Faith Driven Investor

Join host Richard Cunningham with John Coleman and Brian McClard (Chief Investment Officer at Blue Trust) for the first-ever video edition of the Faith Driven Investor Marks on the Markets podcast. In this comprehensive market analysis, our panel discusses the Fed's decision to hold rates steady, the economic impact of Trump administration tariffs, and the exciting developments in AI and cryptocurrency regulation.Key Investment Topics Discussed:• Federal Reserve rate decisions and their 4.25-4.50% range - are we seeing appropriate monetary policy?• Trump administration tariff strategies with the EU, Japan, and their impact on inflation vs. economic growth• Market valuations at the 97th percentile historically - what this means for future returns• The breakthrough GENIUS Act providing regulatory clarity for dollar-backed stablecoins• AI's disruptive potential across industries and job markets - opportunity or threat?Notable Quotes:"We're paying 40% more now for earnings than we were 10 years ago, as we're looking at 22 times forward earnings. I think US returns going forward are likely to be more muted than what we've experienced the last five or 10 years." - Brian McClard"Anytime you have a spirit of fear, it's really originating from a lack of control. He's not given us a spirit of fear, but of power and of love and a sound mind." - Brian McClardThis marks-on-the-markets episode provides essential investment insights for faith-driven investors navigating today's complex economic landscape. Richard, John, and Brian bring decades of investment expertise while maintaining a biblical worldview on stewarding capital in uncertain times.Please note that the views expressed by the hosts and guests are their own and do not necessarily represent the opinions of Faith Driven Investor.

Ndidi Okonkwo Nwuneli, CEO of the ONE Campaign and a dynamic social entrepreneur from Nigeria, shares her insights on Africa's pivotal role in the global economy. She emphasizes the continent’s potential with a projected 2.5 billion people by 2050, urging investment in its rich food ecosystem. Ndidi discusses the importance of individual voices in shaping policy and advocates for faith-driven investors to make a real impact. She highlights that Africa is not a land of lack, but rather a treasure trove of opportunities for transformation.

Episode OverviewIn this July 2025 episode of Marks on the Markets, we dive deep into the venture capital landscape with two battle-tested VCs who've weathered the storm from COVID boom to AI revolution. Key Themes ExploredThe "Quiet Freakout" PhenomenonWhy even well-funded startups are secretly terrified about the next 6-18 monthsHow AI has created a "boxing match during an earthquake" for entrepreneursThe unprecedented uncertainty facing venture founders in 2025The Great Liquidity CrisisWhy LPs haven't seen distributions in years and what it means for new fundingThe IPO market's slow reopening and what it signals for exitsHow the DPI (distributions to paid-in capital) drought is reshaping the industryAI's Seismic ImpactWhy this technological shift dwarfs previous internet revolutionsThe emergence of AI-native companies and what it means for traditional softwareWhy we're likely underestimating AI's transformative powerThe Hardware RenaissanceHow software commoditization is driving investment toward "hard tech"The rise of American dynamism and defense technology startupsWhy friction is becoming the new competitive moatFaith-Driven InnovationLearning from social media's mental health failuresWhy Christian entrepreneurs feel called to shape AI's developmentBiblical frameworks for understanding technology's role in societyStandout Quotes"Everybody is quietly freaking out. You might have money in the bank, you might have venture backers, and yet everybody's quietly freaking out because you just don't know what's going to happen in three months, six months, three years." - Jake Thomsen"We are on the precipice of what could be the biggest series of technological changes in human history... more radical than at any point in history." - John Coleman"I continue to believe we are much more likely to underestimate the impact of AI than we are to overestimate it." - Rob Go"We kind of missed the boat in social media... We can't miss the boat with AI. Believers have to step in." - Jake ThomsenDeep Dive SegmentsThe Venture Market Transformation (03:22-15:36) Jake Thomsen provides a masterclass overview of venture's roller coaster ride from pre-COVID normalcy through the 2021-22 bubble, the 2022 crash, banking crisis, and today's AI-driven uncertainty.Four Forces Reshaping Early-Stage Investing (15:36-25:00) Rob Go breaks down the industry's permanent structural changes: maturation and concentration, Y Combinator's dominance, mega-fund competition, and the AI supercycle's 20-30 year horizon.The Optimist vs. Realist Debate (25:00-35:00) John Coleman makes the bull case for venture while Rob and Jake wrestle with ground-level challenges, exploring the disconnect between macro optimism and micro struggles.Hardware's Moment (35:00-45:00) Why the pendulum is swinging from pure software plays to capital-intensive "hard tech" solutions, and whether this represents a fundamental shift or temporary trend.Faith and Technology (45:00-49:07) A powerful discussion on how Christian entrepreneurs are approaching AI development with lessons learned from social media's unintended consequences.Guest ProfilesJake Thomsen - Partner at Sovereign's Capital, focusing on faith-driven founders and early-stage ventures. Previously worked in venture capital and strategic consulting.Rob Go - Co-founder and Partner at NextView Ventures, a seed-stage VC firm. 15+ years in venture capital with investments spanning consumer, enterprise, and frontier tech.Key Takeaways for InvestorsThe Power Law is Real: Top quartile VCs still dramatically outperform public markets, but the gap between best and worst performers has widened to 2,000+ basis points.Timing Matters: We're in the infrastructure phase of the AI revolution—similar to early internet days where enabling technologies capture initial value before applications flourish.Defense Through Friction: As software becomes commoditized, companies with hardware, services, or regulatory moats may prove more defensible.Liquidity Patience Required: The venture asset class needs patient capital as exit timelines extend and public market windows remain selective.Values-Driven Advantage: Founders building with clear ethical frameworks may have competitive advantages in an AI-dominated future.Resources MentionedHallow (Catholic prayer app)"God Looks Like Jesus" by Greg BoydAll-In PodcastY CombinatorReindustrialized Conference (Detroit)Connect with Our GuestsJake Thomsen: Sovereign's CapitalRob Go: NextView Ventures

