Podcasts about Podolsky

Send us a textPlot twist: The guy who made a 300% return on his first land deal used to be a miserable investment banker with a soul-crushing commute. In this episode, Mark "The Land Geek" Podolsky reveals his exact blueprint for replacing your 9-5 income with passive land deals (spoiler: it took him just 18 months). You'll discover why housing investors are flocking to land as interest rates climb, plus Mark's four-source pipeline for finding off-market deals nobody else sees. The real kicker? His ingenious seller financing strategy that turns one-time flips into years of passive income without tenants, toilets, or termites. Hit play now and learn how 6,000+ transactions taught Mark to build wealth while everyone else was fixated on houses. Enjoy the show!Ready to start flipping land? Join 9,200+ LandFans in our free Facebook group at onlylandfansgroup.com for weekly tips and direct access to ask questions. ◽️◽️◽️◽️◽️◽️

In this episode, my guest is Dr. Gerald Pollack, a renowned professor of bioengineering at the University of Washington and founding editor-in-chief of the journal Water. Dr. Pollack is widely recognized for his groundbreaking discoveries in cell biology and water science, particularly his identification of the “fourth phase” of water—also known as EZ (exclusion zone) water. His research offers a radical rethinking of how water functions in biological systems, challenging classical theories. Today we explore the foundations of Dr. Pollack's theory, emphasizing the influential research of the late Gilbert Ling. We begin by examining key topics such as the existence of the cell membrane, evidence challenging ATP as the cell's energy currency, and the disproofs of the membrane-pump theory. We also question conventional models of the atom and consider how Dr. Pollack's findings connect to these paradigm shifts. Finally, we discuss the discoveries from Dr. Pollack's lab and their far-reaching implications for biology and human health.Full Show Notes Here. Follow The Whole Health Podcast on Instagram @wholehealthpodTimestamps 00:00:00 Introduction 00:00:17 Welcome 00:02:09 Sponsor: Biojit 00:03:26 Dr. Gerald Pollack00:03:47 Love for Science 00:09:35 Questioning the Textbook and Our Understanding of Water 00:15:07 Jerry's Teaching Methods 00:17:00 Herold Hillman: Does the Cell Membrane Exist?00:22:13 Gilbert Ling 00:23:26 Ling's Theory of Water 00:26:26 Writing Cells, Gels, and the Engines of Life 00:27:27 The Association-Induction Hypothesis 00:30:12 Independent Disproofs Against the Membrane-Pump Theory 00:31:28 Podolsky & Morales: There is no “High Energy Phosphate Bond” in ATP00:35:24 ATP as a Cardinal Absorbent 00:36:12 Ling's Stacked Dipole Theory and Why it is Not Accurate 00:40:45 Gilbert Ling's Inventions, MRI, etc. 00:41:49 EZ Water Electrical Charge 00:43:56 EZ Creating a Battery and its Implications for Cellular Energetics 00:46:02 Infrared Light Powers the Battery 00:51:12 Arturo Herrera, Human Photosynthesis 00:54:51 Polywater 00:57:47 EZ Structure vs. Bulk Water Structure 01:03:34 Infrared Light's Role in EZ Formation 01:04:20 Hydrogen Bonds SImply a Conjecture 01:05:38 Questioning the Structure of the Atom 01:16:37 EZ Projection of a Meter Long (39 inch)01:21:39 Deuterium and Deuterium Depleted Water 01:23:20 Phase Transitions Within the Cell01:27:15 Continuous Flow Occurs Through Hydrophilic Tubes Immersed in Water 01:36:41 The Driver of Blood Circulation Beyond the Heart 01:42:53 Implications for Human Health 01:55:42 Kangen Water Support the showPodcast Website Whole Health InstagramMy Website My InstagramMy X

Paul is the founder and CIO of Kate Capital. He shares insights from his career as a Bridgewater strategist, author, and content creator, discussing his investment framework, the art and science of investing, and his views on inflation, market trends, and geopolitics.

Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQB: MGMNF), joins me to unpack a number of key Company milestones that were recently achieved and on tap in the near-term, as well as the work strategy developing for the balance of 2025, at the McCready West mine and multiple other prior-producing polymetallic mines and development projects located in Sudbury, Canada.    We started off reflecting on the announcement February 19th that Magna Mining has been included in the 2025 TSX Venture 50 list. The TSX Venture 50™ is a ranking of the top fifty performing companies on the TSX Venture Exchange over the prior year. Jason remarks that it is a results of the solid work their team had executed on growing their asset base and value creation over the course of the last year.   This leads us into a discussion on their transformative move into copper and nickel production that commences in March, once the KGHM International Ltd. Acquisition transaction closes at the end of this month on a portfolio of base metals assets located in the Sudbury Basin.  These assets include: the producing McCreedy West copper mine, the past-producing Levack mine, the past-producing Podolsky mine, and past-producing Kirkwood mine, as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), North Range and Rand exploration assets.  Jason outlines how he and multiple members of the Magna Mining team had worked at and operate the McCreedy West, Levack, and Podolsky Mines in the past when they were with FNX Mining, so that they are very familiar with these assets.  While the current flagship will be the McCreedy West Mine, he also lays out the development pathway for bringing back into production the Levack Mine in 2026, and the Podolsky Mine and Crean Hill by late 2027 or early 2028.   Next we review that the payment from the bulk sample that was mined at Crean Hill and processed at Vale's facilities last year is slated to come in about a month out, which will bring in more capital to the company.  Additionally, we reviewed the financial health of Magna Mining now that they have upsized the Debenture Offering from C$15 up to C$22 million of Convertible Debentures. Concurrent with the Debenture Offering, the Company previously announced a "best efforts" private placement offering of up to 6,451,612 common shares of the Company at a price of C$1.55 per Common Share for aggregate gross proceeds of up to C$10 million, it will take the financing up to C$32 million raised in the Offering, and is expected to close on or about February 27, 2025.   Wrapping up we discussed how these funds would be used for both ongoing development and a healthy exploration program at the McCreedy West copper mine, and around the past-producing Levack mine to keep optimizing future mining operations and resource expansion.  Jason also gives us a boots-on-the-ground take on the sentiment and reception from all their meetings at the BMO Conference in Hollywood, Florida. There will be a lot of newsflow on tap over the next few weeks and months from Magna Mining.   If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.   In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording.   Click here to follow along with the news at Magna Mining

We are all stuck in a money cage. Money isn't the most important thing, but it is a thing and you can't get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky's The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it's time to pull out. That's what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

VLOG Feb 14: Eric Adams, from Sassoon to Podolsky, waiting for next shoe to drop. City of Maybe book: https://amazon.com/dp/B0DPCKZYSWDOGE access to Treasury argument 2 pm today, Q&A: https://patreon.com/posts/treasure-access-122204519…UN corruption in Colombia and Int'l Seabed Authority

We are all stuck in a money cage. Money isn't the most important thing, but it is a thing and you can't get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky's The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it's time to pull out. That's what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

We are all stuck in a money cage. Money isn't the most important thing, but it is a thing and you can't get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky's The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it's time to pull out. That's what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

We are all stuck in a money cage. Money isn't the most important thing, but it is a thing and you can't get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky's The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it's time to pull out. That's what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices

We are all stuck in a money cage. Money isn't the most important thing, but it is a thing and you can't get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky's The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself (Harriman House, 2024) breaks down walls around financial knowledge. What a weathered investor knows is that stocks are not always good for the long run. They know that being stingy helps accrue wealth. They know the big thing when you buy property has nothing to do with the property. They know the big thing is less what happens to the markets in a day than if the entire system holds together. And they know what to look for if it's time to pull out. That's what this book will teach you: a lifetime of money learnings distilled to a thin volume, like a basic cooking recipe you can follow. Paul Podolsky writes about macro–politics and money. For many years, he was the strategist and equity partner at the largest hedge fund in the world. Previous to that, he worked as a reporter. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/book-of-the-day

A Pig for Every Barn   In this episode of the Real Estate Investor Growth Network (REIGN) podcast, hosted by Jen Josey, guest expert Mark 'The Land Geek' Podolsky shares his deep insights into the world of raw land investment. Mark, a seasoned investor with nearly 20 years of experience and over 6,000 transactions, discusses his unique journey from a disenchanted investment banker to a full-time land investor. The episode covers the crucial role of detailed contracts with contractors, reasons to invest in raw land, and how Mark buys and flips parcels for impressive returns. Listeners will learn about systems and automations that streamline the investing process, and Mark's philosophy on financial independence and life's purpose. The conversation also dives into Mark's books 'Dirt Rich' and the upcoming 'Dirt Rich 2', revealing his educational courses designed to help others succeed in land investing.   www.thelandgeek.com     To learn more about Jen Josey, visit www.TheRealJenJosey.com To join REIGN, visit www.REIGNmastermind.com Stuff Jen Josey Loves: https://www.reignmastermind.com/resources Buy Jen Josey's Book: From Beginner to Badass: https://a.co/d/bstKlby

Paul Podolsky is an author, podcaster, journalist, and investor who spent time in Russia in the 1990s, and then worked on Wall Street for over two decades, much of it at Bridgewater Associates, the world's largest hedge fund, with Ray Dalio as his boss. His father worked on the Manhattan Project, with Robert Oppenheimer as his boss. Today, we talk about his newest book, an absolute delight to read — The Uncomfortable Truth About Money: How to live with uncertainty and learn to think for yourself Summary In this conversation, Paul Podolsky shares his journey from a challenging childhood marked by loss to a successful career in finance. He discusses his experiences in Russia during the 1990s, the lessons learned about money and security, and the importance of understanding economics. Paul reflects on his time at Bridgewater Associates under Ray Dalio, emphasizing the unpredictability of wealth and the necessity of financial literacy. The discussion also touches on the significance of curiosity and continual learning in both investing and life. In this conversation, Paul and Bogumil explore the intricate nature of investing, the importance of embracing uniqueness, and the psychological implications of wealth. They discuss insights from notable investors like George Soros, the challenges of navigating change and disruption in the market, and the necessity of maintaining calm amidst volatility. The dialogue culminates in a reflection on the true meaning of success and the responsibilities that come with wealth. 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.

