Capital Club

Winston Justice is an Investment Manager at Alliance Bernstein and a Co-Founder of Electro Coffee Shops. He was a former National Football League Player – the League’s 2010 Walter Payton Man of the Year and has now recruited as financial advisor of Bernstein Private Wealth Management. Winston started Wealth Management in 2015 at Wells Fargo Securities in Southwest Florida. He earned a Bachelor's Degree in Public Policy from the University of Southern California and had his MBA Degree from George Washington University.[00:01 – 07:07] Opening SegmentI welcome our guest for the episode, Winston JusticeWinston talks about his backgroundPivoting successfully in the business from being a National Football Player[07:08 – 18:24] Making an Identity from an Athlete to Corporate OfficeDealing with career transitionAthlete’s mindset in building their platforms and creating their networkCatching up in a Big Corporate WorldWells Fargo SecuritiesEarning Degrees and Certifications from UniversityMaking the Post-Career PlanSurrounding with the best peopleSeparating identity as a Player vs being an associate in the office[18:25 – 30:24] Moving with Career and Passion  What happens next being at Wells FargoFinancial ManagerPortfolio ManagerDifference between going to a big wirehouse to a boutique shopThe adjustments in moving from Southern California to Middle Tennessee  Becoming a Christian and going in Mission TripsLaunching Coffee ShopsVenture capital fund and finance[30:25 – 37:06] Closing SegmentWhat does success look like for Winston Justice?Where does he spend most of his time?Does he still keep up and watch the game? Connect with Winston. See Links Below.Final wordsTweetable Quotes:“If you surround yourself with the right type of people, when a problem does arise, a biz issue or you have something you want to pursue, you do pull in and ask those questions to get this knowledge and to make a more educated choice.” – Winston Justice“People would rather talk with a current player that’s actually playing, than one that hasn’t.” – Winston Justice“Real value is actually roll-up your sleeves and being part of the process of expanding the revenue and not just making investment and hoping it works out.” – Winston JusticeResources Mentioned: Alliance Bernstein------------------------------------------------------------------------------Connect with Winston! Visit their website at https://www.bernstein.com/ and send him an e-mail at winston.justice@bernstein.com Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Haley Zapolski is the Renew Nashville Program Manager for Nashville Entrepreneur Center. She finished her degree in Economics and a Minor in Sustainability and Urban Studies from the University of Michigan.[00:01 – 05:01] Opening SegmentI welcome our guest for the episode, Haley ZapolskiHaley talks about her backgroundHer role at Nashville Entrepreneur Center[05:02 –  19:51] The Entrepreneur CenterWhat is The Entrepreneur Center?Their purpose to help grow the entrepreneurial landscape in NashvilleNavigating COVID throughout 2020The surge of the Tech industry during COVIDThe opportunities you can find with EC[19:52 –  25:23] STARTUPSWhat it takes to turn a small idea into a business ventureDeveloping a mindset to go against the traditional thinking of how to build wealthRed flags for people to watch out for when getting started on a venture[25:24 –  31:52] Leadership and Management at ECLeadership and general work ecosystem at ECThe future plans of EC for the next 12 months[31:53 –  35:36] Closing SegmentHer goal of helping non-traditional founders get in the game of entrepreneurshipConnect with Haley. See Links Below.Final wordsTweetable Quotes:“Entrepreneurship is a radical act in today’s day and age. It’s a very special thing to get involved with.” - Haley Zapolski“You can read a million books about how to start a company and it’ll never answer your questions, it’ll never make you feel better. Sometimes, it’s just having a conversation with someone who’s been there, done that, or is going through the same thing.” - Haley Zapolski“Entrepreneurship is definitely non-traditional thinking, it’s not what they teach you in school. They don’t teach you how to start a company, they teach you to probably work for someone else.” - Haley ZapolskiResources Mentioned: Nashville Entrepreneur Center------------------------------------------------------------------------------Connect with Haley on Linkedin, send her an email at hailey.zapolski@ec.co Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Eller Mallchok is the Managing Director at Jumpstart Foundry. She oversees the strategic direction of each annual fund, leads fundraising efforts, and serves as the point of contact for all portfolio company founders. After earning a B.S. in Biology from Dickinson College, she made her way back home to Tennessee, where she has been deeply involved in the entrepreneurial and investment ecosystem.