Episode 200 marks a major milestone—not just for the podcast, but for an entire movement that's reshaping how investors think about capital, impact, and stewardship.In this celebration episode, Faith Driven Investor founders Henry Kaestner and Luke Roush take us back to the very beginning—from their first meeting at Joe's Diner in Durham (famous for hot dogs with mustard, chili, or just hot dog) to building Sovereign's Capital and eventually launching a global movement that now spans nearly 100 countries.The Origin Story Behind the Movement:How a matchmaker pastor named J.D. Grear connected two investors who would change everythingThe "Eastern Block Bodega" problem: too little product on the shelf and no line of customersWhy turning away 99 out of 100 entrepreneurs led to a "heartbreaking" realizationThe Holy Spirit moment that shifted everything from scarcity to abundance thinkingFrom Fund to Movement:The transition from Sovereign's Capital to Faith Driven Entrepreneur to Faith Driven InvestorWhy they decided to expose their own LPs to competing fund managersThe infamous John Porter story from Rwanda and what it taught them about being "tight-gripped"How a gathering at a French bistro with 25-30 leaders sparked something biggerThe Philosophy That Changed Everything: Henry and Luke dive deep into the shift from traditional "biblically responsible investing" (focused on what to avoid) to "faith-driven investing" (focused on what to support). This isn't just about screening out "sin stocks"—it's about actively seeking investments that promote human flourishing and build God's kingdom.Global Vision and What's Next:Why Africa represents the most exciting investment opportunity of our generationThe math that doesn't add up: $100+ trillion in managed assets globally, but only a couple hundred billion in explicitly faith-aligned productsWhy 60% of Americans identify as Christian but the investment numbers don't reflect itThe "top of the second inning" reality: we're still incredibly early in this movementKey Insights for Investors:The power of being known for what you're FOR rather than what you're againstWhy "one size fits one" when it comes to faith-driven investing approachesThe importance of seeking Godly counsel, prayer, and Scripture in investment decisionsHow spiritual integration looks different across asset classes (even oil and gas)

Robin John had a problem. He looked at the biggest mutual funds in America and realized he couldn't invest in their top holdings without compromising his values. So he and co-founder Finny started asking a different question: if investing is just allocating capital, where should Christians actually put their money?What started as a simple conversation about avoiding "ill-gotten gain" evolved into something much bigger—a framework for investing as an act of neighborly love. Instead of just screening out tobacco and pornography, Eventide began hunting for companies that actively serve their customers, employees, and communities.The results speak for themselves. Robin shares stories of biotech companies getting kids out of wheelchairs, trucking firms that let 90% of drivers sleep at home every night, and businesses that prove you don't have to choose between doing good and doing well. The data backs it up too—19 years of research shows values-based investing performs just as well as traditional approaches.This isn't feel-good investing. It's a fundamental rethinking of what stewardship looks like when you're managing serious capital. Robin's new book "The Good Investor: How Your Work Can Confront Injustice, Love Your Neighbor, and Bring Healing to the World" releases July 22nd, and this conversation reveals why he believes we're still in the first inning of a movement that could reshape how Christians think about money, work, and calling.

