As 2024 comes to a close, we invite you to reflect on the year with us through some of the most memorable quotes and highlights from The Unlimited Podcast. In this brief, 7-minute recap, you'll hear standout moments from each of our guests, Brian's insightful reflections, and a few laughs along the way. Relive the best of 2024 with us!

Let's Go!

Stay tuned for another great year of The Unlimited Podcast in 2025, kicking off in January with the economic outlook from David Rosenberg, Founder & President of Rosenberg Research.

See you on the flipside.

On this episode of The Unlimited Podcast, Brian welcomes Som Seif, a trailblazer in the Canadian wealth management space and the founder of Purpose Unlimited. Som's career is marked by a series of innovative milestones, from launching one of Canada's first ETF companies, to co-founding Wealthsimple, to creating the world's first Bitcoin and Ethereum ETFs. Som shares his insights into the evolving wealth and investment management landscape, highlighting the importance of aligning investment strategies with personal values and financial goals (sounds familiar to us here at Ginsler Wealth!). In addition, Som reveals the lessons learned from his business and entrepreneurial experiences, his vision for the future of financial services, and his best advice for success.

Som Seif is the Founder and Chief Executive Officer of Purpose Unlimited, which he formed following the sale of Claymore Investments to BlackRock Inc. in March 2012 and the Co-Founder of WealthSimple Technologies Inc. Prior to Claymore Investments, Som was an investment banker with RBC Capital Markets. He has a strong commitment to community and is currently Co-Chair of the UofT Defy Gravity Campaign, a member of the AGO Foundation Board, and Next Canada Board.

Timestamps

0:00 Disclaimer and Intro

4:56 Som's "Superhero Origin Story"

9:52 Som's Investment Banking experience

16:47 Launching Claymore Investments

24:42 Building Purpose

30:47 Founding Wealthsimple

33:24 Cryptocurrency & digital assets

39:40 Where does cryptocurrency fit in a portfolio?

46:14 Longevity Pension Fund

49:10 If Som would start a new company, what would it be?

51:12 Som's key advice for success

52:27 Outro

Most Canadian investors focus on developed markets, mainly in the U.S., Canada, and parts of Europe. However, there's a world of untapped potential in select emerging markets—regions that drive a substantial portion of global GDP. While these markets carry a unique blend of risks, they also offer powerful growth opportunities that investors shouldn’t overlook.

On this episode of The Unlimited Podcast, Brian explores the world of emerging markets investing with Rohit Khuller, Partner and VP of Investment Management at Letko Brosseau & Associates Inc. As the Lead Portfolio Manager of the firm’s Emerging Markets Equity portfolio, Rohit breaks down what defines emerging markets, highlights the investment opportunities they offer, and shares examples of some of the fund’s top holdings.

Rohit Khuller is Vice President & Partner at Letko Brosseau & Associates, an independent investment manager, managing approx. $18 billion in assets, with offices in Montreal, Toronto and Calgary. In addition to his role as Portfolio Manager, he is a member of the firm’s Investment Council, overseeing portfolio strategy and risk management for all of the company’s assets, and he is the lead portfolio manager responsible for the firm’s emerging markets equity investments. Prior to joining Letko Brosseau, Mr. Khuller’s career in various industries such as automotive, aerospace and banking in several countries enabled him to deepen his knowledge in different fields. Rohit has successfully completed the General Management Program (GMP) from Harvard Business School, has an MBA from McGill, a bachelor’s in engineering from Delhi College (B. Eng), and is a CFA charterholder.

Timestamps

0:00 Disclaimer and Intro

7:19 Letko Brosseau's Approach to Investing

10:21 What is Emerging Markets Investing?

12:46 Risk in Emerging Markets

14:52 Opportunity in Emerging Markets

22:25 Valuation of Emerging Markets

25:04 Letko Brosseau's Research Process

29:43 What's Happening in Major Emerging Markets?

35:37 Managing Currency Risk

37:49 Letko Brosseau's EM fund's largest holdings

42:24 If Rohit could do anything, what would it be?

44:54 Outro

From Brian Ginsler, Ginsler Wealth CEO:

"This past August, equity markets around the world experienced significant declines. Coincidentally, I chose the August long weekend to visit my favourite place on earth, Algonquin Park, where there is no cell reception. Or so I thought.

In the very early hours of Monday (August 4) morning, a faint, single bar of service must have magically appeared, and a single Wall Street Journal news alert notification slipped through...

"Japan's Nikkei Stock Average closed down 12.4%, it's biggest single-day percentage fall since 1987"

"Oh shoot," I said to my wife, and decided that we better drive out of the resort to get stronger cellular reception to see what was going on. It wasn't pretty."

Listen to this episode to find out what Brian did next...

