The Trusted Partner Podcast - Wealth Strategies for High Net Worth Families

Gabe and Jesse discuss the Federal Reserve's recent September 20th 50 basis points rate cut and its ramifications. They explore the effects on various investment decisions, such as high-yield savings accounts and fixed-income investments, and the broader implications for the stock and real estate markets. They also address how high-net-worth individuals and retirees might be impacted. The episode provides practical advice on navigating these changes and emphasizes the importance of having a solid financial plan. Then hear about Gabe and Jesse's light-hearted fall traditions.

Key Takeaways:

• The federal reserve's recent cut by 50 basis points and its potential impact on short-term and long-term financial strategies

• The conversation highlighted how interest rate changes affect various aspects of personal finance, such as high-yield savings accounts, credit card rates, and mortgage rates.

• Discussions also covered broader economic implications, including potential effects on the housing market, retirement planning, and how well-constructed financial plans should not be overly sensitive to interest rate fluctuations.

Key Timestamps:

(00:00) - How Do Federal Rate Cuts Impact Investors?

(04:20) - Fixed Income Investments

(10:12) - The Stock Market

(14:05) - Mortgage Rates

(20:06) - Retirement Planning

(25:10) - Total Bond Markets

(25:55) - Will Stimulation Bring Inflation?

(30:29) - Fun Fall Activities

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Zach Stanley joins the podcast to share insights into the future of the sports card industry, its role as an alternative asset and Zach's personal stories of treasured sports memorabilia. Zach explains the concept of card breaking, the financial rationale for buying specific teams and its impact on the sports card industry. He elaborates on the evolution of the industry, describing how it has been driven by entertainment and social components emphasizing the importance of creating engaging experiences for collectors. Zach also discusses how new technology and social platforms have reshaped the hobby, making it a unique intersection of memorabilia, fandom, and investment.

Key Takeaways:

• Zach explains the concept of card breaking, where participants buy "teams" in a sealed card product, and receive the cards of their chosen team that are revealed during a live-streamed unboxing. This has driven the sports card industry to new heights, creating a blend of entertainment and community involvement.

• The discussion delves into how sports cards are valued, focusing on supply, demand, rarity, and player popularity. Zach emphasizes that analyzing these factors is akin to evaluating stocks or other investments, where rarity and market demand play crucial roles.

• Zach highlights the transformation of the sports card industry facilitated by technological advancements, digital platforms, and innovative experiences. He predicts continued growth driven by enhanced fan engagement and the creation of unique collectible opportunities, such as memorabilia cards and experiential rewards.

Key Timestamps:

(00:00) - The Evolution of the Sports Card Industry

(04:36) - Card Breaks

(10:15) - Art and Collectibility

(14:04) - Investment Strategies in the Card Market

(17:14) - Analyzing Player Value in Card Investments

(21:42) - The Future of Card Collecting

(22:41) - Fanatics' Impact on the Hobby

(23:32) - Technological Advancements

(27:20) - Handling Inherited Card Collections

(33:03) - Personal Stories of Sports Memorabilia

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, trading cards, sports cards, sports memorabilia

Mentions:

Website: https://www.wethehobby.com/

LinkedIn: https://www.linkedin.com/in/zach-stanley-945a2723/

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe are joined by Jason Garlock, Chief Investment Officer at Cobblestone Capital Advisors, to demystify hedge funds. The conversation covers what hedge funds are, their legal structure, investment strategies, performance metrics, fee structures, and regulatory environment. Jason draws comparisons with mutual funds and traditional investments, emphasizing the importance of understanding the manager's role and strategy. The episode also touches on the relevance of hedge funds in modern portfolios and effective ways to benchmark their performance. Finally, the group ends on a lighter note with a fun discussion on their personal 'long' and 'short' bets.

Key Takeaways:

• What are the differences between hedge funds and mutual funds?

• How do hedge funds use short selling, arbitrage, and global macro as a financial strategy?