How to Use Customer Feedback to Transform Your Business   Shep Hyken interviews Michael Podolsky, CEO and сo-founder of PissedConsumer.com. He talks about the importance of addressing customer reviews, proactive customer service, and how businesses can learn from their competitors' complaints to improve customer experience and brand reputation.  This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:    How can business use customer feedback to improve the customer experience?  How do you leverage customer reviews?  What is the best approach to respond to a negative customer review?  How can consumer feedback improve a company's products or services?  What benefits do businesses gain from analyzing competitors' customer reviews?  Top Takeaways:    Customer reviews are essential for both consumers and businesses. They serve as a platform for consumers to express their opinions about their experiences with a company's product or service. By leaving reviews, customers can also help other potential customers make informed decisions. Meanwhile, companies can use this customer feedback to improve their services and resolve any issues customers face.    Many of today's consumers do not trust leaving a review on the company's website.  This skepticism comes from a fear that companies may delete negative reviews to maintain a pristine image. As a result, consumers often turn to third-party review platforms to ensure that their feedback is seen and heard.    A proactive approach in customer service means anticipating problems before they arise and addressing potential issues that customers may face. Businesses can benefit enormously by studying reviews and complaints directed at their competitors. By foreseeing these issues and finding solutions in advance, businesses can prevent customer dissatisfaction and minor issues from escalating.    Not all reviews will be positive, and it's crucial for businesses to effectively handle negative reviews. Responding promptly and with empathy to criticism shows customers that the company values their feedback and is committed to improvement. Businesses often turn dissatisfied customers into loyal advocates by resolving their issues promptly and efficiently. A well-handled negative review can sometimes enhance a company's reputation more than a positive review.    Discrepancies between what a product or service promises and what it delivers can lead to customer dissatisfaction. Ensuring that marketing messages, sales pitches, and delivered services align is important in setting customer expectations, helps avoid misunderstandings, and ensures a smoother customer experience.     Plus, Shep and Michael share their stories of when they had to contact the CEO directly to provide feedback and get their problems resolved. Tune in!  Quote:   "An upset consumer (leaving a negative review) wants other customers not to suffer the same fate."     About:    Michael Podolsky is the CEO and сo-founder of PissedConsumer.com, a review and reputation management platform. He is an expert in customer service and leadership and advocates for consumers' free speech rights.    Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio. Learn more about your ad choices. Visit megaphone.fm/adchoices

Interview with Jason Jessup, CEO of Magna Mining Inc.Our previous interview: https://www.cruxinvestor.com/posts/magna-mining-tsxvnicu-unlocking-value-in-sudburys-high-grade-copper-nickel-projects-5062Recording date: 10th December 2024Magna Mining is set to acquire the McCreedy West copper mine and other Sudbury assets from KGHM in a transformational $9.3 million deal expected to close in Q1 2025. The acquisition includes the producing McCreedy West mine, two mines on care and maintenance (Levack and Podolsky), and five exploration properties in the Sudbury Basin.McCreedy West, currently producing 317,000 tonnes annually at 1.6% copper, will serve as the foundation for Magna's growth strategy. The underground mine features three distinct zones: a nickel-rich Main zone, copper-dominant 700 Complex, and PGM-rich PM zone. Magna plans to optimize and expand production from the current 900 tonnes per day to 1,500 tonnes per day by the end of 2025, potentially generating $20-40 million in free cash flow by 2026.The company has outlined an ambitious development sequence, using McCreedy West's cash flow to fund the restart of the historic Levack mine in 2026. Levack contains a high-grade resource of 700,000 tonnes at 4% copper, 1% nickel, and 4-5 g/t PGMs. During its previous operation under FNX Mining, Levack consistently produced exceptional grades of 8-10% copper with significant precious metal credits.Magna's growth strategy extends beyond these initial assets. The company plans to advance its 100%-owned Crean Hill project, with a pre-feasibility study scheduled for H2 2025 and potential production by 2027. By year-end 2027, Magna envisions operating three mines in commercial production, with Podolsky representing a fourth future opportunity.The acquisition particularly resonates with Magna's management team, led by CEO Jason Jessup, who previously operated these assets at FNX Mining. Under their management, FNX transformed similar non-core INCO assets into a $1.5 billion company that was later acquired.Beyond the production potential, Magna sees significant exploration upside, particularly in the 2-kilometer trend between McCreedy West and Levack. This underexplored footwall environment has historically yielded high-grade discoveries, and the company expects to announce a new discovery within two years.The strategy aligns with growing copper demand driven by global electrification trends. S&P Global forecasts copper demand to double to 50 million metric tons by 2035, driven by electric vehicles, renewable energy infrastructure, and grid modernization. With established infrastructure in the tier-one Sudbury jurisdiction and access to multiple processing facilities, Magna is positioning itself to capitalize on these favorable market fundamentals while minimizing capital requirements through staged development of its asset portfolio.View Magna Mining's company profile: https://www.cruxinvestor.com/companies/magna-miningSign up for Crux Investor: https://cruxinvestor.com

L'entanglement quantistico è un fenomeno della fisica quantistica in cui due particelle diventano interconnesse in modo tale che lo stato di una influisce istantaneamente sullo stato dell'altra, indipendentemente dalla distanza che le separa. Questo concetto può sembrare controintuitivo, ma è una conseguenza fondamentale della meccanica quantistica. Una spiegazione semplice dell'entanglement quantistico è che, una volta che due particelle vengono entangled, il loro comportamento è correlato in modo così preciso che conoscere lo stato di una permette di conoscere immediatamente lo stato dell'altra. Questo avviene anche se le particelle sono separate da grandi distanze, sfidando così il limite della velocità della luce stabilito dalla relatività. Il paradosso EPR, proposto da Einstein, Podolsky e Rosen, mette in discussione la completezza della meccanica quantistica, suggerendo che devono esistere "variabili nascoste" per spiegare l'entanglement. Tuttavia, il teorema di Bell ha dimostrato che nessuna teoria basata su variabili nascoste locali può riprodurre tutte le previsioni della meccanica quantistica. L'entanglement è stato anche associato metaforicamente all'amore, come una connessione profonda e immediata tra due individui. Inoltre, il teletrasporto quantistico sfrutta l'entanglement per trasferire lo stato quantico da una particella a un'altra a distanza, aprendo nuove frontiere nella comunicazione e nella crittografia quantistica. Quindi, l'entanglement quantistico non solo sfida le nostre intuizioni classiche, ma apre anche nuove possibilità tecnologiche, mantenendo viva la curiosità e la meraviglia nei confronti della fisica quantistica. __________________

Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQB: MGMNF), joins us to unpack a number of key Company milestones all just achieved in the last few months, including the transformative move into copper and nickel production at the McCready West mine in Sudbury, Canada.  We dive into the details of the recently announced acquisition of multiple polymetallic prior producing mines and exploration projects around the Sudbury Basin, the results of the Preliminary Economic Assessment (PEA) from Crean Hill, and the results of the recent bulk sample processing from the 109 Footwall at Crean Hill.  Additionally, we review the conditional approval for the Federal Critical Mineral Infrastructure Fund that was just received, to help fund further studies and future development of their projects.   Their move into copper production was announced on September 12th, highlighting an agreement with a subsidiary of KGHM International Ltd. to acquire a portfolio of base metals assets located in the Sudbury Basin that includes: the producing McCreedy West copper mine, the past-producing Levack mine, the past-producing Podolsky mine, and past-producing Kirkwood mine, as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), North Range and Rand exploration assets.  Jason outlines how he and multiple members of the Magna Mining team had worked at and run the McCreedy West and Levack Mines in the past when with FNX Mining, so that they are very familiar with these assets.  While the current flagship will be the McCreedy West Mine, he also lays out the development pathway for bringing back into production the Levack Mine in 2026, and the Podolsky Mine by late 2027.   Shifting over to the Crean Hill Mine Project,  Jason reiterated that their management team and board is still very interested on developing this asset and moving it towards production by 2027.   The PEA was just released to the market on September 17th and highlighted a Pre-tax NPV (8%) of $265.3 million and an Internal Rate of Return ("IRR") of 142% at conservative metal prices. There would be a low pre-production capital cost of $27.7M following AdEx period; and a payback of pre-production period capital within the first year of commercial production, and payback of all capital including AdEx period capital within the second year of commercial production.  Crean Hill would have an average underground production rate of 2,200 tonnes per day ("tpd") consisting of 1,650 tpd of higher-margin primary feed and 550 tpd of lower grade, incremental feed.     We also reviewed the completion of the recent initiative to mine surface bulk sample at the 109 Footwall Zone at Crean Hill, which commenced on July 2, 2024, and then process the material through the Sudbury Integrated Nickel Operations' ("Glencore") Strathcona Mill, which was completed on September 7, 2024. A total of 20,524 dry tonnes of feed (see Table 1) from the 109 FW Zone was processed over a 5-day period. Concentrate was produced which will be processed through Glencore's Falconbridge Smelter.  Jason reiterated that this surface bulk sample program was successful and acquired much of the data required to fully assess the base case metallurgical performance of the 109 FW Zone. Additional testing is being completed on samples collected during the program and will be used to advise future test work, and the ultimate pathway towards nickel, copper, platinum, palladium and gold production in the prolific mining district in Sudbury.   Additionally, back on March 27, 2024, Magna announced the signing of a Definitive Offtake Agreement for advanced exploration at Crean Hill with Vale Canada. The Vale agreement excluded the 109 FW Zone as Magna wanted to explore other processing options to improve recoveries for the copper-PGM rich mineralization in this zone.  These two agreements with both Glencore and Vale demonstrate the various options for Magna to do future toll-milling agreements and  grow their mining business in the Sudbury region.   Lastly, on October 9th, Magna Mining announced that it has received notification from Natural Resources Canada (NRCAN) that pending final due diligence, certain initiatives at both the Crean Hill and Shakespeare Mines have been conditionally approved for funding from the Critical Minerals Infrastructure Fund (CMIF). The funding will support pre-construction activities to help advance clean energy and transportation infrastructure at both projects.*   If you have questions for Jason regarding Magna Mining, then please email us at Shad@kereport.com or Fleck@kereport.com.   In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording.   Click here to follow along with the news at Magna Mining

So special to have Michaela Podolsky on today's episode. She has not done a podcast since 2021 (with her sister Arielle Charnas), so we feel SUPER honored she decided to share with us. We've both been following Michaela for quite some time, so this was a full circle moment for us. Michaela shares the realities of 3 under 3, what the hardest transition was, and how being pregnant for 4 consecutive years impacts your identity and relationship with your body. She also shares openly about losing a twin in her first pregnancy and navigating that loss, while moving to Florida away from her family in NYC who she is exceptionally close with. We dive into Michaela's relationship with her sisters and how they've inspired her career / motherhood journey, as well as her relationship with her husband, Brett, and their secret to a strong relationship after 3 kids and 10+ years of being together. She discusses how she parents vs. how she was raised - including how her own mother instilled confidence in her at a young age. Overall, Michaela's positive, glass half full attitude to life is incredibly refreshing and inspiring and we know you will love this episode as much as we did!This episode is brought to you by Joolz; premium strollers designed to tackle the messiest moments of parenthood. Don't miss their exclusive Amazon Prime Day event, offering savings up to 40% off! Find out more at Joolz.com and enjoy the ride!Instagram: @wearemorethanmomsPatreon: More Than Moms Guides & Resources Join our IRL LA communitySubscribe to our NewsletterProduced by Peoples Media Hosted on Acast. See acast.com/privacy for more information.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to discuss two junior resource companies that have put out recent news to the market; where he is attracted to the current value proposition.   Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) announced September 12th that it has entered into a definitive share purchase agreement dated September 11th2024 with a subsidiary of KGHM International Ltd to acquire a portfolio of copper, nickel, platinum, palladium assets located in the Sudbury Basin. Magna will acquire the producing McCreedy West copper mine, the past-producing Levack mine, Podolsky mine, and Kirkwood mine, as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), North Range and Rand exploration assets.*   Western Alaska Minerals (TSXV:WAM) (OTC: WAMFF) announced on September 10th an update on the 2024 discovery at the Warm Springs Target, on its 100% owned Illinois Creek project in western Alaska.  This is appearing to be a CRD type mineralization, where Silver-zinc-lead mineralization has been intersected Including 1.15 m @ 687 g/t Ag, 33.64% Pb, and also  2 m @ 88.5 g/t Ag, 2.39% Pb, 4% Zn.   * In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.   * In full disclosure, Shad is also a shareholder of Magna Mining at the time of this recording.   Click here to visit Erik's site – The Hedgeless Horseman

Earlier today, Magna Mining announced it plans to acquire a portfolio of assets near Sudbury from KGHM International. The portfolio will include McCreedy West copper mine, the past-producing Levack mine, Podolsky mine and Kirkwood mine as well as the Falconbridge Footwall, Northwest Foy, North Range and Rand exploration assets. CEO Jason Jessup joins us for his commentary on how this deal transforms the company.

