Alternative Thinking: Both Sides of the Investment Coin

In this episode we are talking agriculture from two angles: equity investment into working farms and lending to farmers to get them through a tough growing season or to expand their operations.  Both of my guests have a great deal of experience in their respective areas and you'll love to hear about how Canadian agriculture is staying competitive and delivering quality food to your table.

In this episode, we have another first. We have the Ontario Securities Commission participating in a podcast, along with LockDocs, which recently completed the OSC's Innovation Lab AKA TestLab Program. The result was a KYC online app that, while not endorsed nor approved by the regulator, was brought to market via the program and with a great deal of industry input. Let's hear about their journey together.

In this episode we speak with a veteran investment advisor and a specialist in investing in a diverse set of Ontario-based construction projects.  You'll hear what investors are looking for these days and how these two professionals deliver for their clients.

In this episode we speak to two CAASA members, Gord Ross, Chief Sales Officer of W.A. Robinson Asset Management & Darren Reid, Portfolio Manager of Aligned Capital on the opposite side of Canada. Where their values and purpose couldn't be more aligned (apologies for the pun), their respective businesses are structured to provide quality income to clients and have done so for many years, even decades.

In this episode we are speaking with two CAASA members who joined forces to produce an innovative ETF product in the global real estate space - offering the benefits of this asset class to investors who like a little liquidity now and then.  We hope you enjoy it!   The contents of this presentation are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Recorded July 28th, 2022. In this episode we speak with an OCIO - or outsourced chief investment officer - based in Vancouver, BC and a major Toronto-based fixed income manager active in both long only and hedge fund strategies. We go from top-level asset allocation to more granule topics like the corporate bond curve. 

For today's podcast we welcome back Sandy Poklar with Firm Capital and Darren Coleman at Raymond James.  Both have been in the industry, and their respective roles, for three decades or so and they've been professionally connected for about 15 years, so you can be sure this conversation will be like two old friends chatting - because they are!   We'll talk client experience, real estate, inflation and much more.  Enjoy!

In this episode we speak with two in the crypto and Defi sub-sets of the digital assets industry.  One from the so-called trad-fi or traditional finance area, taking a crash course in this new space, with his company offering a platform for trading various instruments.  The other is an old school commodities and financial trader who moved his expertise to the crypto-assets market and now runs a hedge fund that specializes in relative value, delta neutral trades which capture yield for their investors. You're in for a treat as we get to know this fast-moving topic!

In this episode we sit down with two veterans of the digital assets space and talk Defi and much more.  These are areas that are growing in popularity and investors of all stripes are really digging into them, as we do during this podcast. We hope you like it!

In this episode we discuss real estate investing and due diligence that investors should perform as well as how investor demographics and their behaviour can have a huge effect their overall returns. 

In this episode we speak quantitative and systematic investments with two folks who have a great deal of experience in the space.  One manages a hedge fund selection team in Paris, London, and New York, overseeing fund due diligence and onboarding of the managers who trade via a variety of products.  The other is in business development at a New York based manager that uses an investment process that takes human emotion out of the trade in order to produce disciplined portfolios.  Perhaps not surprising, they are both engineers by education and use these skills in their own way in this part of the industry.

In this episode we speak with a leader in the pension fund management space as well as a noted expert in quantitative methods for extremely large portfolios such as those with $100 billion. Both have a passion for E.S.G. and creating portfolios that support both environmental social and governance imperatives as well as the return and income requirements of pensioners and investors that rely on their products.

In this episode we speak with a leader in the assisted living space in Canada as well as one of the most prolific distributors of exempt products. We talk about how this type of seniors living and housing is used by its occupants and the prospects for its growth going forward and hear about what investors are looking for when considering investments for their portfolios.

In this episode we are happy to speak with two experts from the foreign exchange market, one who heads those operations of a major asset manager in Canada and the other in charge of a global platform that facilitates the trades. We talk about such things as FX flows, the Triffin Dilemma, and even bitcoin so get ready!

