Lagniappe

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.

At the heart of Il San Pietro in Positano, one of Italy’s – and the world’s – finest hotels, is a family business with a fascinating story. Il San Pietro was built by Carlino Cinque when Positano was a simple fishing village. Carlino’s family believed him crazy for pursuing a life outside their home and even had Carlino impeached for his entrepreneurial aspirations. Luckily Carlino overcame obstacles and his grand hotel came to fruition. 

Today, Vito Cinque co-owns Il San Pietro with his brother Carlo, the third generation to take the reins and help their family’s legacy live on. The hotel has become an architectural feat – existing on the precipice of one of Positano’s infamous cliffs. Each room has a view and a beautiful terrace. While a room is a luxury, the staff become like family and your stay is always a consistent, trip-defining experience. 

But there’s an art to maintaining luxury with family by your side. Greg and Doug talk with Vito about transforming the Il San Pietro into a world-renowned five-star hotel alongside his brother Carlo, his strategy for remaining competitive as the years go on, how Vito led his staff through COVID-19, plus the key reason Vito believes Il San Pietro has remained a family-owned worldly success. 

Key Takeaways

Quotes

[08:58] - “This is what we want clients to understand: that when your family has a unique experience, you cannot put this sort of experience in a box. It’s not something that has been planned. It’s like, you find the right plant in the right spot and the plant grows perfectly.” ~ Vito Cinque

[12:47] - “Being in a family business, the time for making a decision is very fast, as long as you divide your duties. Me and my brother have two different backgrounds. We take care of two different parts of the hotel. So I run the place, I am the front office person, and he’s the back office guy. He looks at the numbers and I produce.” ~ Vito Cinque

[23:45] - “The attitude of the clients has totally changed now. They want to go where they don’t have surprises. They want a place to be consistent. Now the price is not an issue as long as you get what you were expecting.” ~ Vito Cinque

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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.

What would you do with a family fortune? Taking a hard look at the downfall of the Vanderbilt dynasty tells us a few things about wealth, purpose, and the importance of a trusted financial advisor. 

History can tell us what to expect during unpredictable global events, how bear markets typically come to a close, and the surprising similarity between institutional and retail investors. 

This week, Doug and Greg why wealth alone won’t buy happiness, what the market corrections of the past mean for today’s turbulent fluctuations, and why “professional” investors aren’t immune to emotional influence. 

Key Takeaways

Quotes

[08:14] - “I just think that lack of purpose and lack of direction leads to lack of wealth. So what does money really do? Money, if you’ve at least been a good steward of capital, provides you with flexibility and time.” ~ Doug Stokes

[15:28] - “That’s the real issue — trying to time the market and waiting for the dust to settle. Our human nature does not want to buy when we think that there is a risk of loss around the corner and there’s been a recent risk of loss. And so the whole involving of human emotions and investments is a really bad combination.” ~ Greg Stokes

[24:05] - “The presumption is that investment professionals, investment managers are better at that sort of emotional aspect and timing the market than a retail investor but this basically debunks that whole theory. And it is absolutely true that people, in general, retail investors or institutional investors, are not good at beating the market.” ~ 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.

While times may feel unsteady and unpredictable, if you take a look through history, you’ll see these very market fluctuations repeated, time and time again. The tricky part is convincing your psyche to invest during a downtime when the market’s on sale. So how can you override your human instinct to hoard cash in a downturn? And when will there be resources available to prevent ourselves from acting on less than financially favorable inclinations? 

This week, Doug and Greg discuss their point of view on today’s crazy markets,  the long-term implications of rising interest rates, why it’s best to avoid anxiety over unpredictability, and how to retrain your psyche to make smarter financial decisions.