For the original transcript of this letter and to see weblinks and other media, please visit https://ginslerwealth.com/ginsler-wealth-third-quarter-2024-client-letter-do-nothing-edition/

During his first year at Ivey Business School, Brian's career plan changed significantly after taking an Introduction to Finance & Investing course. The insights gained from that class inspired him to pivot from a career in accounting to a focus on finance and investing.

Twenty-five years later, Brian reconnects with Stephen Foerster, the professor who sparked his interest in finance, to discuss Foerster's latest book: "Trailblazers, Heroes, & Crooks: Stories to Make You a Smarter Investor".

Brian and Steve discuss trailblazers Quintus Fabius and Muhammad Ali; heroes Warren Buffett and Harry Markopolos; and crooks Bernie Madoff, Sam Bankman-Fried and Tino DeAngelis; among others. You don't want to miss these stories, which could make you a smarter investor.

Stephen Foerster is an award-winning author and Professor of Finance at Ivey Business School, where he has taught since 1987. He received a BA (Honors Business Administration) from Western University, and an MA and PhD from the Wharton School, University of Pennsylvania. He obtained the Chartered Financial Analyst (CFA) designation in 1997 and has taught Financial Management, Investments, and Portfolio Management courses in the HBA, MBA, and Executive MBA Programs. He has won numerous teaching and research awards.

Foerster has also written two textbooks and over 100 case studies and technical notes in the areas of investments and financial management. He has published over 50 articles including in the Journal of Financial Economics, the Journal of Finance and Financial Analysts Journal. Foerster has served on pension and endowment fund boards as well as not-for-profit investment committees.

Timestamps

0:00 Disclaimer and Intro

7:10 Trailblazers & Masterly Inactivity

17:17 Warren Buffet, American Express, & Salad Oil

25:12 The Unsung Hero of the Bernie Madoff Story

35:20 Stephen's Thoughts on Cryptocurrency

37:31 Investing & Tennis Strategy

43:52 Historical Lessons from Market Crashes

47:14 How Might Investing Change?

48:43 Stephen's Critical Advice for Investors

49:53 If Stephen Could Do Anything, What Would It Be?

What does it take to be a Jeopardy! champion? After winning over Canadians' hearts and minds with her standout performance on Jeopardy!'s Tournament of Champions, Dr. Juveria Zaheer returns to The Unlimited Podcast to share her journey. In this episode, Brian and Juveria talk about her road to Jeopardy!, the importance of developing new skills and embracing risks, and the incredible work Dr. Zaheer is doing with the Centre for Addiction and Mental Health (CAMH). Tune in for inspiring life lessons, fascinating stories, and more!

Dr. Juveria Zaheer is an associate professor of psychiatry at the University of Toronto's Temerty Faculty of Medicine, and a clinician scientist at CAMH. As the medical head of CAMH's emergency department, she plays a critical role in providing urgent psychiatric care to individuals in crisis. Dr. Zaheer is also a renowned researcher and a leading authority on suicide risk assessment and prevention.

In addition to her medical achievements, Juveria recently garnered international attention for her expertise in a different field—trivia! Despite a tough loss on her Jeopardy! debut in May 2023, her strong performance earned her a spot in the Second Chance Tournament later that year. Dr. Zaheer won that tournament, advancing to the Champions Wildcard Tournament, where another victory allowed her to compete in the prestigious Tournament of Champions earlier this year.

Juveria's first appearance on The Unlimited Podcast can be found as Episode 9: The Future of Mental Health Care.

To learn more about or donate to CAMH's "No One Left Behind" campaign, click here.

Timestamps:

0:00 Disclaimer and Intro

4:51 Juveria's "day-to-day" life

6:36 Juveria's Journey to Jeopardy!

11:41 Jeopardy! Behind the Scenes

15:42 Preparing for Jeopardy!

19:07 Honing memory and recall skills

23:23 Jeopardy!'s infamous buzzer

26:01 Juveria's betting strategy

29:19 Juveria's most memorable Jeopardy! moment

31:05 Jeopardy's impact on Juveria's family

34:16 Life lessons for everyday life

36:20 No one left behind

In this special episode of the Unlimited Podcast, Brian welcomes Brent Belzberg, founder and Senior Managing Partner of TorQuest – one of Canada's original private equity firms – to discuss leadership, culture, and the keys to success in both life and business.

Brent has been a supporter and mentor to Brian for almost two decades and we were honoured to have the chance to bring our listeners his story and his wisdom.