In this episode we have a noted Canadian pension plan that has evolved its business to include external money so investors can take advantage of their experience and expertise. As well as an asset manager that specializes in emerging market private lending and other EM fixed income such as sovereign debt. You will hear how they are adapting their offerings and internal capabilities to keep up with and make their mark in the international investment scene.  

In this episode we speak with a veteran manager from Vancouver who recently released a new fund and a product specialist from an investment dealer that is very active in the alternative investment scene. Join us as they discuss how alternative investments are becoming less of an alternative for virtually every type of client and how the idea of 60/40 can be reinterpreted since bond yields are at record lows and the probability of having capital gains in that part of the portfolio is surprisingly low.

In this episode the tables are turned as my colleague Paul interviews Matthew Latimer who heads the Federation of Mutual Fund Dealers and little ol' me!    We chat about how the industry is evolving to include more alternative investments - making us think that maybe we need a new moniker for these non-correlated investments - thanks to the liquid alts legislation that our team worked on for 6 years.

For this episode we are delving into the surprisingly resilient world of student housing - speaking with a fund manager in the asset class and an award-winning investment advisor with an enviable roster of clients in this and other alternative investments.

In this session we have two portfolio managers with high conviction portfolios that come at the markets from different tangents.  Whether one is looking to longer term trends or short-term trading, knowing the markets you're in can make the difference between star performance and being at the back of the pack.

In this episode we speak with two asset allocators - one with a multi-family office and the other with an ETF-only allocation service for investors.  Both have a great deal of experience across many asset classes during many markets and we will talk about current market dynamics and infrastructure of trading and where it is headed.

In this episode we are speaking with two sides of the asset management coin: a substantial systematic trading shop in New York that manages money for institutions around the world and in Canada as well as Canadian retail investors via an onshore product, and someone known as a gatekeeper in Canada - who ensures that the products on his broker-dealer's shelf are fit for purpose.

In this episode we have two leaders in the world of learning, one a tenured professor at a major university that doesn't really act like someone with job security - he loves to do new things and add to the experience of his students and the industry in general - and the other heads the bestower of the designation in alternative investments and has a storied career of his own.  This should be fun as we discuss the covid pivot that education and the world is making and how digital transformation has been sped up in all areas of life.

This podcast features a little vertical integration as we bring toghether a small-cap fund manager and a company that he invests in and they speak to how to invest in this niche market and the stages of investment from private to public and into the later, and larger market cap, stages.

In this episode we are speaking with two participants in the medicinal and recreational cannabis market - one running a company producing the many and varied products and the other investing in public companies that have exposure to this area. Both have a great deal of knowledge of how this growing sector of the economy is evolving since it became legal in Canada on Oct 17, 2018 and they have some ideas on where it is headed also.

In this episode we are speaking with what might be the most diametric pairing we've ever had - one focused on real estate co-investments in the mid-west and the other in the perhaps more flashy world of capital introductions at  a major bank.  Both have at the heart of  their businesses the drive to perform for their clients.

In this episode we are speaking with a major Canadian pension plan and a service provider to institutional investors - and the latter just happens to head one of the longest-running masters of mathematical finance courses on the planet.  We speak on artificial intelligence and machine learning as well as where these areas are used by and affecting the realm of finance and facets of everyday life that touch all of our lives.

In this episode we are lucky enough to see three sides to the blockchain and cryptocurrency coin with experts situated in Canada, the United States, and United Arab Emirates.    You will hear them weigh in on what this technology is, its history, and where it is headed in fulfilling its promise to provide a unified, immutable record of things while adapting to the dynamic world that we live in.

In this episode we are speaking about ESG, with a bit of a focus on the S or Social as you'll surmise as we get into this.  I'm joined by two from the ESG and impact area: one with decades of grassroots ESG quant background and a platform, now, to determine if as many as 30,000 companies are doing what they say they are.  The other has a broad view of ESG from a chair at a major global association that creates standards that can be used across a variety of industries and fulfilling requirements by many stakeholders.

