – you wouldn’t really care what the actual value of the property was. The same thing should apply to stock-based investing. In the case of dividends appreciating by 14%, even though the value has fluctuated, and fluctuated negatively, over the last twelve months, your ‘rents’ or your dividends are up 14%. ” ~ Greg Stokes

[04:45] - “In essence, if you buy in great companies that have pricing power and are able to pass through increased costs to their customers and then increase the dividends paid to you, that’s something to treat like a piece of property and collect your rents, your increased rents, year over year.” ~ Doug Stokes

[11:29] - “Whether there’s a recession or not, it seems like the best place to be is in the U.S. markets currently. We’re actually seeing that in currency movements.” ~ Doug Stokes

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

This week, Doug Stokes and Greg Stokes discuss the unique and successful American experiment, what’s going on with the U.S. housing market, when inflation will eventually end, and what they believe is an even bigger issue than inflation itself. 

Key Takeaways

Quotes

[13:18] - “The last major recession was a housing-led recession and a housing crisis which led to a global financial crisis. And I think people are looking for the same signs of cracks in the system in housing and I don’t think that’s necessarily the case. I think this is probably a manufactured slowdown in housing.” ~ Doug Stokes

[17:29] “I really don’t see high inflation for long periods of time. I’m not considering that as a high probability outcome although it could be the case. I think the more scary situation is that the federal reserve overshoots its raising rates to the point where it pushes the economy into a recession.” ~ Doug Stokes

[18:55] ~ “The comforting thing to me is that it will eventually end. This market will eventually turn into a bull market and I think that there are some psychological aspects to it as well that I think are promising. But also from just a historical timing standpoint, the average bear market lasts about six months.” ~ Greg Stokes

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

In 2008, as a recession raged on in America, Jonathan Shafer believed it was time to make a difference elsewhere. After meeting a family searching for someone to launch an investment strategy company in West Africa, Jonathan jumped on the opportunity. Planning to be in Africa for only one year, Jonathan and his family ended up staying for seven years.

Despite its challenges, Jonathan saw tremendous opportunity in Africa, both financially and through humanitarian work. Given that 600 million people in Africa don’t have access to power, investing in renewable energy became Jonathan’s primary focus, creating flourishing financial returns as well as a powerful impact on the lives of native civilians. 

Today, Jonathan’s efforts in Africa total more than $215 million of invested capital, and include ventures such as Fortis Green Renewables, a firm investing in renewable energy assets throughout Sub-Saharan Africa, and CommonGood Capital, a financial services company focused on global values-based investments.

In this episode, Jonathan talks with Doug and Greg about why Africa has incredible opportunities for both financial investments and powerful humanitarian change, the impact alternative power sources can have on the quality of life in Africa, the risks of developing hydropower in Africa versus elsewhere, and what life is like in Kigali, Rwanda. 

Key Takeaways

Quotes

[04:05] - “It was really this desire back in 2008 to use my skill set to make a difference in the world. How do I use the talents that I have and the skills that I’ve acquired to not just go build orphanages and not just go build schools, but how do we use business as a tool to really make an impact on people’s lives?” ~ Jonathan Shafer

[32:43] - “When we look at the world, when we look at emerging markets in terms of where do we think the most potential for long-term growth is, we look at Africa. I think the challenge is you have to pick those segments of the market at the right time.” ~ Jonathan Shafer

[34:48] - “I have very little, let’s just say no interest,  in making money for the sake of making money. Money is important. Money matters. But, for me personally, I only want to be involved with things that a) make money, that’s a given, but then have the potential to have a positive impact on people’s lives.” ~ Jonathan Shafer

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

The happiness and contentment we feel surrounding money doesn’t end with the number in our bank account. Take it from Brian Portnoy, founder of Shaping Wealth, a financial wellness company that helps clients make smarter financial moves. Brian understands the psychology behind financial decisions as much as he does the strategy behind investment.

For instance, as human beings, we instinctively compare ourselves to others, seeking comfort in status and discomfort when our social media is flooded with 18-year-old billionaires rich off crypto. But how can we learn to mute the comparison triggers all around us? And why do growth-focused goals keep us grounded? 

Brian talks with Doug and Greg about navigating the comparison landscape, why money is still taboo, why unlimited freedom has led to increased paralysis, and the difference between being rich and being wealthy.

Key Takeaways

Quotes

[06:12] - “There’s a quote I love from J.P. Morgan, the original John Pierpont Morgan from whatever it was 100 years ago, where he said, ‘Nothing corrupts your financial judgment more than the sight of your neighbor getting rich.’ It wasn’t that long ago that your neighbor was the guy across the street. Now your neighbor is every person on Facebook and TikTok and Snap and LinkedIn and Twitter. Everybody is everybody’s neighbor and we’re going a little bit bonkers with it.” ~ @brianportnoy 

[16:26] - “What goals do from a negative perspective is they tee us up for emotional disappointment. Because no matter how good, or frankly how bad, a particular outcome is, we tend to revert to type, and then we say, ‘what’s next?’ Because we are foundationally growth-oriented creatures. And wherever we get, we want to get further.”  ~ @brianportnoy 

[22:21] - “I think what anyone can do to figure out where money fits into a meaningful life and have those goals be more emotionally resonant, is to think about purpose, is to think about meaning.” ~ @brianportnoy 

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

After spending years going through a tough academic program, one dissertation away from achieving a degree, Wes Gray chose to take a step back and join the Marine Corps. Following five years of service, Wes finished his degree at The University of Chicago, studying under the acclaimed Eugene Fama.