Brent founded TorQuest in 2002 after selling Harrowston, Inc., a publicly traded investment fund he started in 1992 to invest in and build businesses. Beyond TorQuest, Brent serves as a Director of Sinai Health System, where he was previously Chair. He is a member of the Investment Advisory Committee at the University of Toronto. His past directorships include CIBC, O&Y REIT, and Four Seasons Hotels. In 2018, he was appointed a Member of the Order of Canada for his work as a business leader and philanthropist. Brent received Queen Elizabeth II’s Platinum Jubilee Medal in 2023 for his significant contribution to Canada and the province of Alberta. Brent received a B.Comm. (Honours) from Queen’s University in 1972 and a J.D. from the University of Toronto in 1975. In 2023, Brent received an honorary Doctorate of Laws (LLD) from Queen’s University.

TorQuest is a private equity firm that focuses on middle-market companies in North America, investing across various industries. The firm collaborates closely with family owners, founders, and management teams, and specializes in entrepreneurship/family succession, corporate carve-outs, recapitalizations, and management buyouts.

Timestamps

0:00 Disclaimer and Intro

3:30 Private Equity & TorQuest

15:16 Success in Private Equity and TorQuest's future

21:02 Brent's outlook on the economy

23:48 How did Brent enter the Private Equity space?

31:49 Culture and Leadership within TorQuest

36:41 Successful partnerships & leadership traits

40:54 Brent's advice for entrepreneurs

48:29 Philanthropy & Brent's legacy

54:10 If Brent could do anything, what would it be?

From Brian Ginsler, Ginsler Wealth CEO:

"A few weeks ago, I experienced what all financial advisor parents dream of. I came home to find my youngest daughter’s Grade 8 Financial Literacy test on the dining room table. She had earned a mark of 95%. I couldn’t have been more proud, and thought about ordering Ginsler Wealth business cards for her right away!

But I might have gotten ahead of myself..."

Private debt is "all the rage" these days, but also beset with some controversy, especially in Canada. Asset-based lending is a form of private debt, and eCapital is a leader in this space. On this episode of The Unlimited Podcast, Marius Silvasan, CEO of eCapital, goes "back to basics" to explain what is asset-based lending, how eCapital mitigates risks typically associated with traditional private debt, and reveals eCapital's secret weapon: its technology focus.

eCapital is a specialty finance company with a focus on providing working capital to small and medium sized businesses in the U.S., U.K., and Canada. eCapital finances 6,000+ clients through factoring and asset-based lending facilities and provides ancillary services such as credit cards, fuel cards, bill pay, and other treasury services. The business was founded in 2006 and employs 700+ people globally.

Prior to his leadership role with eCapital, Marius was CEO and Director of ONE Bio Corp and Tele Plus World Corp, accumulating over 20 years of experience in structured finance, syndication and mergers and acquisitions. As a Forbes Finance Council Member, he is an emerging thought leader on financial services and corporate leadership. He holds a Bachelor of Business Administration and a Master of Business Administration from HEC University in Montreal.

Timestamps

0:00 Disclaimer & Intro

3:51 Marius' journey to eCapital CEO

6:14 What eCapital does for SMBs

12:12 Examples of industries using eCapital

15:40 Mitigating risk with eCapital's loans

29:48 eCapital's technological applications

33:18 eCapital's growth strategy

38:41 What economical challenges is eCapital seeing?

43:01 How does eCapital differ from other lenders?

45:39 Ensuring liquidity within eCapital

48:11 How should investors evaluate private debt firms?

51:20 If Marius could do anything, what would it be?

Small-capitalization ("small-cap") equity investing requires a specialized investment and trading skillset. Since its inception in 2018, Bedford Park Capital has proven its proficiency in this area. Bedford's President & CEO Jordan Zinberg joins Brian to explain what small-cap equities are, what it takes to be a successful small-cap investor, and why some of the risks of small-cap investing may actually be opportunities in disguise.

Jordan Zinberg is the President and CEO of Bedford Park Capital Corporation. Jordan has over 20 years of investment industry experience, including portfolio management and trading, and has served as a director of both private and public companies.  Before founding Bedford Park Capital, Jordan was a Managing Director and Portfolio Manager at a prominent Toronto-based investment management firm.  Prior to that role, Jordan spent 7 years at one of Canada’s largest investment dealers.  He holds an MBA from the Schulich School of Business as well as several industry licenses and certifications. He also holds the Chartered Investment Manager designation and is a fellow of the Canadian Securities Institute.

Timestamps

0:00 Disclaimer & Intro

4:11 Jordan's journey to founding Bedford Park

7:57 What are "small-cap" equities?

12:19 What makes small-cap equities attractive?

16:02 Finding companies that meet Bedford's criteria

19:02 Difficulties purchasing small-cap equities

21:59 Positives & negatives of small-cap equities

26:59 How Bedford found one of their best holdings

33:03 Jordan's outlook on the economy and stock market

35:48 Behind the scenes at BNN

38:42 If Jordan could do anything, what would it be?

39:57 Outro