Key Takeaways

Quotes

[14:13] - “Our job really as portfolio managers and as advisors is to try to put context in these types of situations for clients that these are normal types of market events. Historically, if you look at the stock market from 1980 to present you get an intra-year decline.” ~ Greg Stokes

[17:50] - “The rise in interest rates has afforded people the ability to not be as aggressive as they had to be maybe last year or the year before to achieve a reasonable rate of return.” ~ Doug Stokes

[20:02] - “The sort of psychological issue is that when things go on sale in the stock and bond markets, it’s really hard to take advantage of that because the human aspect of investing is that things are going to continue to get worse, which they might, but it really is a good opportunity if you look at it through the lens of the long-term, you try to separate your natural psychology from the situation.” ~ 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.

Bull or bear? Always the question and (almost) always difficult to answer. Especially in 2022. Between the Russia-Ukraine invasion, rising interest rates, and spiked inflation, the markets have been up and down. And it’s incredibly difficult to take a hint from what’s happening when deciding whether to invest or play it safe. 

Given today’s turmoil, it’s important to consider what’s worked in crisis markets of the past and what indicators signal it’s time to “go long” with your investments. CNN, Vanguard, and BlackRock have different ideas on where things are headed, short-term and long-term. But is it always best to trust the investor experts? And if so, which experts should you trust? 

This week, Doug and Greg discuss what rising fear and uncertainty mean for today’s tricky markets, why now is the best time to look overseas for property purchases, how to manage rising inflation, and why the best investors don’t always dish out the best financial advice. 

Key Takeaways

Quotes

[02:48] - “It’s counterintuitive to buy when there’s fear and panic, but that really is the best time to buy if you look at history.” ~ Greg Stokes

[06:13] - “Generally speaking, being a human being is not something that helps you in terms of emotions from an investment standpoint. Typically, if you look back at history, if the crowd is doing something, either buying or selling at a high clip, it’s usually a contrarian indicator one way or another.” ~ Greg Stokes

[12:39] - “It’s not really a valuation-driven sentiment change in terms of just general markets. I think rising interest rates, rising inflation is really the concern here while a year ago it was more about, can companies really grow into the valuations they’re receiving?” ~ 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.

Despite dealing with the aftermath of a global pandemic, an unpredictable stock market, and record-breaking inflation, life in 2022 may not be as bad as you think it is. 150 years ago, the richest people in America didn’t have easy access to basic commodities like air conditioning and ice, not to mention apps that deliver food and streaming services playing everything you can imagine. 

Rising interest rates, higher mortgage payments, and a low inventory can make it feel like a crazy time to be buying a house right now. But real estate has more value than just a percentage point and, like all major decisions in life, there are several factors at play when deciding to buy a home. 

This week, Doug and Greg discuss why it’s easier to stay optimistic than you might think, the best way to manage client expectations regardless of the times we’re living in, and why rising interest rates don’t necessarily throw a wrench in your real estate plans. 

Key Takeaways

Quotes

[09:27] - “The last thing that I would want to do is plan on some historical rate of return that makes the numbers look fabulous and then way undershoot that, for one reason or another. I think it’s really good from a psychological standpoint to maintain those reasonable expectations that returns are going to be more muted in the future and if you beat them then that’s great.” ~ Greg Stokes

[10:06] - “You could end up in the same exact place, but if you have the expectations of higher outcomes at the outset then you’re disappointed versus ecstatic.” ~ Doug Stokes

[12:40] - “I think we’re in a situation where theoretically we could have a rise in mortgage rates like we’re experiencing in the first half of 2022, coinciding with either a steady price of homes or even a continued increase of the value of homes, which would be extremely interesting.” ~ 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.

If the past few months have reminded us of anything, it’s that market volatility is constant and unpredictable. With the spread of information accelerating faster than ever, global volatility now matches that of the market in (seemingly) real-time. 

So it’s no surprise that such upheaval takes a toll on our psyche as investors. But if there’s one thing we can predict, it’s that volatility isn’t going anywhere and we have to prepare for it, financially and mentally. 