Vous aimez notre peau de caste ? Soutenez-nous ! https://www.lenouvelespritpublic.fr/abonnement Une émission de Philippe Meyer, originellement diffusée le 25 juin 2023. Avec cette semaine : Alain Aspect, physicien, spécialiste de l'optique quantique et récipiendaire du prix Nobel de physique. Sven Ortoli, journaliste scientifique. Nicole Gnesotto, vice-présidente de l'Institut Jacques Delors. Marc-Olivier Padis, directeur des études de la fondation Terra Nova. LA PHYSIQUE QUANTIQUE Alain Aspect, vous êtes physicien, spécialiste de l'optique quantique et membre de l'Académie des Sciences. Vous avez reçu la médaille d'or du CNRS en 2005, la médaille Albert-Einstein en 2012, ainsi que la médaille Niels-Bohr et le prix Balzan en 2013. Le Prix Nobel de physique vous est décerné en 2022, aux côtés de John F. Clauser et d'Anton Zeilinger, pour vos expériences pionnières sur l'intrication quantique, qui ont ouvert la voie aux technologies associées. La physique quantique a considérablement bouleversé notre représentation du monde et nos technologies depuis le XXe siècle, au point d'être comparée à la « révolution industrielle » du siècle précédent. Dans votre ouvrage de vulgarisation, publié aux éditions du CNRS en 2019, vous distinguez deux révolutions au sein de la physique quantique. La première remonte au commencement du XXe siècle : elle s'articule autour du principe de dualité onde – particule, formulé par Einstein et de Broglie dans la lignée des travaux de Planck. Selon ce principe, les objets physiques peuvent parfois présenter des propriétés d'ondes et parfois des propriétés de particules, comme vous l'avez-vous-même illustré sur des photons dans une expérience au retentissement considérable, réalisée dans les années 1980 et publiée en 1982 avec un de vos étudiants de thèse, Philippe Grangier qui, depuis, a mis au point une technologie de cryptographie quantique. Ce concept révolutionnaire a nourri l'essentiel de la recherche en physique quantique jusque dans les années soixante. Il a permis d'expliquer des propriétés physiques, fondamentales mais jusque-là incompréhensibles, comme la stabilité de la matière ou les propriétés électriques et thermiques des corps. Il a également rendu possible nombre de nouvelles technologies, aujourd'hui monnaie courante, comme le transistor ou les lasers. Alain Aspect, vos travaux ont principalement contribué à la seconde révolution quantique. Celle-ci naît du concept d'intrication, selon lequel deux particules, dans certaines conditions forment un système lié et présentent des caractéristiques corrélées, dépendantes l'une de l'autre, quelle que soit la distance qui les sépare. Ce concept est introduit dès 1935 dans la littérature scientifique par Einstein, Podolsky et Rosen, mais présente des complications si considérables qu'il faudra attendre de nombreuses années avant d'en pouvoir attester l'existence. Vous jouez dans cette histoire un rôle de premier plan. En 1964, Bell pose les fondements d'une approche expérimentale du problème, fondée sur la mesure du degré de corrélation entre les deux particules sensément intriquées. En 1969, Clauser et ses coauteurs traduisent cette découverte en un cadre expérimental concret, fondé sur l'étude des photons et de leur polarisation. En 1982, c'est vous qui démontrez expérimentalement, pour la première fois et de manière quasiment irréfutable, la validité empirique du principe d'intrication. Cette propriété est au cœur de la deuxième révolution quantique et de ses promesses technologiques. L'ordinateur quantique, par exemple, serait capable de traiter un volume exceptionnel de données pour réaliser en quelques minutes des opérations aujourd'hui insolubles par les ordinateurs classiques. Ces technologies aiguisent les appétits des acteurs privés, comme Google ou IBM, et des décideurs publics comme la France et son plan quantique de 1.8 milliards d'euros.Chaque semaine, Philippe Meyer anime une conversation d'analyse politique, argumentée et courtoise, sur des thèmes nationaux et internationaux liés à l'actualité. Pour en savoir plus : www.lenouvelespritpublic.fr

On this weeks Huddle +, Kevin welcomes back to the show, author of Raising A Thief, Paul Podolsky. They discuss Paul's view on the FED and whether they're politically motivated, the upcoming US election and the effects it could have on markets. Follow Paul on X: @Paul_Podolsky Check out Paul's Substack: www.paulpodolsky.com *Got questions for Kevin and Patrick? Submit your questions to: nostupidquestions@markethuddle.com Visit our merch store!!! https://www.themarkethuddlemerch.com/ To receive our emails with the charts and links each week, please register at: https://markethuddle.com/