[00:01 – 07:47] Getting to Know EllerI welcome our guest for the episode, Eller MallchokEller talks about her backgroundHer role at JumpstartWhat encouraged her to become part of Jumpstart FoundryInvesting with female founders and healthcare start-ups[07:48 –  17:25] Venture Capital IndustryEller’s experience as a woman in the industryWomen representation in the venture capital industrySignificance of the ‘Black Lives Matter’ and ‘Me Too movement’ in the investment world[17:26 –  32:51] Jumpstart FoundryThe difference of Jumpstart Foundry from a Traditional VC FundTypical volume of applications they receiveHelping the majority of companies achieve “base hits” rather than one company to hit a homerunThe power of the network they have at Jumpstart FoundryHealthcare industry in Nashville[32:52 –  42:51] Closing SegmentThemes in management teams that prove successfulCommon things that result to startups failureIf you were speaking to a student, a recent graduate, or a woman who wants to get into the Venture Capital Industry. What advice would you give?Connect with Eller. See Links Below.Final wordsTweetable Quotes: “I think women inherently have more experience and more exposure to healthcare decisions. They are typically the ones making the most health care decisions in their family unit. So they are acutely aware and understand healthcare.” -  Eller Mallchok“Two of the things that most often results in startups failing are: no market need and running out of money. So if you can address both of those potential points of failure, then you’re much better positioned for success.” - Eller Mallchok“the power of your network early on is very very real. Getting even just connected to people in this space is important, and doing whatever you can to bring value to them.” - Eller Mallchok Resources Mentioned: Jumpstart FoundryDickinson College------------------------------------------------------------------------------Connect with Eller, follow her on Linkedin, send her an email at eller@jsf.co. Visit https://jsf.co/ Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Hello, and welcome to the conversation on Colloquium. Today I’m excited to have Shawn Goheen of the Goheen Companies with me. Shawn is nationally recognized throughout the country specializing in premium finance life insurance. He is a 28 year veteran in the insurance industry and his reputation has been solely built on relationships and his ethical doings.[00:01 – 11:31] Shawn Goheen and Goheen CompaniesI welcome our guest for the episode, Shawn GoheenShawn talks about his backgroundHow he got into the life insurance businessPremium finance life insuranceGoheen Companies clienteleWhat sets them apart from others in the same spaceHaving a service team around youThe right time to get premium insurance involved in the processCollaterals their clients use to structure transactions[11:32 –  21:08] MSO and Premium FinanceEffect of rising rates of interest to their business and dealsWhy it makes sense to overfund a high-value life insurance policyManagement service organizations(MSO)Estate planninglife insurance benefitsShawn’s advice to clients in terms of premium finance insuranceLessons learned from Shawn’s career in the premium finance businessThe best time they can best serve their clients[21:09 - 23:20] Closing SegmentConnect with our guest. See Links Below.Final wordsTweetable Quotes: “For individuals looking to get into this space, you have to have the banking relationships, clients that want to get into it, and know the pitfalls of it.” - Shawn GoheenResources Mentioned: Goheen Companies------------------------------------------------------------------------------Connect with Shawn on Linkedin or send him an email at shawn@goheencompanies.com or kcoggin@goheencompanies.com  Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Welcome to the conversation on Colloquium. Today I’m excited to have someone I met through the pandemic, virtually, Tim Pawul. He is the President of the Minerals & Royalties Council.