While working as a professor, a cold call from a billionaire in New York prompted Wes to begin moonlighting as an internal due diligence agent. That decision to take on a second job became his inspiration for Alpha Architect – an asset management firm committed to empowering investors through education. 

In this episode, Wes talks with Doug and Greg about why Alpha Architect is abnormal, the method to their madness, how Wes challenged Eugene Fama (and nearly won), how Alpha Architect is responding to today’s volatile markets, and what the future looks like for value investors. 

Key Takeaways

Quotes

[27:14] - “One of the problems with the financial services industry is, the best idea, the best strategy in the world, can always be ruined by fees and taxes. And so, you can have a lot of excess returns, but if you give it all up in fees and taxes, what was the point?” ~ Wes Gray

[31:08] - “No matter how you cut it, the valuation of value stocks is the cheapest it’s ever been relative to the valuation of the market or gross stocks more particularly. And so the problem is timing. I have to survive the potential issue of, I go buy value stocks and then all the sudden all the crazy maniac stocks beat me and crush my soul by ten percent a year for the next ten years again.” ~ Wes Gray

[31:57] - “The problem is, if there is a risk that you give up on fundamentals and the weighing machine in the short run, that means you will not get to extract the benefits of the long run. And I always tell people, you really need to sit down and think about your own brain psychology, and if you can’t deal with the heat in the kitchen, get out of the kitchen and just go buy the Vanguard fund.” ~ Wes Gray

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

It’s no secret that cryptocurrency has been a trending point of contention for financial experts and the general public. But is it worth the hype or a bubble waiting to burst? David Chase of Crescent City Capital has become an expert on the subject. But David’s desire to explore crypto was not for the sake of hopping on a fintech fad.

Spending his early career learning the nuances of central bank policy, David had a hunch there was a better way to regulate policy. After diving into the subject, cryptocurrency became that solution. 

So after a year of exclusively trading crypto, David launched Crescent City Capital with his partner Hunter Metcalf. The firm’s goal is to accumulate as much Bitcoin as possible and David’s personal belief is that crypto is not only here to stay, but is fundamentally irreplaceable. 

In this episode, David talks with Doug and Greg about why crypto solves the problems most currencies encounter, the future of Bitcoin and blockchain technology, how anyone can and should invest in crypto, and the potential life-saving impact of digital currency.

Key Takeaways

Quotes

[19:55] - “I don’t see any of the top 10s going away, I certainly don’t see Bitcoin going away unless there’s this onset of some kind of one world central bank currency that could potentially replace it. But even then it’s not the same, it’s not disinflationary. Any central bank currency is going to have to be inflationary.” ~ David Chase

[21:27] - “We listen to three or four pitches a day. And I can tell you, the smartest minds in the world are moving toward blockchain development.” ~ David Chase

[33:58] - “Until Bitcoin or the total asset class valuation reaches a point, kind of the equivalent of gold or even silver, you’re going to have massive manipulation, massive volatility. I think that scares a lot of people away. But with volatility comes opportunity.” ~ David Chase

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.

Sometimes, the best places to invest are the places no one’s looking. Ian Bezek has become an expert on under-the-radar places to spend his time and invest his money. Having spent the last eight years living in South and Latin American countries, he’s an advocate for exploring countries that cost less for a higher quality of life. Not to mention, he’s diving headfirst into the international markets and is here to share his tips for investing overseas. 

Rather than looking where everyone else is (literally), Ian focuses on compounding businesses, companies constantly growing their earnings, companies with nearly irreplaceable assets, and businesses becoming leaders in a “boring” sector. He values companies with exit ramps and hand railings over those with high-speed glass elevators and no red exit sign in sight. His stocks may not be the sexiest, but Ian’s peace of mind and the performance of his portfolio remain intact. 

In this episode, Ian talks with Doug and Greg about his perspective on the U.S. versus Latin American markets, his philosophy on the ESG score, when Ian predicts we’ll see market revisions in the U.S., tips for exploring life in Colombia, and the surprising sector Ian believes is this decade’s top growth industry.

Key Takeaways

Quotes

[21:52] - “I’d say one thing that a lot of people should pay more attention to are the Mexican companies because you can find companies that are much less cyclical there, like the airports for example.” ~ @irbezek

[24:40] - “I do think that the Latin American markets should outperform.  In particular, Mexico’s kind of the one I’ve planted my flag on because that’s a much broader market that is not just tied to commodities. So I think investors will rediscover that one.” ~ @irbezek

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The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a final decision.