Although it sounds like an oxymoron, there are ways to prepare for the unpredictable. And there are ways to protect yourself psychologically, even if those protections go against popular financial advice.

This week, Doug and Greg discuss how to combat the psychological strain of volatile markets, why the market reacts the way it does to world disaster, and what the yield curve tells us about a recession in 2022. 

Key Takeaways

Quotes

[14:38] - “The level of volatility and equities just improves the use case for direct indexing and custom indexing. Basically what that means is instead of owning the S & P 500, you own the component parts.” ~ Doug Stokes

[15:48] - “For people that do potentially need a portion of their assets, from a psychological standpoint those assets over a defined period of time shouldn’t be invested in the markets. Because if you have your next month’s living needs in the market and you’re watching this kind of thing it can really be difficult from a psychological standpoint.” ~ Greg Stokes

[23:37] - “The general rule here is, you anticipate recessions are going to occur over a lifetime, multiple recessions, and you design a portfolio in accordance with that sort of logic.” ~ 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.

With America more divided than ever before, few things have the power to bring together both sides of the political spectrum. The Opportunity Zone program is one of those rarities specially designed to satisfy political opposites. Not to mention, dramatically improving the community around us. 

But some businesses and individuals are hesitant about holding an investment for 10 years, or maybe they only remember the policy’s flawed origin story. An expert on all things Opportunity Zones, Joe Truhe from Jefferson Capital Partners is here to demystify the program’s complexities and core benefits. 

In this episode, Joe talks with Doug and Greg about the benefits – both financial and humanitarian – of the Opportunity Zone program, including how the program manages to merge oppositional thinking, how OZs work in practice, and why the program fits perfectly within Jefferson Capital’s core strategy.

Key Takeaways

Quotes

[02:20] - “The Opportunity Zone program is designed to get both sides of the political landscape to join on economic development in otherwise underserved communities.” ~ Joe Truhe

[28:49] - “These are times of opportunity for us, no pun intended, but you can sort of lean into the chaos and grab market share with private investment where you may not be able to in a public company. That’s the illiquidity trade-off.” ~ Joe Truhe

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Disclosure

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.

If there’s one industry that’s been uprooted since March 2020, it’s live entertainment. Just as leaders within tourism and hospitality have struggled to regain ground, runners of festivals and owners of live theaters have unleashed a wheelhouse of creativity just to stay afloat and continue serving the communities and artists around them.

In this episode, Greg and Doug talk with Becker Hall, CEO of Hogs For The Cause, and Barrett Cooper, COO of ERG Enterprises. 

Although Becker manages the unpredictability of live outdoor events and Barrett the difficult task of positioning The Orpheum as a go-to experience, they’ve both developed unique ways to offset inflation, navigate a growing labor shortage, and encourage consumers to leave their living rooms for an in-person escape. 

Greg and Doug talk with Becker and Barrett about staying afloat during a global pandemic, navigating an unpredictable return to live events, what’s necessary to survive in the live entertainment business, and what audiences crave now more than ever. 

Key Takeaways

Quotes

[01:58] - “I will tell you, if you want to put on a music festival, you better be making money somewhere, because it’s usually a loss leader for people and some kind of tax break that brings in some goodwill for the community and the environment doing it.” ~ Becker Hall

[05:25] - “Just because we’re a non-profit or maybe just a private event, we still think like any privately-traded company. We’re focused on growth and you’ve got to be focused on growth year over year knowing that a lot of the expenses are going to pile up and get higher and higher.” ~ Becker Hall

[20:40] - “If we can focus on that experience, that moment of escape, that’s what people I think really demand right now; a moment separate from all the static and noise of the world.” ~ Barrett Cooper

[32:52] - “Coming out of COVID, again, it’s the whole escape from reality, lose yourself in something beyond just a good cocktail. It’s a good cocktail plus a story and that’s what we’re trying to sell.” ~ Barrett Cooper

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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.