• What role do the managers and investors play in the legal structure of a hedge fund?

• What constitutes an appropriate benchmark for hedge fund performance?

• What are Jesse, Gabe and Jason long and short on when it comes to living the best life?

Key Timestamps:

(00:00) Introduction

(02:01) What is a Hedge Fund?

(02:26) Legal Structure and Advantages

(04:03) Investment Strategies and Transparency

(05:50) Hedge Funds vs Mutual Funds

(10:39) Leverage in Hedge Funds

(14:44) Benefits for Hedge Fund Managers vs Investors

(18:00) Understanding Hedge Fund Fees

(21:53) Consumer Protection

(28:51) Benchmarking Hedge Fund Performance

(33:30) Private Investments vs. Hedge Funds

(36:04) Personal Long and Short Bets

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, long short hedge funds, mutual funds, private equity, hedge fund managers, investors

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe sit down with Allison Schraf, a Senior Wealth Planner at Cobblestone Capital Advisors, to discuss the pros and cons of couples (whether married or not) combining their finances. Topics include: - the importance of communication, transparency, and compromise. - practical advice on creating a household budget, allocating expenses, and managing joint finances. - the importance of updating beneficiaries and life insurance coverage after marriage, and updating personal property coverages. - the need to periodically review and update these arrangements to ensure they align with changing financial needs and circumstances.

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe meet at the 9th green at 9 for a chat about golf and wealth management, and the varied similarities between the two. Both are exercises in: - Seeking reward while managing risk - Striving to reach your own personal goals, ignoring the outside noise - Planning for what's next and looking ahead - Occasionally hitting it the sand - but focusing on a smart recovery - Seeking guidance for experts who walked the course before - And much more

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe are joined by Charlie Ruff, Cobblestone's Head of Investment Strategy & Communications, to discuss commodities investing: the good, bad, and ugly. Specifically, the three discuss: - what are the different "genres" of commodities? - why does the commodities market exist? - is it worth considering commodities in a diversified portfolio? - do you have to *own* the physical commodities themselves? - and much more

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe are joined by Jordan Millner, Cobblestone's Head of Global Equities, to discuss the merits of international stocks within a diversified portfolio. They answer questions such as: - Do international stocks traditionally outperform U.S. stocks, or vice versa? - Why can't multinational corporations (e.g. Apple) be considered "international investing?" - What are generally accepted international allocations? - What are the various risks of investing in international markets? - What's the difference between "International" and "Emerging" markets? - And more...

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Jesse and Gabe go deep on the topic of 529 plans today, helping their listeners understand this fundamental tool in saving for college. Their conversation covers: - The basics of 529 plans - The major benefits, such as tax-free investment growth - The downsides, like illiquidity and penalties for certain withdrawals - The nuance of the recently publicized "529 to Roth" conversion - How to balance 529s into your overall financial plan - and much more

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Charlie Ruff and Jesse Cramer (sorry Gabe!) sit down with Dan Mason, the General Manager of the Rochester Red Wings, to talk all things Minor League Baseball. Their conversation covers: - The Red Wings' new "bat dog," Bruce! - Ball park fun in the minors - Interactions between different teams' general managers - The business model of the minors - Dan's top Red Wings players ever - and much more

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Gabe and Jesse sit down with Tobin Woodruff, a Senior Wealth Planner at Cobblestone Capital Advisors. Tobin is an expert on tax planning, so today's conversation revolves around: - The basics of a 1040 Federal Tax return, and why individuals need to be aware of it - When to know if you need a tax professional - Withholdings and refunds - Tax tips for both young and old investors - "Trading" tax rates (a la Roth conversions)

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice.

All content is of a general nature and solely for educational, informational and illustrative purposes.

Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal.

Cobblestone is not licensed to provide and does not provide legal, tax, or accounting advice to clients. Advice of qualified counsel or accountants should be sought to address any specific situation requiring assistance from such licensed individuals.

Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.