[00:01 – 15:04] Tim and The Minerals and Royalties CouncilI welcome our guest for the episode, Tim PawulTim talks about his backgroundHis role in The Minerals and Royalties CouncilThe Energy CouncilHis pivot towards the Mineral spaceLaunching the Minerals & Royalties podcastEducating the industry about Minerals & RoyaltiesTim talks about mineral rights royalty[15:05 –  36:14] Royalties and Minerals MarketOptions for individuals to invest in the Royalties and Minerals marketGrowing trends in the marketEducating groups on the potential of the spaceThe purpose of the minerals spaceHaving due diligence and taking the time to understand the trends and flow of the marketTim’s thoughts on the energy marketsResources to educate yourself in the mineral spaceCheck out the Minerals and Royalties Council[36:15 –  43:32] Investment Advice from TimTim’s advice for investors in response to the Biden Administration’s plan in the marketIdeal states to be investing in with regards to oil and gas marketsThe right way to get started investing in the oil and gas markets[43:33 - 45:25] Closing SegmentConnect with Tim. See Links Below.Final wordsTweetable Quotes: “It doesn’t matter where we go moving forward. It’s so incredibly important that cheap reliable energy is produced, because it’s the fabric of society for anything we do.” - Tim Pawul“Do your homework. Meet with lots of different teams. Try to get a tasting menu of what’s out there, what strategies. Then pick something you like, and give it a go.” - Tim PawulResources Mentioned: Minerals & Royalties Council | Energy CouncilEnergy Council Podcasts------------------------------------------------------------------------------Connect with Tim on Linkedin. Send him an email at tim.pawul@energycouncil.com. You can also visit https://energycouncil.com/, to learn more.Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

For this episode, we’re joined by Chris Cerrone. He is a Partner at Akre Capital Management. Prior to joining Akre in 2012, Chris served as an equity research analyst for Goldman Sachs & Co. in New York from 2010 to 2012. In that position, he covered restaurant and retail companies.He began his investment management career in 2007 as a junior equity research analyst with Century Capital Management in Boston. Chris graduated Summa Cum Laude with a B.A. in Economics from Tufts University.[00:01 – 07:13] Chris and Akre CapitalI welcome our guest for the episode, Chris CerroneChris talks about his background and Akre CapitalBeen a partner for 9 yearsFounded in 1989The 3 legged stool of AkreThe focus of AkreBuilding a portfolio of high-quality businessesSector alignments[07:14 –  26:20] The Art of Not SellingThe Art of Not SellingImpact of Politics, Economy, and Valuation on their PortfolioFocusing on businesses that are not as sensitive to political regime changesSelling businesses not based on ValuationThe Enemies of CompoundingAn illustrative riddle that shows the power of compoundingBuilding and maintaining relationships with the right people in the industryOne of the biggest mistakes Chris made[26:21 –  32:35] Investment Advice from ChrisHow to train ourselves to be better disciplined and hold long termAchieve deep understandingSimplifying everythingChris’ thoughts on the “Robin Hood’s” of the Market and the whole GameStop situation[32:36 – 41:04] Quick Hitting Questions with ChrisChris’ view on the trajectory of the Stock Market for the rest of the yearTests to base their decisions in their stock investmentsRecommendations from Chris[41:05 - 43:15] Closing SegmentConnect with Chris. See Links Below.Final wordsTweetable Quotes: “We don’t sell businesses on the basis of valuation.” - Chris Cerrone“There’s nothing worse than underestimating your management teams, moving on from the business and watching them do terrific things, and you are not there to participate.” - Chris Cerrone“Compound Interest is the 8th wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” - Albert Einstein“The simpler ideas tend to do better in time. Simplicity to me is one of my guiding principles, and I think it really does help.” - Chris CerroneResources Mentioned: Akre Capital ManagementThe Art of (Not) Selling - Chris Cerrone------------------------------------------------------------------------------Connect with Chris, visit https://www.akrecapital.com/ Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Ron has been recognized with many awards for the success of Source Security & Investigations and his leadership within the company, including BDC Young Entrepreneur Award, five times Atlantic Business Magazine’s Top 50 CEO Award, Junior Chamber International Outstanding Young Person Award, Remy Martin Bold Five under 35 and Ernst and Young Entrepreneur of the Year finalist. Ron Lovett is an entrepreneur and leader with a passion for change. He builds brands that challenge and disrupt their industries. Ron loves going back to the drawing board by creating companies with a purpose.