The Biltmore View

Today's guest Marc Singer has over 25 years in venture capital. He is currently a Managing Partner at Osage University Partners, where he is responsible for overseeing and approving all partnership investments.  In this conversation, Marc and I will dig in to the venture and university research world together. We’ll  try to understand the particular innovations developed out of research universities. And, most importantly, how as investors, we can profit from the companies commercializing those innovations. 

This podcast was recorded on January 31st, 2022.  The respective opinions expressed are those of Mr. Singer and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

 Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

If you really want to know what’s going on in the world of finance, talk to an expert in Emerging Market Debt. Emerging markets tend to represent the marginal risk capital in an allocation. It’s dependent on global liquidity and can serve as the canary in the coalmine of economic cycles. Like any debt strategy, rates and credit are really important. But here – we layer on the willingness of a country to pay. And you could always end up paid back in a depreciated currency. Bottom line, there’s a lot of risk and a lot of potential return here. And figuring it out are some of the smartest people in the investment world. 

 For today’s conversation, we’re fortunate to be joined by Dr. Ricardo Adrogue, Head of Global Sovereign Debt and Currencies at Barings. Ricardo has worked in the industry since 1992 – investing for Barings, Cavezon and Wellington. He’s also spent time at the IMF conducting inflation modeling for central banks, including Brazil. He’s served as an adjunct professor for Latin American economics at NYU. Ricardo holds a BA in Economics from Universidad Catolica Argentina and a MA & PhD from UCLA.  

This podcast was recorded on September 17, 2021.  The respective opinions expressed are those of Mr. Adrogue and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

 Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Scott Wallace was the very first guest on the Biltmore View Podcast in March 2020. There’s good reason for that. Our team at Biltmore considers Scott to be a great investment mind. Within weeks of our first conversation, though, a global pandemic broke out. This proved to be a pretty big deal. Now that things have calmed down a bit, we’re checking in once again with Scott. This time, Scott provides his particular insight on inflation, supply chains, Warren Buffett, and even Cathy Wood. I think you all will really enjoy this back and forth with one of our favorite stock pickers, Scott Wallace of ShorePath Capital Management. 

Welcome to this episode of the Biltmore View -

This podcast was recorded on June 24, 2021.  The respective opinions expressed are those of Mr. Wallace and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Merger Arbitrage.  Arbs were once the scourge of Wall Street. Swaggering titans of trading full of insider information and pinstriped suits. Today, merger arbitrage is back as an interesting strategy. While we don't have Gordon Gekko, we do have Nancy Oh.

Nancy is Portfolio Manager at One68 Global, a niche arbitrage fund, focused on merger and index arbitrage.  A marathon runner in her spare time, Nancy exhibits the same tenacity and discipline in her trading. Nancy breaks down arbitrage for the casual investor, running through particular trades so that we can understand the drivers of pricing inefficiencies. 

Welcome to this episode of the Biltmore View – Blue Horseshoe Loves Anacott Steel

This podcast was recorded on May 27th, 2021.  The respective opinions expressed are those of Ms. Oh and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

As we talk to clients, one question seems to come up again and again… what is going on with home prices? 

When looking for answers to questions about US housing, my brother Todd Gorelick, is my go to source. Todd spends his days managing Gorelick Brothers Capital and Goal Properties. The business is one of the countries largest independent owners and operators of single family rental in the country. 

On this podcast, Todd will share with us his thoughts on single family rental as a new asset class, the differences between renting homes and apartments, how the pandemic is changing the way we live, and finally, why are home prices surging and how long will this last?

Welcome to this episode of the Biltmore View – The Todd Pod.

This podcast was recorded on April 30th, 2021.  The respective opinions expressed are those of Mr. Todd Gorelick and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Blockchain, Bitcoin, Cryptocurrency, NFT's - Darsh Singh, Co-Founder and Portfolio Manager at Hazoor Capital, covers it all. For those looking to learn more about this emerging sector of the investment universe, Darsh provides an in depth and thoughtful perspective. Bitcoin skeptic, crytpo-believer, or undecided this podcast has something for everyone.

We dive straight into the future and philosophy of bitcoin - How valuable is digital scarcity and why use that innovation on a currency? If bitcoin becomes a digital reserve asset, will government allow it to exist? Has bitcoin reached escape velocity?  The conversation moves to other blockchain innovations in finance. What is De-Fi? Darsh digs into some of the innovative uses of smart contracts in online finance. Finally, we touch on NFT's. What is the best use case? Are the current Top Shots, Jack Dorsey tweets, or Christies art auctions an indication of the future or just another bubble?

This podcast was recorded on March 12th, 2021.  The respective opinions expressed are those of Mr. Singh and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

James Kelly, Managing Director, Greywolf Capital. While Greywolf is known for distressed, event driven & CLO strategies, they also have a core expertise in hard assets such as container ships.

James takes us through the history of the container ship industry. He breaks down the global container fleet by ship type. James explains ESG standards of today's institutional investors may be responsible for a supply / demand disconnect in global shipping.  We go into the impacts of COVID-19 on shipping and the subsequent volatility in pricing.  Finally, we talk about how inflation might impact the industry.

This podcast was recorded on March 24th, 2021.  The respective opinions expressed are those of Mr. Kelly and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

Charlie Carnegie, Portfolio Manager, Context. While Context is known as a convertible arbitrage manager, they've been investing in SPACs for over 15 years.

Charlie explains Special Purpose Acquisition Corporations (SPACs). We get into the structure of the vehicle and how they work for investors.  Charlie explains why SPAC investors are like savvy New York nightclub VIP's avoiding the lines out front and accessing the party through the backdoor. After many years in the underbelly of Wall Street, Charlie offers up thoughts on why SPACs are finally gaining broad popularity.  We talk about how SPACs serve as a hack for growth companies going public while avoiding the broken, highly regulated IPO market. Finally, Charlie offers up his thoughts on whether SPACs are here to stay.

This podcast was recorded on March 24th, 2021.  The respective opinions expressed are those of Mr. Carnegie and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

Burl East, CEO American Asset Capital Advisers

- The impact of Covid-19 pandemic on various real estate sectors
- How "office" as a real estate sector is the new retail.
- A bleak future for Class B Manhattan and San Francisco office space
- What is the impact on lenders?
- Is there a distressed investment opportunity? 

This podcast was recorded on January, 20th, 2021.  The respective opinions expressed are those of Mr. Mahon and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

Ryan Mahon, Portfolio Manager at Ibex Investors discusses:

- The continuum of mobility: internal combustion engine to mobile living room.
- The difference between Waymo and Telsa
- How far off is the future of autonomous mobility (are we there now)?
- Where is the US in the global race for autonomous driving?
- What's the future of the mobility - subscription or ownership?
- Our heads explode as we go down the second derivative impact of driverless cars - why Ryan is advising his brother to go into city planning.

This podcast was recorded on October 14th, 2020.  The respective opinions expressed are those of Mr. Mahon and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.