Capital Club

Today, we have Elizabeth Bagger as our guest. She is the founder of Avanti Family Business Advisory and a board member of her family business. Given her diverse international background and expertise in various subjects, our discussion explores Elizabeth's perspectives on handling family dynamics, promoting family connections, engaging family members, and embracing a comprehensive approach to business and personal well-being.[00:00 - 13:56] - Navigating Family Dynamics: Insights from a Family Business ExpertHow Elizabeth combines her global experiences with family business expertise Learn the difficulties of being a family business advisor and its complex dynamicsDiscover why good communication is crucial for family businesses[13:57 - 24:50] - Fostering Family Bonds and EngagementEngage in open conversations with the next generation’s aspirations and dreamsCultivate an atmosphere of patience and genuine dialogue for transparent discussionsLet the family regroup and find common ground prior to reviewing the succession plan[24:51 - 35:10]  A Holistic Approach to Business and Personal HealthFocus on family values by defining its purpose and mission Create a plan for how the family owns, communicates, and conducts meetingsResolve communication issues with guided conversations between different generationsKey Quote:"Clear communication is vital within families. It's essential to establish a specific time and place for discussions. When and where should these conversations take place?" - Elizabeth BaggerConnect with Elizabeth Bagger!Website: https://avanti-fba.com/LinkedIn: linkedin.com/in/elizabeth-bagger-3b91453This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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.

Ever wondered about the true potential of AI, its impact on our lives, and the fine line between innovation and regulation? In this episode, dive into a conversation with Daniel Jeffries, Managing Director of the AI Infrastructure Alliance. From debunking AI myths to navigating the delicate balance of open-source innovation and risk aversion, we explore the dynamic landscape of technology. Join us as Dan shares insights on the global narrative surrounding AI, the importance of open societies, and why embracing new tech is the key to societal prosperity. [00:00 - 11:49] - A Balanced Perspective on AIAI, like any technology, spans from good to evil in its applicationsConcerns about AI harm are viewed as attempts to hinder competitionSocietal benefits of AI: material science advancements and improved healthcare diagnostics[11:50 - 25:50] - Open Source AI Development and RegulationOpen-source AI development is crucial for innovation and progressMisuse of AI should not hinder open development but be addressed through lawsThe GDPR and EU AI Act may stifle open source and smaller firms[25:51 - 32:19] - AI Agents and SingularityAI agents are smart applications designed for real-world tasksAgents enhance efficiency for individuals and small businessesSkepticism surrounds the feasibility and timing of the singularity concept[32:20 - 40:51] - Personal Growth and Self-Improvement Change requires addressing real problems, not just relying on positive thinkingOvercoming depression involves ending toxic relationships and self-reflectionClarity in thinking is crucial to distinguishing real from imaginary issuesResource MentionedThe Turning Point for Truly Open AI is NowKey Quote:"Every technology in history can be used for good, bad, and everything in between. Everything exists on a continuum of good to evil, and it's a spectrum." - Daniel JeffriesConnect with Daniel Jeffries!Substack: https://danieljeffries.substack.com/Website: https://ai-infrastructure.org/Twitter: https://twitter.com/dan_jeffries1?lang=enThis episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Hosted on Acast. See acast.com/privacy for more information.