[00:01 – 07:23 ] Opening SegmentI welcome our guest for the episode, Ron LovettRon talks about his backgroundhow he came into real estate businessSource Security & Investigations[07:24 – 16:33] Creating Community Workforce Housing and Affordable HousingProblems today in Workforce HousingHow the branding fits to the solution[16:34 - 38:19] Adding Value to People’s LivesThe Business Plan to scale the businessBuilding relationships with community How they pick for the right people coming on boardCreating trust between tenants and landlordsDouble bottom-line business where you are doing good and doing wellHow does this business make money Accuracy assets and liquidity event[38:20 - 43:10] Closing SegmentConnect with Ron. See Links Below.Final wordslessons he learned from past businesshow he applies it to entrepreneurial businessTweetable Quotes:“I believe, through my experience that a lot of businesses like Workforce Housing, the customers there have untapped potential that we are not tapping into. And so, as  unorthodox it sounds, I wanted to tap into that in, as tenants, not just as employees as I’ve done in the past.” - Ron Lovett“When you sell, when you actually sell an asset, then you crystalized what you’ve done.” - Ron LovettResources Mentioned: VIDA livingScaling Culture Podcast------------------------------------------------------------------------------Connect with Ron, follow him on LinkedIn. Check out his website at http://ronlovett.ca/ Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Charles Freeman is the president of AdaptFirst Investments. He is a chartered financial analyst in partners with financial advisers to provide investment support and resources in a much more personal way. This includes model investments, customs portfolios, individual stock research, industry and sector analysis, and more.[00:01 – 08:30 ] Opening SegmentI welcome our guest for the episode, Charles FreemanCharles talks about the state of Public Markets as of January 2021He also talks about the real academy and stock market  [08:31 –  25:43] Rising and Falling Charles perspective in terms of the market and the broader economythe support that Fed has given on the monetary and fiscal side   Charles talks about his researchMetrics that Charles tracks to gauge inflationHousing and Health CareCalculating home crisisThe factors concerning deflation and inflationStrategies to play this market at the present timeRisk Manage ApproachSectoral Approach on Equity exposure[25:44 - 38:20] Looking in the MarketsEmerging Markets and Frontier MarketsThe difference between having a broad market exposure and being more thematicDoes debt on the Federal or Sovereign level matter in terms of ratio in GDP?[38:21 - 50:17] Closing SegmentHis thoughts about the energy sectorMarket properties owned by CharlesConnect with Charles. See Links Below.Final wordsTweetable Quotes: “What I’ve learned over the last twenty years is that when you start getting too thematic you can make a really convincing argument for a certain thing, and then it might just not happen, and then you mess up. So, I think taking a broad market approach makes sense there.” - Charles Freeman “What they tried to do is moderate the normal business cycle but in doing that I think what the trade-off is what you’re doing is you’re creating a ‘Boom And Bust Cycle’.” - Charles Freeman“It’s diversifying their portfolio, right? It is not being so dependent on oil specifically. It’s gonna be sort of multi-approach of, you know having all of those things available. I mean that’s the only way they’re gonna survive.” - Charles FreemanResources Mentioned: Ben BernankeJanet YellenTesla------------------------------------------------------------------------------Connect with Charles, follow him on LinkedIn. Check out his content/articles and guestings at www.adaptfirst.com. Send a direct email to charles@adaptfirst.com Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

In this episode, I brought in Kevin Erdmann to talk about contrarian theory on the cause of the housing boom and bust. Kevin was a small business owner for 17 years and in 2010 he sold his business and earned his Master’s Degree in Finance from the University of Arizona which allowed him to get grounded in real-world experience in investing within the rigor of the Academy.Since 2013, he has blogged about his contrary observations on investment strategies and research. He is a visiting fellow at the Mercatus Center at George Mason University, where he and I connected through a mutual connection. He is currently engaged in two book projects with Mercatus on Housing Finance, land use restrictions, and monetary policy. His first book, Shut Out (Rowman & Littlefield, 2019), offers a contrarian theory on the cause of the housing boom and bust.