Today's guest is Joel Friedland.   Joel has 40 years of experience as a broker, investor and syndicator in industrial real estate.   Show summary:  In this episode Joel Friedland  shares his journey from starting as a broker to establishing his own firm. He stresses the importance of specialization and building lasting client relationships. Joel discusses the industrial market's growth due to e-commerce and manufacturing but warns of economic downturns. He advocates for all-cash deals, avoiding debt for investment stability, and highlights the competitive edge it provides. Joel compares leveraged investing to gambling, promoting a risk-averse strategy for long-term security.    -------------------------------------------------------------- Intro (00:00:00)   Staying focused on industrial real estate (00:01:57)   Market swings and the state of the market today (00:06:18)   Types of industrial real estate and market demands (00:09:10)   Positioning in the industrial real estate market (00:11:06)   Reasons for selling industrial buildings (00:15:24)   The no-debt financing model (00:17:53)   Competitive offers and leveraging returns (00:21:29)   Risk Aversion and Leverage (00:23:45)   Gambling in Real Estate (00:24:47)   Balanced Portfolio and Risk Mitigation (00:26:57)   Conclusion and Contact Information (00:27:48)   Closing (00:28:25) -------------------------------------------------------------- Connect with Joel Friedland:  Instagram: @investingwithjoel YouTube: @britproperties Tik Tok: @investingwithjoel LinkedIn: Brit Properties Web: https://britproperties.com/   Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com   SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Joel Friedland (00:00:00) - In every downturn when there's been, let's call it agitation of my mental health and my investors. Investment safety. Yeah, it's been because in every case I can prove in every case it's because we had a loan.   Intro (00:00:18) - Welcome to the how to Scale Commercial Real Estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.   Sam Wilson (00:00:31) - Joel Friedland has 40 years of experience as a broker, investor and syndicator in industrial real estate. Joel, welcome to the show.   Joel Friedland (00:00:39) - Thanks, Sam. It's great to see you.   Sam Wilson (00:00:41) - Absolutely great to see you, Joel. I asked three questions to every guest who comes on the show in 90s or less. Can you tell me where did you start? Where are you now and how did you get there?   Joel Friedland (00:00:52) - Sure., so I'm 64 today. I've been in the real estate business since day one. I've only had one career, and it's industrial real estate in Chicago. I started out as a broker, working for a family that was in the business for decades, and they had 80 buildings that they owned as syndicators, and they hired me as a leasing agent right out of college, and they trained me and taught me, and they were my mentors.   Joel Friedland (00:01:20) - And eventually I tried to join the family wasn't my family, and they wouldn't let me in. So I started a business with three other guys and we did the same thing. I've stayed close with that original family. I'm so close with them, actually, with one of the one of the sons that today I'm having a call with my advisory group before I buy buildings. I have an advisory group zoom meeting, and he's one of the leaders of the zoom call, and that's from 40 years ago. Same relationship. Still love him. We love each other and he's brilliant.   Sam Wilson (00:01:57) - And that's absolutely amazing. I mean, I don't know if I would put that in the blessed category, like there's there's very few people that can have a single career, not only a single career, but one in a very, very niche asset class without ever looking to the left or to the right. How did you stay on track and avoid temptation to look at other shiny objects?   Joel Friedland (00:02:24) - So I have studied successful people. I've studied people who are super wealthy.   Joel Friedland (00:02:32) - And primarily families that are super wealthy. And I'll tell you what they have done with their business. They've stuck with it. They don't go. They don't go to the right. They don't go to the left. They just stuck with it. I can give you the stories of about 200 family businesses that I've done business with as a broker and as a syndicator, where they invest with me and every one of them goes back decades. I have a company. We're buying a building right now from a family that started a business in 1935. In Chicago. It's called the. The company in the building is called talk. Often they make you know, have you ever been in a parking garage or a university or mass transit place where they've got those posts with the blue lights, with the phone you pick up or you push a button to get security? Yep. They make those talk. A phone makes that. So these two guys started the business back in the 1930s. And now the the family that owns the building that they've been running the business in.   Joel Friedland (00:03:44) - , they are are the grandchildren of the original founder. Why are they so rich? Because they did one thing. Because if you jump around, you don't learn. The ins and outs of the business. When you do something long enough, you learn it. And I'll give you an example, just like a. A metaphor or a or a. I don't know the difference between the, but,, an analogy. So,, my mother had,, kidney cancer diagnosed a few months ago. All right. So who does she go to? She goes to the kidney. Removal urologist. Who's the best in the world, right? You want the best one in the world? Would you go to someone who says, well, I used to do knees and I didn't like that so much, it didn't work out. So I started doing brain surgery.   Sam Wilson (00:04:45) - It didn't like.   Joel Friedland (00:04:46) - That. So I decided to go into being a urologist. And I've done a few kidneys. I've done it for a couple of years.   Joel Friedland (00:04:54) - You know, you could move the frick out of there so fast. Yes, but the person who has done dozens and dozens of kidney surgeries a month, right? Same thing, same thing, same thing. So that's what my mother did. We went, we're in Chicago. She went to the University of Chicago. And Doctor Shalhoub is the guy that she saw. You know what? He removed my dad's kidney 12 years ago. Wow. He's the guy we trust. So. I'm in the same business, industrial real estate in Chicago. The niches, small industrial buildings, class B. With it are occupied by manufacturers that are owned by families. That's my niche. That's it. And there's 16,000 industrial buildings in Chicago. And there's about 20,000 companies in Chicago and industrial one point 5,000,000,000ft². If I can't make a seven figure income by knowing that market really well, I'm a moron. But I'll tell you what. If I go do deals in Tennessee, or I go into the office leasing business, or I go into the retail business or the multifamily, someone who's been in it for 40 years like I have, is going to eat my lunch, right.   Joel Friedland (00:06:15) - So I stick with one thing.   Sam Wilson (00:06:18) - I love it, I love it. That's that is that is admirable. And I appreciate you, given the insight onto your motivation and kind of thought process behind why you have stuck with that one thing, that one thing has seen, I'm sure, in the last 40 years, many different. Comings and goings of both market swings, of industrial appetite, of tenant, types of lease rates, cap rates, the whole nine yards if you will. Can you break down some of that for us? And maybe at the end of that give us a state of the market today?   Joel Friedland (00:06:52) - Sure. 1981, when I started working for the Podolsky family,, there were interest rates out there like you wouldn't believe 17, 17 to 20% makes today's 7% mortgage look like a really good deal. We were in a terrible recession. It rode up after that because there's a recovery after recessions. And then in 1990, we hit another bump and there was a downturn. And through the 1990s it was great.   Joel Friedland (00:07:21) - And then there was another downturn in 2001 when nine over 11 happened. And we rode that up. And then there was another downturn, which is the worst 1 in 2008. And now things have been riding for 15 years, all to the good low interest rates, cap rates coming down. You can't blow it in a market where you can borrow at 4% and cap rates keep going down. But that's changed. And now people are struggling because interest rates are all of a sudden at 7% instead of at 4%. And if you had floating rate debt and a lot of debt, you're screwed. So the market's been great. Industrial has been great for four years. Rents have increased 80% throughout the entire market in North America, including Canada. And that means if your rent was $5 a square foot when you started out five years ago with the lease, today it's nine. So it's been booming because of the internet? Because the internet requires warehouses. And because of manufacturing. Because as manufacturing does well, it requires industrial buildings, which are warehouses that they fit with their machines and bring all their employees in to make stuff.   Joel Friedland (00:08:35) - So that's that's what the look is today. I think the market's coming down a little today. I think the the economy, the real estate economy is in a bit of trouble. And industrials still doing great. But it's not immune. Nothing's immune.   Sam Wilson (00:08:51) - No. Nothing's immune. Certainly I would I would propose that things change as in the especially, you know, the types of industrial maybe that tenants want. Have you seen any shift in the last couple of years on the types of industrial real estate that is, that people are, are leasing.   Joel Friedland (00:09:10) - They're leasing every kind of industrial real estate. So if if you drive down the highway in any town, big, big city, small town along the highway, you're going to see big industrial buildings occupied by companies like Amazon, right? Wayfair, like target for their online sales warehouse and for their warehouse for their stores. And if you think about it, every product in the world is made in an industrial building, except for crops that come from a farm.   Joel Friedland (00:09:41) - But they are brought to industrial to be packaged and sent out. So there's nothing. If you look around on your background and you've got,, the sign, you've got the wood, you've got the,, microphone. Everything in your office, in your house was made in an industrial building someplace. Yeah, and they have to keep making it. You know, you look in the background here, everything here. There's what's in my office here probably represents 10,000 industrial buildings where products were made that either are parts that went into my phone or parts that went into my lamp. Industrial is everywhere and is necessary. And it's a part of the supply chain. It is the supply chain. Right, right.   Sam Wilson (00:10:30) - No, that makes absolute sense. I love it, and it's one of those. It's one of those.. Who? I don't want to call it recession proof, but it's almost my question for you would be is on the,, you know, as demand changes or if the if the man doesn't change, I mean, tell me a guest on that front.   Sam Wilson (00:10:49) - I know you said that. Yes. Everything comes from a factory and or an industrial warehouse, but how do you position yourself to be in front of what that demand type is? And or, you know, what customers want? Is that is that a question? Even make sense?   Joel Friedland (00:11:06) - Yeah. I don't have to be in the front of it. I have to be in the middle of it. What's that mean? I have to be in the middle of it. I have to be. I have to own industrial buildings in great locations where companies want to be, and I have to keep my tenants. And, you know, you and I talked about this before we buy all of our buildings., all cash, no mortgage, debt free. And I think I've done a little study. There's probably 4000 syndicators in the United States with portfolios over $50 million. And I would say of the 4000, we may be the only one that does all cash deals. Yeah. So when I say I have to be in the middle of it, I have to own buildings.   Joel Friedland (00:11:49) - My investors put 25, 50 or $100,000 into our deals. They expect me to know what I'm doing and to protect their money, which is why we don't have mortgages. You can't lose to a bank if there's no mortgage. Right. My tenants expect me to give them a fair deal. And they expect me to keep their roof from leaking. These are net leases. But even in a net lease,, in industrial, landlords are almost always responsible for the roof and the structure of the building. So being in the middle of it means knowing my market inside out and only buying buildings that are desirable for any kind of tenant. No matter what they do, whether they're a distributor or a manufacturer. And making sure that they are in locations where there's a lot of,, population density public transportation in Chicago., we own ten industrial buildings in the city, and with one exception, they are all occupied by distributors and manufacturers. We have one that's a service company., in Florida, for example, there's a complex in in every major city in Florida where they have service companies,, and they have drive in doors so that companies that install shower doors or companies that do sprinkler systems or clean pools, they don't have loading docks and they don't have manufacturing.   Joel Friedland (00:13:18) - Florida is not a manufacturing area. Right, right. Pretty much the Rust Belt is. So the Rust Belt is is sort of the East Coast. The the Midwest. And then going out into Southern California, there's there's a lot of manufacturers there, but most of the other markets are distribution markets. So to be ahead of the market, you'd have to have a big warehouse in Nashville. There aren't a whole lot of manufacturers moving to Nashville, and it's a smaller market in Chicago. There are so many companies manufacturing products. I just need to own a building that they all like. That's the key. So it's gotta have high ceilings. It's gotta have good loading docks. It's all about the geometry and the physical makeup of the building. So I don't have to be in front of it because it's a very old line business. All these buildings go back to the 1960s. 70s 80s 90s the last 20 years,, we just buy existing buildings. We don't build anything. So the people who stay out in front of it are the developers who build these giant 500,000 square foot buildings, million square foot.   Joel Friedland (00:14:29) - We don't do that. Because we're syndicators, we have to do a smaller variety of business than buying a $200 million complex with one tenant.   Sam Wilson (00:14:39) - Right, right. And that's actually here in the Memphis market, which is, you know, a huge distribution market. That's what we're seeing. Sit vacant actually, right now are those massive buildings that there was a boom there for a while. But those massive buildings are the ones that I was talking to a broker here locally about. They said the smaller stuff like maybe, you know, what you're getting into is stuff that's still, you know, in high demand, but those huge buildings just are they're tougher to move right now. So that's, yeah, that's really interesting. Let me ask you this. Why? Why do people sell these buildings? You're in a market that sounds like it has just. You know, unmet demand. So why are people even selling this at all?   Joel Friedland (00:15:24) - Now they don't. Very often. That's the problem. There are very few buildings on the market.   Joel Friedland (00:15:29) - Are our,, vacancy factor across the Chicago areas? About 4%. Whoa. And people don't move if you're in a in the industrial business. So let's say you're in multifamily or let's say mobile home park or let's say,, self-storage. Yeah. How long does it take one of those tenants to leave? Few hours, right, a few hours. An industrial company that's manufacturing products, that has 40 machines that are screwed into the floor, with 40 employees that have been trained how to use those machines over a period of years. Moving that takes two years from the start. When you think you want to move to actually implementing the move as a two year process. Wow. You can compress it probably to a year and a half if you're really good as a as an owner of a company. But why would they want to move if it takes two years to do it? And it's a distraction from what they do running their business. Also, they can't lose their employees. They don't want to move.   Joel Friedland (00:16:40) - They don't want to retrain people. And also usually if it's an entrepreneurial company, the location of their building is right near where they live, so that they don't have to drive that far for their commute. So for so many reasons, they don't leave. And, you know, the cost of moving the machines. This is just one company. We have a company that makes fruit juice concentrates in a building in Chicago. They're in 40,000ft². If they moved, it would cost them $20 million.   Sam Wilson (00:17:13) - Right. So they're heavily incentivized to stay put.   Joel Friedland (00:17:16) - That's they're not leaving. Yeah. No, no, they're.   Sam Wilson (00:17:20) - Not going.   Joel Friedland (00:17:20) - Anywhere.   Sam Wilson (00:17:21) - I want to ask you a question about your. And thanks for giving me the insight on that. That's that's really cool to be in a market like that and to,, be able to play in that in that space is,, is pretty cool. That's, that's, that's that's a very niche niche market niche kind of type that you're in there in the industrial real estate space.   Sam Wilson (00:17:38) - I think that that's fascinating. But let's talk a little bit about your. Financing and or lack of financing model. When did you kind of hatch that idea and potentially tell us why?   Joel Friedland (00:17:53) - , I've bought a hundred buildings over the years with my investor groups. And in every downturn when there's been. Let's call it agitation of my mental health and my investors. Investment safety. Yeah, it's been because in every case I can prove in every case it's because we had a loan.   Sam Wilson (00:18:21) - Wow.   Joel Friedland (00:18:21) - Every time you get in trouble, it's like, how are we going to pay the debt? How are we going to pay the mortgage? Okay. Real estate is a mortgage business. It's a business where you have leverage. Everybody knows that. That's what real estate is. But after 40 years really after about 35 years. So a few years ago, after recovering from 2008, where we did have losses, we lost money on sales, selling buildings that we should have made money on if we had better staying power.   Joel Friedland (00:18:52) - . And I look at all of the deals of the, of the 100 deals we've done, we own 19 and we've sold the other 81. And of the 81 we've sold, nine, which is roughly 10% have lost money. Wow. And the common link on every loss is that when things got bad in a down market, paying the debt became very difficult. Banks have no sense of humor. And I've decided that rich people who invest in deals for the long term want safety first. They want to preserve their capital. And I have a group of them that hate losing money and like, steady cash flow. You know what your cash flow is if if you have no debt, it's 100% of your NOI. 100%. There's nothing going to the lender. There is no lender. So an example. We have a building that's,, we're into it for about $2.5 million in Chicago. The company that's in it as a manufacturing company, they make,, welding,, safety products, safety products for the welding industry.   Joel Friedland (00:20:03) - The rents 235,000 a year. We have some expenses, but they pay the taxes, insurance, maintenance and utilities. When you take out our expenses, it's $220,000 of NOI on 2.7 million, which is our our all in price. It's an 8% cash on cash return. And we keep paying it because the tenant keeps saying they've been in the building since, I think 1987. They're not leaving. In. The rent goes up every so often, sometimes every year in certain buildings. So the no debt concept for me. Is. My investors love it. They do have riskier other investments, like my typical investor might have 1020 syndication investments, private placements. Sure, we're the only one with no debt. I don't recommend that other people do this. I just do it because for me, it makes me feel safe. I sleep at night and my investors sleep at night, but it's not for everybody.   Sam Wilson (00:21:14) - No. Certainly not. I really like that model. I guess the one kind of stand out question in my head is how do you make competitive offers if you're doing it in all cash?   Joel Friedland (00:21:29) - You mean offers to sellers.   Sam Wilson (00:21:31) - .   Joel Friedland (00:21:32) - Oh well we're the most credible seller in town. We don't need a mortgage. We're all cash buyers. So if someone's trying to sell a building to us for $2 million, I say I've got the cash in the bank, I don't need to borrow money. So we'll do our due diligence. We'll spend 30 days doing due diligence. If everything checks out., we'll close two weeks later. I don't need to go to a bank. I don't need to do anything. Just close.   Sam Wilson (00:21:57) - Right. I guess maybe the further thought on that is that leverage can potentially increase returns. So what you will have is that people can afford to pay more for it because they're taking leverage on that makes the deal, quote unquote, sweeter. Does that make any sense?   Joel Friedland (00:22:14) - It does. And I consider that to be gambling. Sure. It's just it is, it is. It's gambling. And I'm not saying, listen, gambling when you're an entrepreneur and you're in business or you're a real estate investor, you're a gambler to some extent, right? You're even if you read the paper, it's Hines bought this building in Bedford Park, Illinois, and they made a bet on an industrial and Bedford Park.   Joel Friedland (00:22:42) - It's a bet. It's a bet, right? So every every time you do a deal with a lot of leverage. If you're stretching to make the deal, and you're trying to prove to your investors that you're going to get them a better return than anyone, and to do so, you need to take a lot of risk by borrowing a lot of money where rates have to stay low, tenants can't leave., the the,, property doesn't need a lot of work. It doesn't need a new heating system. It doesn't need the driveway redone. It doesn't need roofs redone. If you can find the perfect situation and the market's going up. Yeah, sure. You can overpay for everything. We don't have to pay for anything.   Sam Wilson (00:23:29) - Right?   Joel Friedland (00:23:30) - Right. If someone wants to pay more than us because they're bigger gamblers than we are, we just don't get the deal.   Sam Wilson (00:23:36) - Right?   Sam Wilson (00:23:37) - I love it, I love the discipline there, and I really I really, actually,, appreciate that because, I mean, you you you know what you want one.   Sam Wilson (00:23:45) - The price of what it takes to sleep at night. There is a price to that. And that is maybe that you have less or, you know, lower returns maybe, than what the next guy does that takes on leverage, but that is a price you're willing to pay. And I love that. I mean, and it sounds like your investors love that too, because again, like you own it in cash. Like, okay. So oh well like right.   Joel Friedland (00:24:08) - We're we're risk averse. That's the that's the term or risk averse. And today, for example, I'm seeing a lot of people getting in trouble because they had floating rate debt and.   Sam Wilson (00:24:20) - They oh gosh.   Joel Friedland (00:24:21) - If you're the kind of gambler in real estate that says, I'm going to make a bet, I'm going to bet that if I buy this $10 million complex and I put 7 million of debt on it, so I have 3 million of equity. And I'm buying it for a six cap. If everything goes perfect in three years, I might be able to sell it for a five cap.   Joel Friedland (00:24:47) - But what happens if the market's bad rates have gone up? You can't afford your mortgage to even get to the point of selling it. The roof needs to be redone, the parking lot needs to be patched, and now you're in a situation where you're, like, swallowing hard and like, you know that that feeling I have over the years been a casino gambler. You know, that dopamine hit you get when you're playing blackjack. Do you gamble at all?   Sam Wilson (00:25:13) - I don't want to say this on air. 20 years ago, in my early 20s, I did. I, I gave that up about 20 years ago. But yeah, in my earlier life when I was younger and had more money to blow and no, no family and kids. Yes, I did at one point.   Joel Friedland (00:25:29) - Okay, so I believe that a $10 million purchase with a $7 million mortgage is a form of gambling. Oh, it's not that. It's not that it's wrong. And if you can project the 20% IRR over a three year period.   Joel Friedland (00:25:44) - And and make it happen. That means. You bought it for 10 million. It has to be sold for for more than 10 million. Because you got to get your money back and you got to pay the mortgage off. So you've got to get more than 10 million or you lose. So you're betting that the property in the next three years or five years will be worth because you have selling costs. It's got to be worth 11 million just to break even.   Sam Wilson (00:26:11) - At least.   Joel Friedland (00:26:12) - So you're betting that what you're buying now for 10 million will be worth at least 12 million, or you're a loser in the casino.   Sam Wilson (00:26:21) - Right?   Joel Friedland (00:26:22) - And anything goes wrong. You're you're staying. Power to get to that fifth year is debatable. And that's why you're seeing so many foreclosures today and so many people selling buildings for a loss all over the place. We just don't want to do that.   Sam Wilson (00:26:45) - No. There's no. And that's it. That's it man, I love your approach. Love the way you guys are doing things.   Sam Wilson (00:26:50) - I love the the no debt syndication that that that's really, really cool. So thank you for saying it's not for everybody.   Joel Friedland (00:26:57) - I'm not recommending it for people who go into syndications like mine, I recommend to them that they go into some risky things with a lot of upside. Sure, because you've got to have a balanced portfolio. First of all, they should own some stocks, they should own some bonds, they should have some cash, and they should have some real estate or other alternative alternative investments. I'm just a little tiny piece of everybody's portfolio.   Sam Wilson (00:27:25) - Right? Just a.   Joel Friedland (00:27:26) - Tiny piece. And that's all I should be.   Sam Wilson (00:27:29) - Right?   Sam Wilson (00:27:30) - Right. Yeah, but it's an important piece. It's an important piece. And it's in and it's. And it's a risk., I'm not gonna call it risk free, but it's almost as risk free of an investment as you can get. So, yes, I.   Joel Friedland (00:27:42) - Call it I call it highly risk mitigated.   Sam Wilson (00:27:45) - Right.   Sam Wilson (00:27:46) - Highly risk mitigated. Yeah. Absolutely.   Sam Wilson (00:27:48) - Joel, thank you for taking the time to come on the show today. It was certainly insightful. I've learned a lot about your market. I've learned a lot about your work history and career experience. It,, it was certainly great to have you on. And again, I learned I learned a lot from you. I love the way you guys are doing all of your deals in all cash, no debt., that's very, very compelling. If our listeners want to get in touch with you and learn more about you, what is the best way to do that?   Joel Friedland (00:28:12) - Brit properties. Brit with one t Brit properties.com Brit properties.com.   Sam Wilson (00:28:18) - We'll make sure we include that there in the show notes. Thank you so much again for coming on today. I certainly enjoyed it.   Joel Friedland (00:28:24) - Thank you Sam.   Sam Wilson (00:28:25) - Hey thanks for listening to the How to Scale Commercial Real Estate podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts.   Sam Wilson (00:28:35) - Whatever platform it is you use to listen.   Sam Wilson (00:28:37) - If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Thanks so much and hope to catch you on the next episode.