In this episode we are speaking with a private lender whose clientele is fairly eclectic, that is to say diversified, and his shop has been able to carve out a few interesting niches in the space.  We also have a high-energy and experienced investment advisor who has some real home-spun advice on how to manage one's money and emotions in volatile markets in this increasingly complex financial system we find ourselves in.

In this episode we are speaking with two data professionals, one with decades of experience with impact and socially responsible investing and the metrics around this and the other from the Canadian mutual fund data industry and chair of the Canadian Investment Funds Standard Committee that determines the guidelines and placement of fund types in Canadian databases.   Both have a passion for numbers and social issues that will shine in this interview, I'm sure.

In this episode we are speaking with a financial planner that has a great deal of experience in the institutional investing scene and is now applying his knowledge from that area to individuals' portfolios.  We also have a friend of mine from a major hedge fund solutions shop that has experience in allocating to managers and running their own strategies in-house and now, as part of a larger asset management complex, brings its capabilities to bear on a range of clients around the world.

In this episode we are speaking with a serial entrepreneur who had a hand in steering his family's company from newspapers and radio and on to spirits and healthcare as well as promoting the many advantages of Québec, its people, and businesses.  We also chat with a medical doctor turned alternative investment professional who has a global view of both public and private markets in North America and globally. Both have a common passion of becoming expert in their respective specialties as they evolve over their careers and seeing things from a unique perspective.

In this episode we are speaking with two commensurate traders with long experience in the buy side and the sell side - both focusing on getting the best execution for their respective shops and their clients.  We speak to how the COVID crisis has tested the business continuity plans of all market participants and where the future is in trading now as we settle into this new regime and, later, move forward with what will likely be a different trading desk and office infrastructure.

In this episode we are talking health and wellness with two experts in the space who ‘eat what they cook' and have some great tips for everyone about how to achieve and maintain peak health regardless of whether we are in this COVID-19 crisis or not. https://happyhealth.cc/

In this episode we are speaking private lending with two practioners in the field as they talk to the different types of private lending aka private debt aka private yield, and where they see this market going in the COVID and post COVID era.

In this episode we are speaking with a commensurate alts junkie, so to speak, with experience in virtually all areas of alternatives and whose role now gives him a great view of all things alternative.  We also have the head of a growing multi-family office who has a different view of 60/40 and sees crypto-currency as a new asset class that perhaps all investors should have a disciplined allocation to - it's all in the rebalancing. This will prove to be a fun trip down the side-paths of alternatives and family office allocations.

In this episode we are speaking with a significant investor in real estate and lending on properties as well as to corporations, and a well-known investment advisor who knows his way around alternatives, having had a segment on what is now Bloomberg TV for some time. They will speak to how the coronavirus has affected the real estate equity and lending market and the factors that have and will continue to affect this area of investment and many people's personal wealth for years to come.

In this episode we speak with a scion of Bay Street with experience as a lawyer and president of a hedge fund company and now a hedge fund platform that provides infrastructure to fledgling as well as very large hedge fund managers located in Canada and elsewhere. We also feature one of his emerging managers in the area of life settlements, an asset class that is decades old in the institutional realm and continuing to gain more acceptance in HNW portfolios. We talk about what it takes to launch a fund, ways to ameliorate the cost and time involved, and what this area of life settles can do for investor portfolios.

In this episode we are speaking with two experts in offshore funds - one focused on the legal side and origination of these vehicles and the other involved in the ongoing governance of offshore structures. Both have a great deal of experience in their respective fields and share details of all areas of offshore investments and even personal and corporate taxation - an area quite orthogonal to many listeners who might be in the typical income, interest, dividend, and capital gains taxation regimes.  Of course, these funds are designed to be tax neutral and not tax dodging, so governance and prudent planning is a must to ensure the aims of investors and other stakeholders are met.

