Talking Billions with Bogumil Baranowski

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.

Justin Castelli, a life planner and creator, shares insights from his journey as the founder of RLS Wealth. He discusses the value of living an authentic life and how it intertwines with effective financial management. Justin emphasizes aligning passions with financial goals while embracing creativity in wealth-building. He reflects on childhood influences on money, the importance of genuine connections, and the transformative impact of literature like Thoreau's 'Walden' and 'The Alchemist' on his quest for fulfillment.

Andy Busser, CEO of Pitcairn, leads a 100-year-old family office that has evolved to serve multi-generational families. He shares insights on the importance of discipline and patience in investing, emphasizing long-term strategies. The discussion highlights how effective leadership balances discomfort and accountability. Andy also delves into the historical roots of the Pitcairn family office, the intricacies of managing family wealth, and the essential role of communication in preserving wealth across generations.

Jeff Gilbert, a forensic accountant and educator at Asper School of Business, takes the reins in this engaging chat. He and Bogumil Baranowski discuss the power of ethical investing and building trust-based relationships, drawing parallels with brands like Apple. They analyze innovation's impact on businesses by contrasting Kodak’s decline with Netflix's rise. The conversation also touches on the emotional narratives surrounding wealth and emphasizes the long-term thinking necessary for successful investing.

In this insightful conversation, Adam Mead, founder of Mead Capital Management and author of **The Complete Financial History of Berkshire Hathaway**, shares his journey as a professional investor. He explores the art of investing, emphasizing human psychology and diverse mental models. Mead reflects on the transformative experiences at Berkshire Hathaway's meetings and the importance of adaptability in investment strategies. He discusses the challenges of running a one-man firm, compliance, and the emotional complexities of client relationships, all while injecting humor and personal anecdotes.

My guest today is Cristina Espinal. She was born in Venezuela, lived in the US and Asia, made the UK her home, and joined me from Madrid today. After a successful first career, she decided to pivot, follow, and trust her curiosity. She helps ambitious mid-career professionals gain the clarity and confidence to secure bigger, more aligned roles and turn their uniqueness into a side business. Her Play Big newsletter is a fascinating read—all links are in the notes below. She has a great passion for the work she does and shares many inspiring stories. I learned a lot and enjoyed this discussion very much—I trust you will, too. My dear friend Matt Zeigler had something to do with connecting us—thank you, Matt. You are one of Talking Billions' patron saints, but you know it already. If you are not following Matt, you should—look up his Cultish Creative blog, Just Press Record, and the Intentional Investor Podcast—both are phenomenal, and I’m not just saying that—I read, watch, and listen to all three. Please help me welcome Cristina Espinal! Takeaways: Self-reflection and understanding our stories and beliefs are crucial for personal growth. There are multiple paths to making a difference, and it's important to define success on your own terms. Playing big means uncovering who you are and challenging the default path. Expanders, people who inspire, challenge, support, and are vulnerable, can help us grow and achieve our goals. Stress addiction is a societal issue that keeps individuals in a constant state of chronic stress. Defining success based on personal values and having an inner scorecard leads to fulfillment. Rejection can be seen as a redirection towards a more aligned path. Rejection can lead to new opportunities and a more aligned path. Confidence is a skill that can be developed through taking small steps outside of one's comfort zone. Trust is built through vulnerability and the willingness to make oneself important to someone else. Asking better questions involves being present, leading with curiosity and compassion, and considering the context. Infinite games are those that bring joy and fulfillment, and they should be prioritized in life. https://playbig.beehiiv.com/ https://www.linkedin.com/in/cristinaespinal/ https://www.linkedin.com/posts/cristinaespinal_in-june-2020-my-career-hit-a-wall-i-was-activity-7171852818574745600-RqCG 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.

John Candeto, Founder and Managing Partner of the Phronesis Fund, explores the intriguing intersection of complexity and investing. He emphasizes that survival is key to investment success and highlights the importance of power laws in wealth growth. Candeto challenges traditional statistics, advocating for a long-term perspective over short-term fluctuations. He discusses values-based decision-making and the significance of asking the right questions to navigate complexity. Additionally, he shares insights on balancing structure with serendipity to enhance creativity.

R P Stevens, a personal finance author and YouTuber known as 'The Sloth Investor,' shares his unique approach to investing, advocating for a patient, long-term perspective. He emphasizes that success in investing often mirroring the slow and steady nature of a sloth can yield greater rewards. Through engaging anecdotes, he addresses common psychological barriers and stresses financial literacy as a key to overcoming them. R P inspires listeners to view investing as a lifelong journey, emphasizing that meaningful engagement can transform apathy into action.