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Invest Like the Best

Exploring the ideas, methods, and stories of people that will help you better invest your time and money. Learn more and stay-up-to-date at InvestorFieldGuide.com
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Now displaying: February, 2019
Feb 26, 2019

My guest this week is Michael Kitces, who is one of our industries go-to experts on all things financial advise and financial planning.

We discuss the past, present, and future of financial advise, financial technology, and investing. If you are a financial advisor or use one, this conversation is full of great history and perspective. Please enjoy.

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

 

Show Notes

1:08 - (First Question) – History of financial planning/advice model

5:26 – Fee changes in the 1970’s

10:01 – The start of the AUM model

10:44 – Value proposition for financial advisors beyond trading vs robo-advsiors

            11:49 – Why Robo-Advisors Will Be No Threat To Real Advisors

18:20 – Why are humans still dominating the space

23:58 – Future of advisor fees

32:50 – Viability of the human driven flat fee model

37:50 – The dominance of flat fee models

43:13 – What services are financial advisors offering to justify their fees

47:17 – Dimensions to divide potential customers

52:20 – Exciting updates on the investment side that will help differentiate managers

55:37 – Any investment function beyond the basics that is intriguing to him

58:45 – Most interesting problems to be solved on the investing and non-investing sides

1:04:52 – Advice for young advisors

1:09:24 – How does he invest his own money

1:11:31 – Kindest thing anyone has done for Michael

 

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on twitter at @patrick_oshag

Feb 12, 2019

My guest this week is Alex Danco. Alex is a member of the Discover Team at Social Capital, has a background in biology, and has written about all things tech and business. While Alex is only 30, it seems like he has spent decades thinking about all the topics that we discuss, from changing business models, to railroads, to the shift from products to functions, and the rise and fall of asset bubbles. I hope you enjoy this wide ranging conversation. 

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

 

Show Notes

1:15 - (First Question) – A look at his day job on the discover team

            2:20 – 40 problems doc

4:27 – How companies get on the list and the turnover

5:21 – Hardest problem they are looking at…housing

11:37 – The investment component that fixes housing

15:35 – Where we are in the technology cycle in the view of abundance vs scarcity

20:54 – Change in distribution and the business vs utility business idea.

28:40 – Bifurcation of small and larger businesses

32:48 – New forms of scarcity today

38:31 – The trend of massive company incumbency

41:07 – The utility of bubbles

49:08 – His favorite bubble

51:18 – Challenges and nuances of bubbles

            53:35 – Zero to One Notes on Start-Ups, or How to Build the Future

1:02:22 – Future for VC funding in Silicon Valley

1:04:07 – Advice for business builders

            1:08:23 – The Three True Outcomes

1:13:04 – His background in biology and innovation in that space that is coming

1:19:46 – Company examples that are of interest to him and that encapsulate his way of investing

1:24:56 – Kindest thing anyone has done for Alex

 

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on twitter at @patrick_oshag

Feb 5, 2019

My guest this week is Keith Wasserman, co-founder of the real estate investment firm Gelt.

This was my first fully dedicated conversation on direct real estate investing, so we cover many different topics, including the pros and cons of different types of real estate, current valuations, risk vs. reward, tax protection, and the most interesting emergent areas.  

You can tell Keith is an entrepreneur at heart so I enjoyed his energy and all that he has learned. Please enjoy.

 

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

 

Show Notes

1:15 - (First Question) – Their interest in apartments and mobile homes as investments

2:32 – The returns spectrum for different classes of real estate

4:03 – His early entrepreneurial ventures and the start of Gelt

7:45 – Don’t be afraid of negotiating

8:34 – Going through early deals in real estate

11:57 – How he determines when it’s time to sell a property

14:13 – How do they think about taxes in their investment offerings

16:57 – Depreciation strategies in real estate investing

18:27 – The evolution of the types of real estate properties they’ve invested in

21:41 – Most important factors when evaluating a building to invest in

23:50 – Barriers to entry

25:41 – Changes in his cost of capital

28:51 – Cost of debt and deciding how much to put into a building

30:33 – A look at the competition

34:51 – Effective marketing strategies

37:07 – How demographics impact their strategies

39:11 – The co-living space

40:34 – Cloud kitchens and how he would invest in these

46:11 – How autonomous vehicles will impact real estate

47:52 – Pros and cons of developing new properties vs buying existing ones

49:59 – Early stage investing interest

53:48 – Favorite business/entrepreneur story

55:10 – Advice for younger entrepreneurs

57:09 – Kindest thing anyone has done for Keith

 

Learn More

For more episodes go to InvestorFieldGuide.com/podcast

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

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