Unravel the intricacies of charisma, explore the organizational DNA through the lens of fractals and dysfunction, delve into the science of innovation, and uncover the disciplined approaches to fostering creativity. Our guide on this exploration is Judah Pollack. He is an author and executive coach who has worked with everyone from Army Special Forces to the Founders of Airbnb to social good founders. [00:00 - 09:40] - Unveiling the Three Pillars of InfluenceDiscovering the power of charisma and unraveling its mysteriesHow the 3-part framework —power, presence, and warmth—synergize to form a compelling charismaWhy a harmonious blend of the three elements is essential for effective leadership and fostering genuine connections with others[09:41 - 22:33] - Organizational DNA: Fractals, Dysfunction, and Leadership PatternsThe paradoxical allure of military experiences in non-military career circlesDrawing parallels between fractal patterns and a company's foundational DNACreating an environment where open communication and problem-solving can thrive[22:34 - 33:03] - Innovation: Brain Science, Breakthroughs, and Creative HabitsUnderstanding the brain's intricate networks that drive innovative thinkingThe significance of creating a workplace culture that values and encourages innovative thinkingEmphasizing the transformative impact of consistent actions and disciplined routinesBuilding new neural connections by introducing creative habits and new information[33:04 - 49:54] - Finding Clarity and Inspiration in NatureNavigating effective brainstorming on structure, silence, and breakthroughsWhat it takes to invite the state of flow - timing, taking notes, and walkingThe mountain’s timeless and grandiose nature as a reminder of life's fleeting momentsKey Quote:“I prioritize not getting entangled in minor issues, instead choosing to glance up at the mountain and affirm to myself, It's all good.” - Judah PollackConnect with Judah Pollack!Website:Judahpollack.comLinkedIn:  linkedin.com/in/judah-pollack-55a53712This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian C. Adams is joined by Adam Jason, a partner at Legacy Group, an alternative investment firm with over $50 million in assets under management. They discuss investing in Latin America, specifically Colombia, and the opportunities and challenges of allocating capital in the region. Adam shares his personal journey of relocating from the U.S. to Colombia to pursue entrepreneurial ventures, and provides an inside look at Legacy Group's flagship investment in Colombian coffee production.[00:00 - 07:55] - Adam's Journey to Investing in ColombiaAdam's background as a capital markets attorney in the U.S.Taking a trip to Colombia and seeing investment opportunitiesDeciding to relocate and pursue entrepreneurial ventures[07:55 - 13:35] - Why Colombia Represents the Next FrontierLatin America gets a fraction of the investment that China doesCapital restraints limit productivity currentlyRecord foreign direct investment flowing into Colombia[13:35 - 18:48] - Providing Access for U.S. InvestorsLegacy Group fills the gap for overseas deal accessStarted with the Green Coffee Company and coffee productionNow have over 450 U.S. investors and $65M raised[18:48 - 30:45] - Legacy Group's Coffee Production BusinessFragmented industry ripe for consolidation and upgradesNow the largest coffee producer in ColombiaGoal to take the business public within a few yearsKey Quote:"95 percent of all the coffee farmland here in the country is owned by farmers that have five acres or less." - Adam JasonConnect with Adam Jason!Website: https://legacy-group.co/ and https://gcc-coffee.com/LinkedIn: https://www.linkedin.com/in/adam-jason-98a22612/This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian C. Adams is joined again by Louis O'Connor to provide an update on the strategic metals and rare earth elements market. They discuss how China has cornered the market for many rare earths and is now using that dominance for geopolitical leverage. Louis provides background on how China came to control rare earth production and processing, the challenges for the West to build out alternate supply chains, and how current tensions are impacting prices and stockpiling. He shares thoughts on investment opportunities during the supply gap period and key trends for investors to watch in this critical market.[00:00 - 07:17] - Understanding Rare Earths and China's DominanceDefining strategic metals and their uses in everyday techHow China came to control rare earth production and processing since the 1980sChina has restricted exports of some rare earths recently for geopolitical leverageThe challenges for Western nations to build alternate supply chains[07:18 - 14:52] - Challenges in Mining and Processing Outside ChinaThe environmental and regulatory hurdles around mining and processing rare earthsThe current lack of expertise in rare earth engineering and processing in the WestInitiatives like the Inflation Reduction Act to promote domestic capabilitiesBut building alternate supply chains likely to take 10-20 years[14:53 - 23:26] - Geopolitical Tensions Impacting Rare Earths MarketHow China's export restrictions are impacting prices and stockpilingPotential for more Chinese export limits this yearThe race to reshore semiconductor manufacturing as part of the supply chain battleEurope's Critical Minerals Act to reduce dependence on China[23:27 - 33:43] - Investment Opportunities and OutlookThe investment thesis and opportunities around strategic metalsSigns to watch for growing momentum and demand