ResourceCheck Out Brit PropertiesReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.00:06:09:10 - 00:06:30:05UnknownWhat's up? Ladies and gentlemen, welcome. Another episode of the Marketing Dude podcast. Folks, if you've been following last few weeks, the name of the game right now is thinking outside the box and doing things a little bit differently and opening your eyes to new things. There's lawsuits, there's all kinds of shit going on in the real estate industry, and whenever there's turmoil like this, there's also a lot of opportunity.00:06:30:05 - 00:06:45:19UnknownBut you have to be able to see it and take advantage of it because it's during the shifts that the people from nowhere make big names from themselves, and the ones who are big names end up drowning. And I like to bring a lot of different perspectives onto the show. So I don't know. This guy is from Chicago.00:06:45:20 - 00:07:06:18UnknownThis is two Chicago people in a row. So you're welcome. There's a reason why we're fucking awesome. It's because we work hard. Unlike the people in California. No offense taken. No, we're there. We're going to go out and introduce our guests today. We're going to be talking about industrial real estate, industrial investing. It's much different than what we've typically talked about.00:07:06:18 - 00:07:23:15UnknownDon't think we've ever had this on the show. So I'm excited to see where the conversation takes us today. So without further ado, let's go out and introduce our guests. Mr. Joel, Fred Friedman. FRIEDMAN How do I want to say it? Friedland. Friedland okay, I'm all right. Sorry. I did see the land at the end. Well, how are you doing it?00:07:23:15 - 00:07:43:16UnknownSay hello and now tell us a little bit about yourself. Sure. So I live in Chicago. I grew up in a suburb of Chicago called Highland Park. And when I was 22 years old, I graduated from the University of Michigan, by the way, two years there and before that, two years at San Diego State. So I love San Diego, where you live.00:07:43:18 - 00:08:11:06UnknownCongratulations on your championship. Thank you. Thank you. Big deal. Yeah. Yeah, it was awesome. So right after graduating, I wanted to get into real estate and I thought, I'm going to get into residential real estate because that's what I do. And a friend of mine introduced me to a family that owned a business called Podolski Podolski Family, and they owned 84 industrial buildings and we're looking for a leasing agent.00:08:11:08 - 00:08:39:13UnknownSo and a property manager. So I interviewed them on a Thursday and I started on Friday. And because I was, I think, a pretty good interviewer. Interviewee they hired me right away and said in 1981 interest rates were 17%. They had 84 buildings, ten of them were vacant, and they wanted me to figure out how to do the lease up of their vacant industrial buildings.00:08:39:13 - 00:09:08:21UnknownFirst of all, you have to understand what an industrial building is. An industrial building is is usually in the way they have industrial parks in every city and every town has them. In Chicago, there were 16,000 industrial buildings, but most people never even heard of it. An industrial is where warehousing takes place and distribution. So for today, the famous industrial tenant is Amazon.00:09:08:23 - 00:09:47:01UnknownAnd but every store has a warehouse. Every chain, every restaurant chain has a warehouse. And then there's manufacturing where every product if you look around in the background here at this place, everything the back in my background was made in an industrial building, manufactured or assembled. Your headphones, your hat, your microphone, your shirt, the computer, everything. An industrial, therefore, is really the backbone of the American economy as far as supply chain, logistics and creation of products.00:09:47:03 - 00:10:08:18UnknownI knew nothing about it. So it started out as an industrial real estate agent. I didn't even have a license. Did you ever need one then? In 81. yeah. yeah. And the Podolsky said, You need to go get a license. You're going to act as a broker. We're not going to tell anybody. I think the statute of limitations is up from 42 years ago.00:10:08:20 - 00:10:32:09UnknownSo you're you're saying about a license. We're going to find out if you're even worthy of backing you and having you go out and get a license. So we're going to see what you can do. So Mr. Podolsky, Steve Podolsky, who was my mentor, told me to get in my car and drive to industrial parks and look around and figure out what industrial is.00:10:32:11 - 00:10:56:21UnknownAnd it was summertime and the weather was beautiful and I knew they had vacant buildings. So I drove to a town where they had a number of vacancies called Schiller Park. Where Airport? Yeah, I parked my car on the street in an industrial park and I just started going door to door to companies like big companies where they have 30 employees or 50 or 100 employees.00:10:56:23 - 00:11:19:05UnknownAnd I walked door to door into each building and I'd walk in. And at that time there were receptionists. There's always a receptionist. They were the people who answered the phone and greeted people. And I'd walk up to the receptionist and I'd say, Who do I talk to about whether you guys might want to move your company to a building that's available a block away?00:11:19:07 - 00:11:46:01UnknownAnd I had a stack of fliers with me that had the pictures of the buildings and all the specifications, and by doing that, I actually found tenants who were looking to move. It was a really rough time though. In 1991, there was a really bad recession. It was similar to how it felt in 2008. Yeah, real bad. And people who aren't as old as I am don't remember that because they weren't there.00:11:46:03 - 00:12:12:01UnknownAnd then there was another recession, by the way, in the early 1990s, 1990 and 1991. So I've been through these cycles and I learned that when that first job, that when things are bad, you have to work harder. You have to talk to more people and you have to find more opportunities by just having total perseverance. And after being an agent for the Podolski, I became a tenant rep and a buyer rep.00:12:12:01 - 00:12:50:21UnknownAs a broker. I got my license and I represented tenants. I had some really interesting tenants that made products that, you know of that are out there, your microphone. Is that a Sure this is an idea actually, it's such a good question. I think this the at 2100 is the one I originally had, but I bought new one same model or not also sure sure as a microphone company and I'd say they they take they're a major part of the microphone market and I call on them because they were in Niles, Illinois, and that's where one of the Podolski buildings that was vacant was located.00:12:50:23 - 00:13:09:10UnknownAnd I actually stopped in and I talked to them and I said, Hey, how would you like to move to the warehouse That's about four doors away? And they threw me out. Yeah, I got thrown out of a lot of places. I one place I walked in and there was no reception. So it's just this guy chomping on a cigar at the desk by the front door.00:13:09:10 - 00:13:51:05UnknownAnd I said, Hi, I'm here to see if you might consider moving. He says, Go buy, get out. Yeah, there was a lot of that. So I was just I was a perseverance machine as an agent. And then about nine or ten years in, I decided it was time. Maybe to start investing in industrial real estate. So I put together a syndication, my first one and I raised $560,000 and $20,000 chunks from people that I knew from my family locally, from building relationships with clients who were tenants and owners of companies.00:13:51:07 - 00:14:16:16UnknownAnd we did the first deal, we did the second deal, and now we've done 100 industrial real estate acquisitions. So syndication, what would you say would be the pros and cons to it as opposed to syndicating multifamily? Because I know a lot of a lot of people are very familiar with, if you're not familiar syndicator, multifamily goes watch like 20 shows on this podcast or just just look at Grant Carter like it's all over the place, right?00:14:16:18 - 00:14:41:24UnknownSo what's the difference between in Yeah, walk us through the pros and cons like why industrial over multifamily? Because I would, I think the email is this or is this like the the sleeper cell here because everyone saying, industrial office like people are commercial real estate investing sounds scary right now in the general public. So industrial is the hottest asset class in real estate right now.00:14:42:01 - 00:15:13:16UnknownAnd the reason is because the Internet has caused a need for warehouses, because every time a store sends a warehouse opens. Also, there's a lot of political trouble with China and a lot of products are made in China for American companies and companies who struggled with supply chain issues during COVID and still are. And some of the problems between the United States government, the Chinese government, because we're mad at them for stealing our stuff, Right.00:15:13:18 - 00:15:39:13UnknownAnd for not playing fair. A lot of companies that used to make products in China are now bringing it back to North America, and that's called reshoring. So the two trends, the Internet and reshoring have made industrial the hottest. And it's interesting you say that, cause I just spent a week in Chicago for Christmas and my folks live on the South Side near Joliet and Crest Hill, Romeo Ville area.00:15:39:15 - 00:15:59:00UnknownAnd literally since the last time I've been home to the time I was there, I can't tell you the amount of warehouses from Amazon Target just moved in on Weber Road. Well, Wayfair is right there. Like there's just a tremendous amount of warehouses and they're not very expensive to build. So just like a big vanilla box essentially. And then there's a big box.00:15:59:00 - 00:16:19:00UnknownThey're big boxes, they have little boxes, they have tall boxes, they have short boxes. Some of them have a lot of loading docks for trucks. Some of them just have a few loading docks. Some have a lot of office on one end. Some have almost no office in the middle or on the end. But here's what's great about industrial that people don't know.00:16:19:02 - 00:16:47:19UnknownAnd I'm not trying to say, Hey, everyone get involved in my business. But when people hear this, they really like it. The cap rates are higher because everyone's in residential. So the competition in terms of demand or investments in multiple family, you can find thousands of people who do multifamily work. And if you look at every podcast, there's only three or four industrial podcasts.00:16:47:21 - 00:17:11:06UnknownYeah, I get I get pitched for like real estate investors for this show. Like I get like three a week. It's nonstop is just like a guru every like minute, like popping up. Yeah. So the yields on multifamily because everybody's cramming in and there's too many people in it are running somewhere in the neighborhood. It's been is depending on whether it's on the coasts or whether it's somewhere in the middle of the country or whether it's Nashville.00:17:11:08 - 00:17:44:24UnknownYeah, but the yields, if you invest in a multifamily deal or anywhere between five and six and a half percent and in my industrial deals, I wouldn't take less than 8% of my life depended on it. I'm not interested in that. And there's a reason for that. It's because it's riskier. Usually we buy single tenant buildings. If you have a multi family complex with 300 units and you have ten vacancies in a month, you still can pay your mortgage.00:17:45:01 - 00:18:09:17UnknownWell, we'll get into mortgages because that may not be true as rates have gone up, but there's less risk because there's diversification inside of that one investment with industrial, if I have a tenant and let me give you an example. Comcast was a tenant in one of my warehouses. They have to keep their equipment somewhere and the cable guys have to pick stuff up and they have to drop stuff off at a place to park their vans.00:18:09:19 - 00:18:37:16UnknownSingle tenant If Comcast leaves, I'm 100% vacant, but in the meantime, we own that building for 15 years, and by the 15th year our return was 32% yield per year because it went up every year. That's the other thing about industrial. We have generally built in escalations every year. And here's the third thing. That's that's maybe the best.00:18:37:18 - 00:19:03:01UnknownWe love manufacturing buildings. We love buildings where people have equipment and they put racks up. They can't leave. I was going to say it's like golden handcuffs. It's expensive to leave once you do it. Yeah, they can't go once once they're in, especially manufacturers, because they bring in, let's say, 30 machines into a 30,000 foot building and it might cost $50,000 per machine to move.00:19:03:01 - 00:19:32:07UnknownIt would cost over at least to move. So they just stay and stay and stay. So you've got higher returns. You've got automatic annual escalations, you've got this long term type of tenant. And one of the great things also about industrial is they're really easy to manage. So if you're if you have 100 units, yeah, no one's calling you, no one's calling you to unclog a toilet.00:19:32:07 - 00:19:53:14UnknownThey're no we have what's called now. That's right. What's called net leases and net lease is where the tenant pays everything. It's what I say to a tenant when they walk into one of our buildings, the potential new tenant, and they say, What are we responsible for? My answer is this It's very clear. It's as if you own the building, except you don't own it.00:19:53:14 - 00:20:16:05UnknownYou pay rent instead of owning it. And what I'm saving you is not having to invest the down payment. It's our money that's invested and you don't have to get a mortgage and you don't have to worry about paying all the the things that are behind the scenes that I do. But you pay for the mowing the lawn, you pay for the trimming of the bushes, you pay for the parking lot to be maintained.00:20:16:05 - 00:20:38:24UnknownIf it's Chicago, you pay the snow removal, you pay the taxes, you pay the insurance, you pay the plumbing problems. Everything sounds like a pretty damn good deal for a landlord. It is. So we love being an industrial landlord because our tenants pay everything. So, you know, it's it's the best kept secret. That's not a secret is an industrial is a fantastic asset class.00:20:39:01 - 00:21:09:23UnknownBut the reason that it's difficult is because individuals are afraid to invest in either a 100% occupied or a 100% vacant building. That's why so many syndicators do multifamily, as opposed to what I imagine the acquisition strategy is going to be a little bit different in in in industrial versus multifamily. So if I was if I were syndicating multifamily, I'm looking for value highest and best, something that's partially occupied probably right.00:21:10:00 - 00:21:26:24UnknownI could go in there, still have some cash flow, fix up some of the places and then increase the cash flow over time and then, you know, stabilize it and then exit in five years or so. What would you it sounds like an industrial. Are you already having the tenant located before you go out and invest? This is first one.00:21:26:24 - 00:21:46:02UnknownAs a personal investor, do you have your tenant located before you go out and buy the industrial building? They're going to lease first because that seems super safe. If that's the case, yeah, I've got a really strange niche. This is the most bizarre thing you ever heard because this is sort of like you're being a a voyeur in someone's conversation about something that really happens.00:21:46:02 - 00:22:17:09UnknownThe background that nobody knows about unless they're wealthy families, own businesses. The reason is Grandpa started the business like I've got a company that makes fruit juice concentrate in two of my buildings in Chicago, right on the Chicago River at Belmont Avenue, very close to Western Avenue now, right here, That's a it's a beautiful location on the river where one day we think the industrial buildings will be torn down and maybe, Yeah, it's going to be all lofts.00:22:17:11 - 00:22:41:08UnknownYeah. Condos overlooking the river with a water feature. Right. I actually had a lot of listings at 2911 Northwestern, and that's like the only loft building on the river. I know exactly what you're talking about. It's such a beautiful location, and the tenant's been there since the 1990s. But let me explain what happens. Grandpa was in the fruit juice business in Melrose Park with his brother.00:22:41:10 - 00:23:15:11UnknownThe brothers had a fight, so they sold the business to get rid of each other. And Grandpa went and started a new business doing the same thing that he knew how to do, which was make fruit juice concentrate. The first company was called home Juice Company, very big