[00:01 – 04:03] Opening SegmentI welcome our guest for the episode, Kevin ErdmannKevin Erdmann talks about his backgroundHis business and how he eventually found his way back to school[04:04 – 21:23] The Mercatus CenterHow Kevin found his way to The Mercatus CenterHis work and focusKevin talks about his researchReferencing to the film The Big ShortVarious sections of the country affected by The recessionCalculating residential investmentsThe regulatory bodies responsible for encouraging/allowing developersThe real difference between coastal cities and the rest of the country[21:24 – 51:16] The eventual cause of The Great RecessionExtreme difference between various types of cities in the countryRise of rent rates just about everywhere across the countryRelative pricing differential in different types of neighborhoodsThe most effective way to increase the price to rent ratio on a houseCause of a structural failure in the housing market in The Great RecessionFactors of migration in each cityThe rate of Homeownership pre and post-crisisRates of each age group of homeownersPredatory lending and unequal access to credit[51:17 – 1:01:35] Closing SegmentA fix for The Housing Shortage/ProblemWhat the housing market has createdConnect with Kevin. See Links Below.Final wordsTweetable Quotes:“There’s a real difference between coastal cities and the rest of the country. It’s almost like you have to go to those cities and experience it to really get a sort of feeling for it, how difficult it is to get from an idea to building something around half the size you wanted.” - Kevin Erdmann“I think across the country, we need to make sure we turn a corner and find ways to make it easier for multi-unit to be a building choice.” - Kevin Erdmann“Quantitatively, the most effective way to increase the price to rent ratio on a house, paradoxically is to increase its rent.” - Kevin Erdmann Resources Mentioned: Shut Out - Kevin ErdmannMercatus Center------------------------------------------------------------------------------Connect with Kevin, follow him on LinkedIn. Check out his content/articles and guestings at https://www.mercatus.org/scholars/kevin-erdmann Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Brittany Cole is a Professional Speaker, Career Coach, and consultant. She studied Political Science and Communications at The University of Tennessee, Knoxville, and earned a certification in Strategies for Building and Leading Diverse Organizations from The Harvard Kennedy School of Public Policy.As a former sales and marketing leader, Brittany has experienced how intentional leadership development increases colleague engagement, accelerates career achievements, and drives business results. In addition to her corporate achievements, Brittany founded Career Thrivers, which is a leadership development firm that partners with organizations to engage, develop and retain diverse talent through targeted leadership development.[00:01 – 09:36] Opening SegmentI welcome our guest for the episode, Brittany ColeGet access to Brittany’s bookSee Links belowBrittany talks about her backgroundHer corporate careerHelping others, especially people of color improve their careersShift and Policy changes brought about by the new regime[09:37 – 16:29] Thrive Through ItWhat led Brittany to write her bookHelping people make the shift in terms of their view on resilienceRedefining the view on resilienceThe intention of the road map[16:30 – 42:50] Grief, Grit, GraceGriefPowering through inequities in the workplace as a black womanLikeability biasGritThe right way and healthy way to think about GritLeaning into vulnerabilityDecentering ourselves to approach hard conversationsGraceExtending grace[42:51 – 48:20] Closing SegmentActionable things you can do to make a more diverse and inclusive workforceHaving leadership involvement and investmentPlans should be connected to the business strategyHaving an integrated learning and development strategyFinal wordsTweetable Quotes:“My father would always tell my brothers and I that the biggest room in our house is the room for improvement.” - Brittany Cole“The catalyst for the book is really around helping people make the shift in terms of how we view resilience.” - Brittany Cole“Grief is so individualized, so complex, and so unpredictable.” - Brittany ColeGrit is about showing up authentically and leaning into that vulnerability. To have those tough conversations, to embrace being uncomfortable, but also to reveal, transparently, where you are so that you can fully heal.” - Brittany ColeResources Mentioned: Thrive Through It - Brittany ColePfizerCrucial Conversations------------------------------------------------------------------------------------------Connect with Brittany, follow her on LinkedIn, Twitter and Instagram. Visit https://www.careerthrivers.com/ Connect with Excelsior GP:Excelsior GP WebsiteLinkedInYouTubeConnect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.