in this marketPossible downside scenarios that could hurt rare earth investmentsKey takeaways for investors looking at this spaceKey Quote:"China pretty much has won the war when it comes to rare earths. We in the West now wait in line for what China will release after they satisfy their own domestic quotas." - Louis O'ConnorConnect with Louis O'Connor!Website: www.strategicmetalsinvest.comLinkedIn: https://www.linkedin.com/in/louis-o-connor-a583341b8/This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian interviews Dr. Richard Orlando, an advisor specializing in working with high net worth families and family enterprises. They have an insightful discussion about the role of "love" in managing family wealth across generations.Dr. Orlando explains his philosophy of "whole family advising," which involves viewing the entire family, not just the wealth creator, as the client. He stresses the importance of understanding and connecting with clients' core values and purpose beyond just their financial assets. Dr. Orlando shares tactics for facilitating open communication, aligning estate plans with values, and defining "legacy" more broadly than just wealth transfer. They also discuss how to foster happiness and meaning for heirs so they can inherit positive mindsets rather than dysfunction.If you're curious about how ultra high net worth families can cultivate happiness and fulfillment across generations, this is the episode for you.[00:02:50 - 08:02] - Adopting a “Whole Family” Approach to AdvisingThe importance of caring about what clients care about most - their families and legacyHelping families identify their purpose, values and forms of “capital” beyond just financialLegacy is about the impact you create using all your capitals[08:03 - 19:16] - Keeping Wealth in Perspective with Spiritual CapitalThe gravitational pull of wealth can skew priorities if not anchored by valuesOngoing investment in “spiritual capital” keeps financial capital in balanceResearch on attributes that contribute to happiness beyond money[19:17 - 31:28] - Fostering Happiness and Meaning for HeirsFinancial wealth alone doesn’t satisfy the soulTactics for facilitating open communication and aligning estate plans with valuesDefining “legacy” more broadly than just wealth transferInheriting positive mindsets rather than dysfunction[31:29 - 46:38] - Embracing a Broader Concept of Philanthropy Philanthropy is about loving and caring for others, not just charitable donationsFamilies can give their time, talents and treasureEmpowering younger generations through philanthropyKey Quote:"Love is really about caring as much as you can about what your clients care about most, and that's their loved ones." - Dr. Richard OrlandoConnect with Dr. Richard Orlando!Website: www.LegacyCapitals.comLinkedin: www.linkedin.com/company/legacy-capitals-llcTwitter: www.twitter.com/LegCapDrOThis episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian C. Adams interviews cybersecurity expert Roger Grimes about the current state of cyber threats, including social engineering, phishing, ransomware, AI, and quantum computing. Roger shares his insights on where organizations often misallocate resources when it comes to cybersecurity. He emphasizes the importance of training employees to recognize phishing attempts, patching vulnerable software, and using multi-factor authentication. Roger also discusses how AI can be used for both defense and attacks, and stresses the need to prepare now for the coming quantum computing revolution which will break much of today's encryption.Roger is a 34-year computer security veteran, author of 13 books and over 1300 articles on computer security. He is often quoted in national media including WSJ, Newsweek, and is keynote speaker at national computer security conferences.[00:00 - 07:51] - Biggest Cyber Threats TodaySocial engineering, phishing, and unpatched software cause most successful attacksAI allowing less sophisticated hackers to appear more professionalDefining social engineering, phishing, and software vulnerability exploits[07:52 - 10:25] - Cyber Threats Getting WorseNo digital Geneva Convention and poor nation state relationshipsBlurred lines on what hacking is allowed between countriesNeed a digital Geneva Convention but hard to get global agreementRansomware already very damaging without AI[12:41 - 22:51] - Nation State Hacking and Critical InfrastructureNation states often turn blind eye to hacking that benefits themMost US hacking focuses on traditional espionage but some gray areas existNearly all critical infrastructure is hackable but progress being madeOrganizations like CISA doing great work against threats[22:52 - 33:11] - Security Spending and DefenseMoney often misallocated compared to actual threatsNeed focus on social engineering training and patching known vulnerabilitiesUse phishing-resistant multi-factor authenticationKey questions to ask vendors about social engineering and patching[33:12 - 44:42] - AI and Quantum Computing SecurityAI being used by attackers and defendersUnlikely to increase social engineering much from already high baselineAI driven tools will recognize criminal AI toolsQuantum computing will break current encryption in next couple yearsMassive coordinated effort needed to upgrade systems and softwareConnect with Roger Grimes!Website: https://www.knowbe4.com/Email: rogerg@knowbe4.