company, and they're still around. But this family sold it. The grandpa and the son and the daughters started a new fruit juice company in Chicago near where they lived and built it up in a nine years.00:23:15:11 - 00:23:43:06UnknownThey sold it to the Rockefeller and the Mellon family that had a private equity group out of New York. So they sold that for millions of dollars. But the building was still there and the family still owned the building and the private equity company didn't want the real estate. They hate real estate. They only like operating companies that they can throw some fairy dust and fix them up and hire some people and make some profits and then sell it again.00:23:43:08 - 00:24:18:09UnknownSo this private equity group bought it from Grandpa and the kids. And what happened next was even more fascinating. The company that bought their company sold their company to a group called Hutchins, which is a conglomerate that owns 400 stores and seven companies. But who's the landlord? The family is still the landlord. So grandpa dies. Now it's the widowed wife, smart, and the three kids and they want to get rid of the building and get rid of each other.00:24:18:10 - 00:24:48:11UnknownThey no longer want to be tied together after all these years. So I find families that used to own the business, that now own the building where the tenant who's in there is the company that they started and don't own. Wow. It's a crazy niche. Yeah, I'm buying a building right now from a family who started a business that makes telephone emergency telephone posts.00:24:48:13 - 00:25:13:16UnknownYou ever go and university campuses and garages? Yeah, Like the little yellow phone. Yeah. So it's called Top of phone. It was started by Grandpa. The kids never went into business. Grandpa had a partner. The partner had no kids in the business. So the two older guys in their seventies and eighties sold the business to a private equity group.00:25:13:22 - 00:25:40:09UnknownAnd now the family's on the property and they want to get rid of it and no longer be partners with each other. So let me ask you a question on that. That's interesting and I just want you guys listening. Just the principle he just outlined will apply to anything. It's not just like industrial, like, you know, he's developed a niche and I'm guessing you developed that type of you figured out who that avatar was probably after you bought your fifth or eighth building or something, you're probably like, Wait, hold on a second.00:25:40:09 - 00:25:55:08UnknownLike, you're realizing that, right? And it's no differently for you guys. Like look at your own last five closings. You had your last five listings. Where are they coming from? Because people don't double down ever. They never focus in because we're like squirrels, right? Everybody just goes. We cast a wide net because we think we should be relating to everybody.00:25:55:08 - 00:26:19:00UnknownBut the riches are always in the niches, aren't they? Yeah. And Chicago, because we've got 1.5 billion square feet. It's a gigantic market. Yeah, it's, it's centralized. So we have, you know, we have rail, we have highways running everywhere. So it's in the middle of the country. So every industrial company has to be here and wants to be here in Chicago.00:26:19:02 - 00:26:47:06UnknownAnd so our niches laser focus only on Chicago, knowing the market inside out, knowing the tenants, knowing the building owners and knowing all the industrial brokers. There's 300 industrial brokers in the Chicago area. And that's a lot. That's a lot. And all of them are experts and most of them are fantastic. And so they give us all of our data, our information, because they're in the market every single day.00:26:47:06 - 00:27:27:14UnknownSo we talk to the brokers every day. And what we do that's really bizarre is we buy these buildings all cash and no mortgage. So it's it's different. You syndicate every building you purchase. Is everything always syndicated? Are you buying up your own funds now? Yeah. Yeah. And three out of every four are no debt. And the reason that we do no debt is because I've been through the cycles and right now I have friends who are being so badly hurt by what's happened with interest rates at some floating rate debt and they have locked in rates yet and now the rates are super high and tenants during COVID, if it was not an A00:27:27:14 - 00:27:47:12Unknownproperty, if it was a B minus or a C property, tenants couldn't pay and then they told their neighbors they weren't paying and then the neighbors didn't pay rent. And so then 20% of all the tenants are paying rent, plus rents aren't going up, plus the mortgage doesn't make sense and it comes up for refinancing and so debt kills.00:27:47:12 - 00:28:12:23UnknownBut listen, there's two things about debt. Either you become rich because you use debt when your timing's good, when rates are low and when cap rates keep going down. But when cap rates go up, interest rates go up, Refinancing difficult. Having debt can be you know, I say debt of debt is death. Debt is death when things go against you.00:28:13:00 - 00:28:34:07UnknownHowever, when it goes for you and in it, you happen to be in a lucky period where debt works, you get rich. So like look at the rate which are 2% in the last market. If you got it, would you do it at a 2% rate? No, I would not go cash. What would be your look? What are the costs of maintenance for an industrial building?00:28:34:07 - 00:28:59:07UnknownLike if you have a debt free, what's your what's your liability there? What's your exposure. Ten. It pays at all. Yeah. So is there any is there any. So you don't really care like it doesn't matter that the market could crash tomorrow and you're still insulated. I right now I'm feeling so comfortable that we we may be stupid because we can't get rich, but my investors are the kind of people who don't want to lose their money.00:28:59:07 - 00:29:20:07UnknownThey've already made a lot a lot of these family businesses that have sold that. I buy buildings from there. The same kind of families that invest with me. The members are already wealthy because grandpa started a company and the son came in and ran it and sold it for $300 million. And now to them, a small investment is 2 million or 3 million.00:29:20:07 - 00:29:45:23UnknownSo I have our minimum investments, 25,000, because not everybody is that rich. But we we really have a a network of wealthy people who love our stuff because there's no debt and they feel safe. Yeah. But they also know that if they want to gamble, they can go to other people. Someone who's in multifamily with a lot of debt can make a lot of money.00:29:45:23 - 00:30:07:24UnknownSo so I'm not saying and everybody should put all their money in something that has no debt, that's industrial, that's got a higher risk profile when when a tenant leaves. But most tenants do stay for an average of 18 years in our buildings. What's a year is this? This is long term hold. You have like a five year exit strategy or anything like this, or you want to hold these and you want hold these forever.00:30:07:24 - 00:30:26:24UnknownAnd this is just mailbox money. Yeah. And if someone wants to get their money back, I have enough investors that I introduce party to party B and I have them talk to each other and one buys the other one out. We do that about, you know, three or four times a year. Someone calls me and says, Hey, Joel, I need my money.00:30:27:01 - 00:30:49:00UnknownI'm here in California. I've got a son who's struggling and I need to buy him a condo because I'll never have a job. And, you know, I need to get my million out. So I introduce Jim in California to Steve in Boston. And Steve says, I know it's worth a million, but I only pay you 900,000 for your investment.00:30:49:02 - 00:31:11:16UnknownAnd so Jim says, okay, make it 950. So that's called rule 144. From a security standpoint, it's not selling securities because I'm not offering it to the public. It's when one party buys out another party. And so rule 144 is how people get out. But when they get in, I tell them this we're long term holders for a good reason.00:31:11:18 - 00:31:30:07UnknownThe rent goes up every year, the tenants stay. And how do you replace when we find a great building like the the Tampico fruit juice building on the river, how are we going to find a better building than that? Why would you got a lot of money and you have an exit strategy too. So you're right. Someone in that location will eventually pay.00:31:30:07 - 00:31:51:24UnknownI need the developers in the condos. Yeah, and you could review it at the time. You know, it's an option. We have a seven year lease with Tampico, so they're there for seven years from the purchase and there's one next question. What's a typical what kind of lease terms are favorable in this when you when you especially out an acquisition like and you have a new tenant coming in, what is the standard like?00:31:51:24 - 00:32:12:04UnknownWhat's the what do you typically look at for something like that in terms of what lease terms like time, length of lease, specifically, our average lease is seven years, a new lease with a new tenant. The seven years when we buy a property, sometimes we get three or four years that are left on an a longer lease that's already burned up a little bit.00:32:12:06 - 00:32:31:07UnknownSo the risk is the tenant. The risk is look is analyzing the tenant and accepting the right one, because if they go out of business and it's manufacturing, I'm trying to get them the hell out of there. yeah. And I have I have nightmare stories that I get about getting rid of tenants. And you'd be surprised at who the bad tenants are.00:32:31:09 - 00:32:47:21UnknownThe worst tenants are the automotive guys. They're they're tough guys. They have to be because people don't trust them. Hey, you're telling me something's wrong with my car or my truck and it's not really wrong and you're lying to me. And then they charge them a lot and then they don't want to pay them and they have to wait to get paid.00:32:47:23 - 00:33:27:03UnknownSo the automotive guys are the most difficult. And actually, of the five tenants that I've ever evicted out of hundreds and hundreds of tenants, three were auto guys repair either body shop or repair guys. One guy right now was not paying rent. I love the guy. He's a great guy, but he does custom painting wheels. Like if you buy a really fancy BMW that's all souped up, you might want the the wheels, which are really nice too, to be like a metallic blue, right?00:33:27:04 - 00:33:41:05UnknownYeah. So he does the painting of those wheels. And I talked to him this morning and I said, Look, you've got to get out of the building. You owe me three months of rent. And I said to my son, I work with my son and I have them come over to your house and paint all your damn wheels.00:33:41:07 - 00:34:00:07UnknownNo, no, he is right. 7000 a month. It's a little building. His rent, 7000 a month. Plus he pays the insurance, taxes, the maintenance. He hasn't paid anything for three months. So this morning I was on the phone with them and I said, You got to get out of the building. We're going to evict you. He says, okay, okay, I'll pay.00:34:00:07 - 00:34:15:10UnknownI'll pay. Hey, you know, we had to get tough. We don't do that. We are really good to our tenants. Yeah, but he hasn't paid rent for three months. I have to take a stand. So just a final question in that scenario, because there's no debt on the building, who cares? You know, there's no risk like the investors might not.00:34:15:10 - 00:34:36:02UnknownI mean, there I mean, you obviously care, but there's not like, holy crap, we're losing $20,000. Are you just not generating cash flow? No, actually, it's worse. How do you know? I guess because he's supposed to be paying the taxes, insurance and maintenance. God. And consider those. Right? So the building's a little tiny building. It's 10,000 square feet.00:34:36:04 - 00:35:01:24UnknownThe taxes, insurance and maintenance all together. All of that is it's probably $40,000 a year, which is four bucks a foot. But that's $3,000 plus per month. So he owes 9000 in expenses that we have to pay. If he doesn't pay it, plus the rent that we don't get, you know, thank God we don't have a mortgage and nobody to our neck because banks have no sense of humor.00:35:01:24 - 00:35:19:08UnknownYou have to pay them right at a mortgage. We we'd be gone. my God, How are we going to pay the mortgage? The guy's not paying the rent. But here's what's happening. I told the investors that we have a projected return of 10% on their money. So if someone puts in 100 grand, they're going to get ten grand a year.00:35:19:14 - 00:35:40:09UnknownWe pay it quarterly, so they get 2500 a quarter. And I had to explain to them at the end of the year, this past year, why they didn't get their distribution at the full amount. And so how long is this going to happen, Joel? I mean, I put 100 grand with you so I could make the 10,000 a year.00:35:40:15 - 00:36:04:20UnknownYeah, didn't make 5000 this year. And by the way and to, to release it, I have to pay a brokerage commission probably to an industrial real estate broker who brings a new tenant. Chances are I have to do a paint job in the office, maybe carpet the office and any little things. And by the way, they may ask for a month or two of free rent is a concession to sign a five year lease and say it's going to take me time to get set.00:36:04:20 - 00:36:23:08UnknownI need some free rent. So retesting is expensive and not collecting is bad. But can you imagine how awful it would be if we had a mortgage? Yeah, that would get ugly. Do you always. Why do you locate the tenant first, or would you buy something with an existing tenant in there and let's say their leases up in two years?00:36:23:10 - 00:36:46:08UnknownWe do all of that. All that we bought buildings with one year left, with two years left, with five years left with seven. My preference is to buy a building that's got five or seven years left. It gives us a lot of time to do a lot of things. Sure, Yeah. Very interesting, Joel. I like it. Any other.00:36:46:09 - 00:37:15:11UnknownWhat would you tell someone listening right now? Just sort of thinking about, you know, maybe they're looking at there's a lot of people making career shift within real estate right now. I think you sort of made a good claim, at least a good pitch for the industrial industry here today. Yeah. Yeah. The other thing I'd like to say is that I love real estate, and in 42 years of career in real estate, I have been so lucky to build these relationships with investors and tenants.00:37:15:13 - 00:37:38:21UnknownIt's all about the relationships and that's really the main thing. And I've heard you say that. I've heard you say that. I've listened to you say that that is your main thing. Yes. It's agree with it and it makes sense. And I'm completely on board with all that matters, is taking care of your people and making sure that you care about what's the old saying is Dale Carnegie, Nobody cares how much you know until they know how much you care.00:37:38:23 - 00:37:59:24UnknownYeah, all of that. Good way to end it. That's right. It doesn't. And this is a relationships and anything in life. I mean, I can't tell you without relationships. There's nothing there. And speaking of relationships, for these guys who are listening, you need to check out my new software referral suite, because that's all it does. It helps you manage, nurture and stay in front of those relationships so they stop forgetting who the hell you are.00:38:00:01 - 00:38:14:03UnknownBecause regardless of what business you're in, you have to maintain those relationships. So nobody hires the person they don't feel comfortable with. Everyone hires the person that they're recommended to they know personally or that they've used in the past. And if they are a stranger and they don't know that person, trust me, they're doing a little bit of recon on you.00:38:14:08 - 00:38:30:13UnknownThey're looking online and they're asking people about you so called lead generation, at least in the real estate business. It's so highly relationship based. It's a big investment. So people can do that with someone they know they can trust. Awesome. Dude, I appreciate you having coming on the show. Love having fellow Chicago people on and thanks for sharing your insights.00:38:30:13 - 00:38:47:12UnknownI'm going to actually check out a lot more industrial stuff. You open my eyes are to a lot of different ways to look at that and look at it from this point of view. But you opened my eyes in a different light. So I appreciate that. Thanks for listening. I will see you guys next week and another episode of See you then and A's.00:38:47:15 - 00:39:11:13UnknownThank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.00:39:11:17 - 00:39:14:12UnknownThanks for watching. Another episode of the podcast will see you next at.