In this episode we discuss both sides of the family office coin  with a G3, or third generation, family member and a professional from a significant family office. The former would actually not describe his situation as a traditional family office as he and his siblings each are active participants in the ventures they invest in, while the latter has been with his employer for many years, working with the investment team and family to guide the investment plan. Both have deep and varied experience and expertise in a number of areas, which is key to propelling wealth and thoughtful impact to, for, and from successive generations.  

In this episode we are speaking with a seasoned credit manager in the Toronto area and a very experienced investment advisor located in Montreal. Both are proud proponents of the private lending area and alternatives in general and how they can be a stabilizer as well as an area of growth for client portfolio - be it Retail, High Net Worth, or Institutional.

In this episode we have eight hours of time zones between our two participants, one in London, UK, and the other in Calgary, Canada, and they share a keen interest in real estate located in, for the former, in Europe and in the case of the latter, in Canada, the U.S., and Mexico. We will speak on the real estate markets in general and their areas of expertise as well as where they see these investments going in the future as the world navigates the coronavirus crisis.

In this episode we are speaking with two market veterans, one described by the other as the most seasoned executive on Bay Street and both having decades of experience in asset management, mergers and acquisitions in the industry, and strategic positioning of their respective companies. We will speak on how the market infrastructure has changed over the years, the rise of factor investing and quantitative methods in modelling and trading, liquid alternatives, and creating products to deliver on investor preferences and needs.

In this episode we are speaking with two friends from the industry who have been friends themselves for many decades, one with a major fund administration and custody provider and the other with an ETF provider - and interestingly, both of their employers have an international component to their ownership. They will be speaking to the ETF and broader Canadian and global capital markets as well as innovations such as the Liquid Alts legislation that continues to create opportunities for investors to take advantage of alternative investment strategies.

In this episode we are speaking with two veterans of the Canadian and global asset management scene - one with a legal background who works with a diverse fund management platform and specializes in working with family offices and institutional investors looking into alternative investments.  The other has decades of experience in futures and other derivatives trading, regulatory submissions and rule-making, and providing managed account platforms for significant institutional investors.  They both give insights into how they are bridging the gap between emerging alternative managers and investors who can benefit from their compelling performance metrics.

In this episode we are speaking with two market strategists, one with a major Canadian bank's asset management arm and another that delivers wealth management portfolios to investors via asset allocation as expressed through ETFs. We will talk about the current and previous crises and how one's investment process is integral to keeping a level head through market upheavals and taking advantage of opportunities as they might present themselves.

In this episode we speak with a scion of Bay Street with a string of firsts, from gold and platinum certificates to the world's only prospectus-offered crypto-currency fund, as well as an entrepreneur who has developed a platform to get investment products into the hands of investors directly and via the broker-dealer network.

In this episode we are speaking with 19-year veteran and private markets portfolio manager with a significant asset management shop as well as an individual with 27 years' experience in the financial services industry including more than a decade with one of the world's leading pension plans and his current role as CIO for a growing multi-family office practice. Both will speak to how the markets have evolved over the last many years and crises and what they see happening now and going forward for key industries in Canada and around the world.

In this episode we look at both sides of venture investing - that of equity positions and lending to fledgling companies - with two noted practitioners in the space.  One uses big data techniques to discern amongst SaaS, or software as a service, and other technology borrowers, and the other makes investments into companies that can benefit from the lower operating costs of being based in Toronto and also take advantage of the exit metrics of Silicon Valley.  Both will comment on the move to online given the COVID-19 crisis.

In this episode we are speaking with a fixed income manager based in Toronto, Canada, and a global equity PM located in Melbourne, Australia as they explain their respective views on the markets and how their specialties might overlap and be affected by large exogenous shocks.

In this episode we are featuring a common equity and corporate bond manager, both launching funds in the summer of 2009.  They speak to their high conviction investment philosophy and where they are seeing opportunities in their respective markets.