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian Adams speaks with Christopher Frank, Oded Netzer, and Paul Magnone, authors of the book Decisions Over Decimals. They discuss how to make better business decisions by focusing on effective problem framing, interrogating data with context and intuition, and communicating insights clearly. The guests explain why relying solely on data and analysis often leads to poor decisions, and share principles and techniques for developing "quantitative intuition."[00:00 - 10:49] - Introducing the Guests and Motivation Behind Their BookBackgrounds of the three guests/authorsMyths around needing advanced math or perfect dataIneffective meetings and group decision making[10:50 - 22:42] - Key Decision Making ConceptsBalancing intuition and data analysisPutting data in context and asking "What surprised you?"Powerful questions vs. technical analysis[22:43 - 32:27] - Applying the ConceptsCase studies using simple but effective techniquesContrast with traditional linear processesImmediate impact from students applying the techniques[32:28 - 39:04] - Key Takeaways and ConclusionAsk questions, focus on the problem definitionData interrogation requires intuition and doubtImperfect decisions are okay - adjust with new dataRecapturing childlike curiosity in decisionsKey Quote:"The bad news is you don't get to decide whether you make decisions with data. It's reality. The good news is you don't need to be top of class in math in order to make these decisions." - Oded NetzerConnect with Christopher, Oded, and Paul!Website: https://www.dodthebook.com/Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, host Brian Adams sits down with COO Jarrod Arnold to discuss the disconnect between the financial perceptions and realities facing younger generations today. They explore how social media, ‘keeping up with the Joneses’ mentality, and the normalization of debt have warped expectations around earning, spending, and achieving financial stability. But it’s not all doom and gloom. Brian and Jarrod offer advice on entrepreneurship, budgeting, and investing during volatile times. They encourage younger listeners to take calculated risks and adopt an abundance mindset to create the future they want.Key Highlights:[00:00 - 06:23] - Changing Investor SentimentInvestor engagement has declined as rates have risenPeople sitting on cash instead of investing in real estateInterest rates offer a viable alternative to real estate investing[06:24 - 13:09] - Distorted Financial ExpectationsSocial media fuels comparison to unattainable top 1% lifestylesNormalization of debt loads from national level down to individualLack of financial literacy on budgeting and aligning with values[13:10 - 25:05] - Rethinking Conventional Paths to Financial FreedomNeed for realistic career guidance on incomes vs education debtEncourage entrepreneurial risk-taking, especially when youngPolicy changes needed on home ownership and college for allFocus on personal finances and psychology in good and bad times[25:06 - 31:19] - Resetting the American DreamMay need to reset expectations around home ownership and collegeLeadership needed to confront economic challengesEntrepreneurial opportunities even in challenging times[31:20 - 34:48] - Cautious Optimism on the HorizonInvestors have short-term pessimism but long-term optimismPain may be necessary to reset after deferring hard choicesAmerica has overcome adversity before and will persevereKey Quote:"Comparing yourself to that top 1%, I think has been there for a while now…[Now] You're looking at comparing yourself [to] your greater community as a whole." - Jarrod ArnoldDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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, Brian concludes his series on macroeconomic trends that will impact investor returns over the next cycle. He examines stagflation - a dangerous mix of high inflation and economic stagnation that previously occurred in the 1970s. While not overly concerned about stagflation recurring, Brian believes we may be entering a period of moderately high baseline inflation and potential recession. He advises listeners to learn from the 1970s stagflation case study and invest in real assets as an inflation hedge.[00:00 - 02:53] - What is Stagflation and What Caused it in the 1970s?Definition of stagflation as high inflation during economic stagnation/recessionCaused by oil shocks and supply disruptions in the 1970sPolicy mistakes fed inflation instead of cooling it[02:53 - 05:32] - The 1970s Stagflation Case StudyTwo oil shocks - 1973 and 1979 - caused recessions and inflationLoose monetary and fiscal policy worsened the situationEventually resolved by tighter fiscal policy and growth in 1980s[05:32 - 08:39] - Could Stagflation Recur Today?COVID stimulus initially fed inflation but it has cooled recentlyModerate baseline inflation likely going forwardRecession possible in 2023 from rate hikes and tighteningFed focused on crushing inflation over recession risk[08:39 - 11:19] - How to Invest if Stagflation Strikes AgainStudy 1970s case - real assets did well as inflation hedgesDon't panic but monitor inflation and economic indicatorsDiversify into real assets like commodities and real estateKey Quotes:"Stagflation is a period of high inflation that happens at the same time as a stagnation of growth or outright recession - the worst of both worlds." - Brian C. Adams"If you look at how bad the period of the seventies was for the U.S., it's certainly not something that we want to replicate." - Brian C. Adams______________________Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me:https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)LIKE, 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.