Paul Podolsky, a prolific writer and investor, founded Still Press Media and Kate Capital. With 15 years as Senior Portfolio Strategist at Bridgewater, the world's largest hedge fund, he possesses a depth of expertise. Paul shares unique insights on investment philosophies, markets, and geopolitics.

Jure in Anze sta nazaj. Pač. Če ti je Opazovalnica všeč, jo lahko podpreš in dobiš mini dodatno epizodo. Hvala. Pridi se pogovarjat -> Discord: Apparatus klub Opa Help Opazovalnica #090 Zapiski: Einstein, Podolsky, Rosen – članek (1935) Clearblue

LOS MEJORES MIXES LO PUEDES ESCUCHAR EN LATAKILLA507.COM ACCEDE YA YOU CAN LISTEN TO THE BEST MIXTAPE AT LATAKILLA507.COM ACCESS NOW SUSCRIBETE A NUESTRO CANAL DE YOUTUBE LATAKILLAMIXES SUBSCRIBE TO OUR YOUTUBE CHANNEL LATAKILLAMIXES

I speak to Anna about her decision to leave Bain in order to found Start-up sensation Lyka, which has gone from strength to strength and is now a leading supplier of human grade pet food in Australia. We discuss the challenges of growing a business at speed and the highs and lows of being a start-up founder. This is a must listen to for any consultant who has an idea for a business but are yet to act on it.

