The Unlimited Podcast by Ginsler Wealth – Détails, épisodes et analyse

In the wake of the Canadian federal election and a tumultuous April, on this episode of The Unlimited Podcast, Brian speaks with Jon Love, Executive Chair and Founder of KingSett Capital. You may recognize Jon from his prolific LinkedIn posts, where he frequently shares his insight on politics, Canada's priorities, and much more. Brian and Jon discuss the founding of KingSett, Jon's thoughts on the election outcome, Canada's path forward under Prime Minister Mark Carney, and more!

Jon Love is the Executive Chair and Founder of KingSett Capital, Canada’s leading private equity real estate investment business – now with a staff of 170 professionals in three offices, and AUM of $18 billion.

After graduating with an HBA from Ivey Business School, in 1976, Jon joined Scotia McLeod in Edmonton as a retail stockbroker, then joined Oxford Properties in 1980, eventually becoming President in 1987 and CEO in 1992. In 1995, Jon took Oxford public and 6-years later, in 2001, Oxford was privatized by OMERS in a $4 billion transaction.

In 2002, 6 months after “going dark”, Jon founded KingSett Capital.

Jon graduated with an Honours degree in Business Administration from Western University’s Ivey Business School, where he is an Emeritus Advisory Board member. In 2016 he was awarded an Honorary Doctorate from Western University. Jon is a member of the Business Council of Canada, the Chief Executives Organization, and YPO. In 2023, Jon received the Ivey Business Leader of the Year Award, the NAIOP Rex Icon Lifetime Achievement Award and in 2024 the Fraser Institute’s Founders Award. In 2018, Jon was awarded the Order of Canada.

Timestamps

0:00 Disclaimer & Intro

5:51 Running Oxford in the 80s & 90s

10:21 Jon's favourite times in his career

12:00 Knowing when to sell a business

15:58 Founding KingSett after "Going Dark"

17:33 KingSett today vs. 20 years ago

19:38 Why does KingSett only operate in Canada?

22:00 Operating while being "Terrified"

24:38 Jon's biggest lessons

28:25 Implementing a succession plan

33:06 Jon's view on the Canadian federal election

40:00 Jon's recommendations for a housing plan

45:52 Investing outside of KingSett

47:30 Playing Offence

48:46 If Jon could do anything, what would it be?

50:30 Outro

Check out this trailer featuring some highlights from episode 52 of The Unlimited Podcast: Straight Talk with Gerald Sheff.

In this interview with Brian's former boss, Brian and Gerald discuss Gerald's path to becoming an architect, meeting Ira Gluskin and the founding of Gluskin Sheff, what to do in times of uncertainty, and more!

For the full episode and more, visit ginslerwealth.com/podcast.

From Brian Ginsler, Ginsler Wealth CEO:

"This past August, equity markets around the world experienced significant declines. Coincidentally, I chose the August long weekend to visit my favourite place on earth, Algonquin Park, where there is no cell reception. Or so I thought.

In the very early hours of Monday (August 4) morning, a faint, single bar of service must have magically appeared, and a single Wall Street Journal news alert notification slipped through...

"Japan's Nikkei Stock Average closed down 12.4%, it's biggest single-day percentage fall since 1987"

"Oh shoot," I said to my wife, and decided that we better drive out of the resort to get stronger cellular reception to see what was going on. It wasn't pretty."

Listen to this episode to find out what Brian did next...

For the original transcript of this letter and to see weblinks and other media, please visit https://ginslerwealth.com/ginsler-wealth-third-quarter-2024-client-letter-do-nothing-edition/

During his first year at Ivey Business School, Brian's career plan changed significantly after taking an Introduction to Finance & Investing course. The insights gained from that class inspired him to pivot from a career in accounting to a focus on finance and investing.

Twenty-five years later, Brian reconnects with Stephen Foerster, the professor who sparked his interest in finance, to discuss Foerster's latest book: "Trailblazers, Heroes, & Crooks: Stories to Make You a Smarter Investor".

Brian and Steve discuss trailblazers Quintus Fabius and Muhammad Ali; heroes Warren Buffett and Harry Markopolos; and crooks Bernie Madoff, Sam Bankman-Fried and Tino DeAngelis; among others. You don't want to miss these stories, which could make you a smarter investor.

Stephen Foerster is an award-winning author and Professor of Finance at Ivey Business School, where he has taught since 1987. He received a BA (Honors Business Administration) from Western University, and an MA and PhD from the Wharton School, University of Pennsylvania. He obtained the Chartered Financial Analyst (CFA) designation in 1997 and has taught Financial Management, Investments, and Portfolio Management courses in the HBA, MBA, and Executive MBA Programs. He has won numerous teaching and research awards.

Foerster has also written two textbooks and over 100 case studies and technical notes in the areas of investments and financial management. He has published over 50 articles including in the Journal of Financial Economics, the Journal of Finance and Financial Analysts Journal. Foerster has served on pension and endowment fund boards as well as not-for-profit investment committees.

