In this insightful discussion, Bogumil Baranowski, a TEDx speaker and investment advisor specializing in generational wealth, shares his journey from Poland and the importance of managing wealth responsibly. He reflects on childhood experiences post-communism that shaped his financial philosophy. The conversation also touches on finding peace in nature during the pandemic and how surfing offers clarity. Baranowski emphasizes kindness in financial advising and highlights how familial connections influence values around money, stressing a legacy built on authentic relationships.

My guest today is Howard Lichstrahl, a dear friend, fellow investor, and investment advisor with many decades of experience and a solo operator of a successful, long-lasting investment practice. Howard and I have shared many calls and meals over the years, and this is our first-ever recorded conversation. We start with a chance encounter with the legendary Irving Kahn, Benjamin Graham’s teaching assistant, who changed the course of Howard’s life. We continue with a lifetime of investment stories and experience. Howard has lots to share about the long-term success investing in stocks. Takeaways: Investing requires time and patience for compounding to work. Human nature often leads to emotional decision-making in investing. Understanding market dynamics is crucial for successful investing. Long-term thinking is essential for achieving financial success. The investment philosophy should align with client expectations. Market crashes reveal the importance of maintaining perspective. The evolution of technology has changed investment practices significantly. Successful investing is about understanding the underlying businesses. Defining success goes beyond financial metrics to include personal fulfillment. Building relationships with clients is key to sustainable investing. Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed.  Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

My guest today is a family business advisor helping enterprising families navigate the intricacies of being family in a family organization. His experience in supporting families comes from both his own experience as the 3rd generation owner and board member of a global family business as well as his experience as an entrepreneur, coach, management consultant, and seminarian. https://family.inc/ Takeways: Growing up in a family business shapes one's identity. Community perceptions can impact family dynamics. Family businesses often have a longer investment horizon. Professionalizing operations is crucial for sustainability. High-performing families can pivot in challenging industries. Employee relationships are prioritized in family businesses. Navigating wealth requires understanding and communication. Family first: prioritize relationships over business. Liquidity options can help family members exit gracefully. Understanding past challenges informs future decisions. Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed.  Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

Julia Carreon, a Business Transformation and Integration Executive, shares insights from her journey in wealth management. She discusses how Gen Z's tech-savvy nature is reshaping client expectations. Julia emphasizes that technology should enhance, not replace, personal interactions. She advocates for understanding generational differences and the importance of active listening in fostering client relationships. Her personal experiences highlight the significance of serving others and redefining success through impactful leadership.

Ted Seides, a renowned podcaster and bestselling author, explores the world of private equity and its transformative impact on businesses. He discusses the critical role of aligning incentives for success and how private equity managers influence about 10,000 businesses. Ted challenges negative media portrayals, highlighting that private equity offers unique decision-making advantages. He emphasizes employee ownership as a catalyst for performance and introduces the concept of permanent equity, advocating for a broader definition of success that prioritizes fulfillment in work.

Derek Sivers, a musician, circus performer, and entrepreneur, shares insights from his book, 'Useful Not True.' He delves into the idea that almost nothing people say is objectively true, emphasizing the usefulness of thoughts over their truth. The conversation touches on personal beliefs, the subjectivity of perspectives, and how reframing can empower individuals. Sivers encourages listeners to adopt beliefs that work for them, illustrating how one's perspective shapes identity and success in both personal and professional realms.

Jim O’Shaughnessy, a Wall Street veteran and best-selling author, shares insights on the intertwining of success, resilience, and curiosity. He emphasizes that success is a continuous journey and discusses how AI can enhance creativity while maintaining human touch. O’Shaunessy also reflects on his unique upbringing, the impact of the COVID pandemic on work culture, and the potential of niche markets in a digital landscape. With humor and wisdom, he advocates for embracing failure and building meaningful relationships.

Philippe Gijsels, Chief Strategist at BNP Paribas Fortis and co-author of "World Economy in 5 Trends," shares his insights on navigating today's economy. He discusses how childhood experiences shape financial perspectives and emphasizes the importance of owning real assets during inflation. Gijsels presents a three-window framework for investment, highlights the need for innovation in renewable energy, and explains the alligator principle in investing—cutting losses quickly. He also examines the interplay of interest rates and globalization in shaping future economic trends.

This week, Dave Specht, an expert on family businesses and author of "The Family Business Whisperer," shares insightful perspectives on wealth and continuity. He discusses how upbringing shapes financial attitudes and the importance of cultivating an ownership mentality in future generations. Specht emphasizes the role of spouses in family dynamics and the need for transparency in decision-making. He also redefines wealth to include well-being and the value of nurturing gratitude and grit in children from affluent backgrounds.

Edward Vesely, a Senior Investment Advisor at The Motley Fool Australia, engages in a captivating conversation about long-term investing. He emphasizes treating stocks as ownership in businesses, advocating a patient, generational approach to wealth creation. The discussion highlights the critical role of financial literacy, mentorship, and communication within families managing inherited wealth. Vesely encourages individuals to take an active interest in investments and see them as a second career, promoting continuous learning and effective financial management.