The economic landscape is shifting beneath our feet, and this episode of Marks on the Markets delivers the clarity you need to navigate what's ahead.Richard Cunningham and John Coleman sits down with Matt Monson, Partner of Public Equity at Sovereign's Capital, to dissect the most pressing issues facing investors today. The conversation begins with Moody's recent downgrade of US creditworthiness and what it signals about America's unsustainable fiscal trajectory—a $36 trillion debt problem that's finally getting the attention it deserves.Market Concentration and Hidden Risks The hosts dive deep into the Magnificent Seven phenomenon, revealing why having 30% of the S&P 500 concentrated in seven companies creates more portfolio risk than most investors realize. Monson shares his framework for analyzing tariff impacts across revenue and supply chains, while Coleman explains why this isn't just about stock picking—it's about understanding correlated risk factors that could catch investors off guard.Tariffs: Beyond the Headlines Moving past the political rhetoric, the discussion explores the real-world impact of trade policy on American businesses. From the company sourcing 100% of its goods from China to the complex web of global supply chains, listeners get an inside look at how tariff uncertainty is forcing businesses to stockpile cash and delay investment decisions. The hosts examine whether the current 90-day pause with China signals a path toward resolution or deeper economic disruption.Middle East Partnerships and AI Infrastructure The episode takes a strategic turn as Coleman and Monson analyze Trump's Middle East tour and the massive foreign direct investment commitments in AI infrastructure. They discuss why these partnerships matter for America's technological competitiveness and how they fit into the broader geopolitical and economic picture.Federal Reserve in an Impossible Position With inflation pressures from tariffs and a still-strong labor market, the Fed faces an unprecedented challenge. The hosts explain why rate cuts seem unlikely despite market volatility, and what this means for mortgage rates, business investment, and the broader economy.Faith-Driven Investing Insights The conversation concludes with practical insights for faith-driven investors, including Monson's compelling math on why your investment balance sheet—often 100 times larger than annual giving—represents an enormous opportunity for kingdom impact. The hosts share how the movement is evolving beyond traditional ESG frameworks toward employee flourishing and cultural excellence.Key Topics Covered:US credit downgrade implications and fiscal sustainabilityMagnificent Seven concentration risks and portfolio diversificationTariff impact analysis and business uncertaintyFederal Reserve policy constraints and rate outlookMiddle East AI partnerships and foreign investmentSmall vs. large cap performance cyclesFaith-driven investing trends and cultural impactThis episode offers both macro-economic analysis and practical investment insights for anyone seeking to understand how current events will shape markets and investment opportunities in the months ahead.

In this special episode recorded at SXSW in Austin, Texas, hosts Justin Forman and Richard Cunningham sit down with Brent Beshore, founder and CEO of Permanent Equity, to discuss what it means to take a long-term, cathedral-like perspective in business and investing.Brent shares his transformation from an achievement-driven atheist to a faith-focused entrepreneur, highlighting how his approach to private equity challenges industry norms with long-term capital, zero debt, and transparent fee structures. Throughout the conversation, Brent reveals how vulnerability and authentic relationships have been crucial both in his personal faith journey and in building a successful investment firm.Key Highlights:Brent's journey from atheism to faith and how it transformed his perspective on business, family, and achievementThe dangers of "acceptable sin" that starts small but eventually leads to devastating consequencesWhy living in the light through authentic relationships is essential for both personal healing and business successHow Permanent Equity's unique model of 30-year capital and no debt creates true alignment with business ownersThe concept of "cathedral thinking" - building something that may take generations to completeThe importance of community and authentic relationships in combating isolation, especially for successful entrepreneursWhy achievement, control, and self-reliance can be more dangerous addictions than substances