Timestamps

0:00 Disclaimer and Intro

7:10 Trailblazers & Masterly Inactivity

17:17 Warren Buffet, American Express, & Salad Oil

25:12 The Unsung Hero of the Bernie Madoff Story

35:20 Stephen's Thoughts on Cryptocurrency

37:31 Investing & Tennis Strategy

43:52 Historical Lessons from Market Crashes

47:14 How Might Investing Change?

48:43 Stephen's Critical Advice for Investors

49:53 If Stephen Could Do Anything, What Would It Be?

What does it take to be a Jeopardy! champion? After winning over Canadians' hearts and minds with her standout performance on Jeopardy!'s Tournament of Champions, Dr. Juveria Zaheer returns to The Unlimited Podcast to share her journey. In this episode, Brian and Juveria talk about her road to Jeopardy!, the importance of developing new skills and embracing risks, and the incredible work Dr. Zaheer is doing with the Centre for Addiction and Mental Health (CAMH). Tune in for inspiring life lessons, fascinating stories, and more!

Dr. Juveria Zaheer is an associate professor of psychiatry at the University of Toronto's Temerty Faculty of Medicine, and a clinician scientist at CAMH. As the medical head of CAMH's emergency department, she plays a critical role in providing urgent psychiatric care to individuals in crisis. Dr. Zaheer is also a renowned researcher and a leading authority on suicide risk assessment and prevention.

In addition to her medical achievements, Juveria recently garnered international attention for her expertise in a different field—trivia! Despite a tough loss on her Jeopardy! debut in May 2023, her strong performance earned her a spot in the Second Chance Tournament later that year. Dr. Zaheer won that tournament, advancing to the Champions Wildcard Tournament, where another victory allowed her to compete in the prestigious Tournament of Champions earlier this year.

Juveria's first appearance on The Unlimited Podcast can be found as Episode 9: The Future of Mental Health Care.

To learn more about or donate to CAMH's "No One Left Behind" campaign, click here.

Timestamps:

0:00 Disclaimer and Intro

4:51 Juveria's "day-to-day" life

6:36 Juveria's Journey to Jeopardy!

11:41 Jeopardy! Behind the Scenes

15:42 Preparing for Jeopardy!

19:07 Honing memory and recall skills

23:23 Jeopardy!'s infamous buzzer

26:01 Juveria's betting strategy

29:19 Juveria's most memorable Jeopardy! moment

31:05 Jeopardy's impact on Juveria's family

34:16 Life lessons for everyday life

36:20 No one left behind

In this special episode of the Unlimited Podcast, Brian welcomes Brent Belzberg, founder and Senior Managing Partner of TorQuest – one of Canada's original private equity firms – to discuss leadership, culture, and the keys to success in both life and business.

Brent has been a supporter and mentor to Brian for almost two decades and we were honoured to have the chance to bring our listeners his story and his wisdom.

Brent founded TorQuest in 2002 after selling Harrowston, Inc., a publicly traded investment fund he started in 1992 to invest in and build businesses. Beyond TorQuest, Brent serves as a Director of Sinai Health System, where he was previously Chair. He is a member of the Investment Advisory Committee at the University of Toronto. His past directorships include CIBC, O&Y REIT, and Four Seasons Hotels. In 2018, he was appointed a Member of the Order of Canada for his work as a business leader and philanthropist. Brent received Queen Elizabeth II’s Platinum Jubilee Medal in 2023 for his significant contribution to Canada and the province of Alberta. Brent received a B.Comm. (Honours) from Queen’s University in 1972 and a J.D. from the University of Toronto in 1975. In 2023, Brent received an honorary Doctorate of Laws (LLD) from Queen’s University.

TorQuest is a private equity firm that focuses on middle-market companies in North America, investing across various industries. The firm collaborates closely with family owners, founders, and management teams, and specializes in entrepreneurship/family succession, corporate carve-outs, recapitalizations, and management buyouts.

Timestamps

0:00 Disclaimer and Intro

3:30 Private Equity & TorQuest

15:16 Success in Private Equity and TorQuest's future

21:02 Brent's outlook on the economy

23:48 How did Brent enter the Private Equity space?

31:49 Culture and Leadership within TorQuest

36:41 Successful partnerships & leadership traits

40:54 Brent's advice for entrepreneurs

48:29 Philanthropy & Brent's legacy

54:10 If Brent could do anything, what would it be?

From Brian Ginsler, Ginsler Wealth CEO:

"A few weeks ago, I experienced what all financial advisor parents dream of. I came home to find my youngest daughter’s Grade 8 Financial Literacy test on the dining room table. She had earned a mark of 95%. I couldn’t have been more proud, and thought about ordering Ginsler Wealth business cards for her right away!

But I might have gotten ahead of myself..."

To find out what happened, listen to this episode featuring Ginsler Wealth's Second Quarter 2024 update - Financial Literacy Edition - where Brian reviews the concept of "needs vs. wants". For the original transcript of this letter and to see weblinks and other media, please visit https://ginslerwealth.com/ginsler-wealth-second-quarter-2024-client-letter-financial-literacy-edition/

Private debt is "all the rage" these days, but also beset with some controversy, especially in Canada. Asset-based lending is a form of private debt, and eCapital is a leader in this space. On this episode of The Unlimited Podcast, Marius Silvasan, CEO of eCapital, goes "back to basics" to explain what is asset-based lending, how eCapital mitigates risks typically associated with traditional private debt, and reveals eCapital's secret weapon: its technology focus.

eCapital is a specialty finance company with a focus on providing working capital to small and medium sized businesses in the U.S., U.K., and Canada. eCapital finances 6,000+ clients through factoring and asset-based lending facilities and provides ancillary services such as credit cards, fuel cards, bill pay, and other treasury services. The business was founded in 2006 and employs 700+ people globally.

Prior to his leadership role with eCapital, Marius was CEO and Director of ONE Bio Corp and Tele Plus World Corp, accumulating over 20 years of experience in structured finance, syndication and mergers and acquisitions. As a Forbes Finance Council Member, he is an emerging thought leader on financial services and corporate leadership. He holds a Bachelor of Business Administration and a Master of Business Administration from HEC University in Montreal.

Timestamps

0:00 Disclaimer & Intro

3:51 Marius' journey to eCapital CEO

6:14 What eCapital does for SMBs

12:12 Examples of industries using eCapital

15:40 Mitigating risk with eCapital's loans

29:48 eCapital's technological applications

33:18 eCapital's growth strategy

38:41 What economical challenges is eCapital seeing?

43:01 How does eCapital differ from other lenders?

45:39 Ensuring liquidity within eCapital

48:11 How should investors evaluate private debt firms?

51:20 If Marius could do anything, what would it be?

Small-capitalization ("small-cap") equity investing requires a specialized investment and trading skillset. Since its inception in 2018, Bedford Park Capital has proven its proficiency in this area. Bedford's President & CEO Jordan Zinberg joins Brian to explain what small-cap equities are, what it takes to be a successful small-cap investor, and why some of the risks of small-cap investing may actually be opportunities in disguise.

Jordan Zinberg is the President and CEO of Bedford Park Capital Corporation. Jordan has over 20 years of investment industry experience, including portfolio management and trading, and has served as a director of both private and public companies.  Before founding Bedford Park Capital, Jordan was a Managing Director and Portfolio Manager at a prominent Toronto-based investment management firm.  Prior to that role, Jordan spent 7 years at one of Canada’s largest investment dealers.  He holds an MBA from the Schulich School of Business as well as several industry licenses and certifications. He also holds the Chartered Investment Manager designation and is a fellow of the Canadian Securities Institute.

Timestamps

0:00 Disclaimer & Intro

4:11 Jordan's journey to founding Bedford Park

7:57 What are "small-cap" equities?

12:19 What makes small-cap equities attractive?

16:02 Finding companies that meet Bedford's criteria

19:02 Difficulties purchasing small-cap equities

21:59 Positives & negatives of small-cap equities

26:59 How Bedford found one of their best holdings

33:03 Jordan's outlook on the economy and stock market

35:48 Behind the scenes at BNN

38:42 If Jordan could do anything, what would it be?

39:57 Outro

On Tuesday, April 16, the government of Canada revealed its 2024 Federal Budget with major changes that impact investors, savers and business builders - most significant of which being an increase to the capital gains inclusion rate.

In this "breaking news" episode of The Unlimited Podcast, we bring back the "Tax Ninja", Alexandra (Ali) Spinner, to help break down the key changes and provide some guidance for immediate and long-term actions and plans. Ali can also be seen discussing the Federal Budget changes on BNN Bloomberg.

Key changes covered include:

1. The increase to the capital gains inclusion rate
2. The increase to the Lifetime Capital Gains Exemption
3. The introduction of the Canadian Entrepreneurs Incentive
4. Changes to the Alternative Minimum Tax (AMT)

Ali is a Partner in Crowe Soberman’s Tax Group, a member of the firm’s Management Committee, and leader of the High-Net-Worth tax practice. Ali has more than 20 years of experience in public accounting and tax and estate planning. Her practice focuses on helping wealthy families and high-performance professionals structure their affairs in a tax-efficient manner. Ali’s broad technical expertise includes domestic, cross-border, and international tax matters for individuals, trusts, estates, and corporations. She is experienced in complex estate and trust planning, post-mortem planning, corporate reorganizations, and the preparation of Canadian tax returns and compliance forms. In 2022, she was elected as a Fellow of the Chartered Professional Accountants of Ontario.

Timestamps

0:00 Disclaimer & Intro

2:15 Highlights of the budget changes

13:00 Why change capital gains tax rates?

20:54 Impacts on the general public

29:44 Who will feel the largest impact?

34:01 Canadian departure tax

36:11 Exemptions, incentives, and philanthropy

42:21 Outro

43:33 Ginsler Wealth's full theme song