In this May 2025 episode of Faith Driven Investor, hosts Richard Cunningham and John Coleman welcome Deirdre Gibson, ETF Specialist and National Sales Director at Praxis Investment Management, for a wide-ranging discussion on faith-driven investing and current market conditions.Episode Highlights:Understanding ETFs vs. Mutual Funds (2:31-4:42)Gibson explains the structural differences between ETFs and mutual fundsKey advantages of ETFs: tax benefits, liquidity, transparency, and lower minimum investmentsHow ETF structure makes diversified investing more accessible to everyday peopleJesus as a Model for Engagement (7:39-12:03)Gibson shares insights from her Kingdom Advisors conference presentationExamines how Jesus engaged with sinners rather than avoiding themApplies this model to faith-driven investing: avoid, seek, engage frameworkMakes the case for strategic engagement with companies rather than only screening them outThe "Sullivan Principles" and Christian Influence (12:03-15:19)Coleman discusses how the Episcopal Church's 1971 engagement with GM over apartheid led to industry-wide changeHow Christians can use capital ownership to influence corporate behaviorThe missed opportunity when Christians only avoid rather than engageResearch on Faith-Aligned Investing (20:50-24:24)Praxis research reveals significant gap between investor desires and advisor actions70-85% of investors want values-aligned options while only 9% of advisors initiate these conversationsEvidence that clients are making investments outside advisor relationships when values-alignment isn't offeredTariffs and Market Analysis (29:01-41:42)Comprehensive breakdown of the Trump administration's tariff strategy and goalsAnalysis of four key administration objectives: reducing trade deficits, leveling playing fields, securing critical supply chains, and changing allies' position toward ChinaColeman's five-point framework for achieving a "soft landing" through modest and reciprocal tariffsMarket Outlook and Behavioral Finance (42:11-47:05)Disconnect between resilient economic data and fearful consumer/investor sentimentThe phenomenon of "home bias" in investment portfoliosThe importance of maintaining business confidence to avoid recession despite uncertaintyClosing Thoughts on Human Dignity in Economics (48:33-53:19)Discussion of valuing human contributions beyond productive capacityFaith perspective on economic disruption from AI and technology advancementBiblical frameworks for approaching economic uncertainty with confidence

Can you build a thriving business while facing back-to-back life-threatening crises? Travis Penfield did exactly that, transforming his brush with death from a brain tumor and his wife's cancer battle into clarity for scaling 49 Financial to 200+ advisors. His blueprint for bridging the trillion-dollar advisor succession gap prioritizes mentorship over metrics, revealing how personal trials became his greatest business advantage.Join us for this special joint episode of the Faith Driven Investor & Entrepreneur podcast. Key MomentsTravis shares his recent experience meeting Jack Nicklaus and John Maxwell, highlighting Nicklaus's emphasis on family over golf achievementsThe powerful story of Travis's brain tumor in 2016, requiring him to relearn basic functionsHis wife Jacqueline's cancer diagnosis and the emotional journey of shaving her head during chemotherapyThe doctor telling Travis to "prepare as if she's gone" and taking his daughters to San Diego while contemplating single fatherhoodHow these health crises fundamentally changed his approach to business success and identityBusiness Insights49 Financial's three-pillar strategy: handling more complex issues, offering more services, and building more communityThe company's focus on young advisors (22-year-olds) in an industry where the average advisor is in their upper 50sHow 49 Financial is addressing the industry-wide 9% retention rate for new advisorsTravis's shift from "quantity over quality" to "quality over quantity" in building his businessHis vision for bridging the gap between aging advisors with trillions in assets and the next generationFaith PerspectiveHow facing mortality transformed Travis's relationship with God and clarity about prioritiesThe role of childlike faith in entrepreneurship versus the challenges of maintaining bold faith as a business maturesUsing their platform to help clients turn "tax dollars into giving dollars" through strategic charitable planningThe daily struggle of enjoying present moments while awaiting his wife's five-year cancer-free milestoneQuotable Moments"I think maybe a lot of entrepreneurs out there, it is so easy, even as believers, to make our business our identity. And it's such a sneak.""It puts you in a different place in your faith when each one of you experience the thought of losing the other one within a day.""If the business doesn't make it, it's okay. If the business does hit that growth goal, it's okay... I'm going home to my bride.""My heart and why 49, as long as I'm around, is going to be for the young person.""We're going to turn tax dollars into giving dollars."

In this timely market analysis, Crossmark Global Investments' Bob Doll joins Richard Cunningham and John Coleman to dissect the dramatic market correction of Q1 2025 and the economic uncertainty driving it.Key Topics Covered:The fifth fastest market correction since WWII and what caused itTrump administration's economic strategy: taking pain upfront for potential gains laterTariffs as revenue generators vs. inflation driversRising recession probability (now 35-40%) amid continued uncertaintyThe "Magnificent 7" tech stocks' slowing cash flow and what it means for portfoliosGeopolitical outlook for Russia/Ukraine, Middle East tensions, and China's vulnerabilitiesWhat could restore market confidence in coming monthsFuture of M&A activity and IPO markets amid regulatory changesFaith-driven investing insights and the need for patience in volatile timesBob shares his current recession probability assessment and what economic indicators he's watching closely. The discussion explores how the administration's aggressive early moves—particularly around tariffs and budget cutting—are creating short-term market turbulence but could potentially lead to economic benefits if properly executed.The conversation concludes with personal reflections on patience, humility, and maintaining proper perspective as faith-driven investors during uncertain economic times.Recorded on April 1, 2025