Michael Podolsky, Deputy General Counsel at Phantom Fireworks, joins JohnLandecker to talk about firework safety and what precautions consumers should take when purchasing them.

We used to rant about poor customer service to our family and our friends. Today we share our experiences with everyone, and there's no shortage of online options for where to share our experiences, both good and bad. The bigger question is, how do we share it? More specifically, do we share in a way where our concerns are actually addressed and ideally resolved? My guest today has created a unique solution, that is a godsend for some, but a genuine pain in the ribs for others. Today on the podcast I'm talking to Michael Podolsky. He's the creator of PissedConsumer.com. We're going to talk about the empowered consumer and what it takes to get the attention of companies today. You can find Michael Podolsky at: https://www.linkedin.com/in/michael-podolsky/ You can find David Avrin at: www.davidavrin.com www.linkedin.com/in/davidavrin www.twitter.com/DavidAvrin www.facebook.com/therealdavidavrin www.instagram.com/therealdavidavrin  Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we explore the world of hedge funds with Paul Podolsky, who spent 16 years at Bridgewater (the world's largest hedge fund) before launching a writing, publishing, and podcasting career.  We ask: how did hedge funds evolve, and how are they different from traditional asset managers?  What are the different types of hedge funds?  How do they raise and deploy capital?  What are the entry and exit opportunities?  And...what does it truly mean to be a "pain sponge?"Paul Podolsky spent 20+ years on Wall Street with most of that time at Bridgewater Associates, the biggest hedge fund in the world. Prior to that he worked.as a journalist in 1990s Russia, writing for Novaya Gazeta, The Moscow Times, and Hearst. He graduated from Brown University, The Fletcher School of Law and Diplomacy (Tufts in association with Harvard), and the Maurice Thorez School of Foreign Languages. He currently has a podcast of his own called 'Things I Didn't Learn in High School', is the author of "Raising a Thief" and "Master Minion" and has a Substack where he writes "Practical, jargon-free description of what is going on in international affairs and financial markets that ties directly to my asset allocation, with full transparency into my wins and losses."You can follow him at the links below.Follow Paul Podolsky:Twitter @paul_podolskyInstagram @paulpodolskywww.paulpodolsky.comFollow us on Instagram and Tik Tok at @thewallstreetskinnyhttps://www.instagram.com/thewallstreetskinny/

Did you know that dogs get cancer at the highest rate of any mammal in the world? Or that 80% of dogs get dental disease? How about that 50% of cats and dogs are overweight or obese? Pretty startling statistics, right?    Well, Anna Podolsky, Founder & CEO of direct to customer pet wellness business, Lyka, is on a mission to make our furry friends healthier and live longer, more fulfilled lives. Named after Anna's 14 year old border collie, the concept for the business was borne when Lyka showed signs of being unwell and, after not recognising any of the ingredients in her generic food, began cooking for her fur baby.    Lyka employs 160 staff - doubling almost every 6 months - each with a deep love and care for animals. The company has so far raised $40 million in funds and has created 15 million meals for their loyal and very sticky customer base of furry friends and pet parents.    Ian and Anna cover a range of topics including:  Building the foundations for business success as a management consultant at Bain  Traveling around the world with a border collie  Practicing 10 thousand hours of gymnastics  Her Dad's kitchen as first production facility  The importance of building a purpose-led culture  And lots more…  Quickfire Round: Book: The Power of Moments - Chip Heath, Dan Heath  Podcast: Masters of Scale  News Source: Morning Brew  App: Headspace  Tech CEO: Bob Iger  Productivity Tool: Remember The Milk  TV Show: The Block (guilty pleasure)  TED Talk Topic: Kibble is the new cigarette   Get In Touch:  Lyka are always recruiting, check out their open roles: https://lyka.com.au/careers  Have a pup and ready to make the switch? Head to: https://lyka.com.au/  Connect with Anna on LinkedIn: https://www.linkedin.com/in/anna-podolsky/ See omnystudio.com/listener for privacy information.

Hello everyone,I'm usually skeptical of fiction involving financial markets. To make it thrilling and get life and death stakes, the genre typically blends with crime or conspiracy. Which means you need an engaging writer who knows both worlds well enough and doesn't turn the financial combatants into caricatures.But there are surprises. During my recent trip, I churned through Master, Minion by Paul Podolsky who also writes the Things I Didn't Learn in School Substack. Master, Minion is a fast-paced and thought-provoking thriller at the intersection of financial markets, geopolitics, and intelligence agencies. Paul started his career in Russia, worked on Wall Street for 20+ years, most of that time at Bridgewater, and spent a lot of time in China as well. He brought all of that to bear in the book.The story weaves together hot spots from Moscow to Hong Kong and, yes, Boston, with a wonderful depth of detail and cultural observation. Paul's depiction of the “verbal kung fu” and politics in his fictional hedge fund is priceless. But his real strength is to paint compelling characters ensnared in their respective systems of money and power.After reading his book and Substack, I reached out to Paul and am excited to share our conversation.If you can just take one thought with you this Sunday, consider his metaphor for life, the flow and the eddies. The eddies being the loops in which can get stuck in without being aware of it. When I asked him about it, I realized he was the living embodiment of the lessons from Tim Urban's The Tail End:One of the reasons I left Bridgewater when I was 52, I calculated how many months I was gonna live. I literally looked at an actuarial table. I think when I left Bridgewater, I had 384 months to live, statistically speaking. And there's a pretty wide range around that, if it's an individual.I thought about that. These 384 months are gonna come. There's nothing I can do. That is just the flow. How do I stay in that for myself? It's very hard to see, at least it was very hard for me when I was young. You have to listen carefully. What is that real thing that works for you?There's a period of time where I had no money and I had a young family. Money really, really made a difference, to try to make a comfortable tent, if you will, to sort of shelter them. But a little bit like you, I was thinking inside, this isn't the primary thing that motivates me. If I've got a million bucks now, if next year I have a million dollars and a hundred thousand, and the year after that I have a million dollars and two hundred thousand, that does not actually motivate me. And those months are going by. It's going 383 and 382 and 381… There are eddies that you could get stuck at in life.We talked about Paul's journey to writing, his book, intrigue and investing in emerging markets, understanding Russia, and much more. You can find a few quotes below. I hope you'll enjoy the conversation. I certainly did and look forward to reading more of Paul's work in the future.You can listen to this conversation on Spotify, Apple, YouTube, anchor, and via RSS.The information in these posts and on this website is not and should not be construed as investment advice.The paradox of writing fictionThe strange thing about fiction is, there's a weird paradox. On the one hand, you're making stuff up. On the other hand, it's sometimes easier to say something true by making something up.In the real world, you never quite know what other people are thinking. You have a hypothesis. Fiction allows you to create a bunch of characters and imagine their interior world, which is where so much of the mystery and the richness of life is.A few quotes that stuck from the book (no spoilers):Working at a hedge fund:Everyone understood the Boss had money, they, the hangers-on, me included, wanted that money and we all tried to destroy each other to get it. If [the CIA] was a team, this was Lord of the Flies.The Boss said he liked disagreement, but almost everybody was too scared to disagree.Understanding certain emerging markets:The idea that the state itself was criminal was something Americans had trouble getting their mind around. But the Boss might understand. In the Boss's mind, there were predators and prey, and he had dedicated his life to joining the ranks of the predators. Wealth was a precondition.Institutions are people:But the Fed is people and people are wired the same everywhere—ambitious, striving for greatness, prone to error, guilt-ridden.Great investors understand impermanence:Most people tend to look at what they are growing up in and think that it is normal, he said. To them it is normal that the US is the richest country. Normal that China is poor. Normal that Black people are poor and white people are rich. But the reality is, things change. Nothing is stable.Magic in markets:The signaling felt like primates establishing hierarchy. While the central bankers had the magical power to make the economy expand or contract, the investors had the magical power to become rich.Some things I learned from Paul during our conversation:The magic of writingYou spend a lot of time alone trying to … write the b******t out of an idea. Then you put the story out there and you get what I describe as pings from the universe. The story connects with somebody and you get this response back. It's kind of a magical process that you've created something.The medieval is alive and well in RussiaThe final thing which helped me understand [Russia] is it is medieval, in all that sense. If you think about the picture in your mind about the way Europe was working in the 14th and 15th century. There is a king. You pay tithes. There is palace intrigue. People are poisoned. You could end up in prison for no reason. Rule of law grew out of all of that, but that world is still alive and well in parts of the world. It's a very bizarre thing that a place with a space station that could do complicated computer programs has the medieval in it, but it's there.And what you're looking at in Ukraine right now is exactly that. It's a land grab for disobeying the emperor or the czar or whatever you call it. And the punishment is death. The traps of lifeThere's a quote at the beginning of the book from Chekhov, I should grab the copy off my desk, but basically that ‘life is a vexatious trap.' And I thought that was actually unbelievably powerful. You see these traps recreated in many different forms. I just think they're more virulent in those other cultures.Wall Street has that. Money on Wall Street has an addictive character. And people are willing to put up with a lot to endure that. They have these jobs that pay huge amounts of money, but many of them don't involve that much talent. Being a person like the Boss is a different type of thing. You know, a sort of character who can see the future. That's slightly different. And so some of the characters I was trying to get out of the hedge fund are people that are getting these insanely big salaries. Like the chief trader there. And they have this constant insecurity and they're stuck in this system where they love the money, but they don't have the talent to do something outside of that. And so that's that master minion relationship.And then the secret police in places like Russia or China, they're so corrupt. And I saw this firsthand with families. It's unbelievable that there is no escape. One of the characters actually wants to be a reformer and non-corrupt. And there are people who you will meet in these places there. But corruption has sort of infected his family. He's basically on the payroll of his father-in-law who is tied to all these nefarious things. And that repeats again and again and again and again. You can't extract yourself from it.Great portfolio managers as artistsI think really exceptional portfolio managers can look at something that's today and imagine a radically different set of circumstances. And their mind works a little bit like a kaleidoscope. In other words, they're staring at the world and they keep shifting the kaleidoscope and it's literally changing every single day.And they're imagining what that future is. But some of those things are radically different than what we're living through right now. And those are the people that correctly call stock market bubble tops and crises and things. It's a weird thing. There is an element to it that I think is quite artistic. If you think about artists that create stuff that seems really out there initially, but then 10, 20, 30, 40 years later, people are like, this is the most beautiful thing ever done. They're doing the exact same thing. They're imagining a set of pictures in our head that are gonna resonate “If I can't understand something, I remove it from my portfolio.”I saw what was going on in Ukraine. I said, this seems crazy. But what do you do if all of a sudden, the risk of your position has expanded more than what you'd anticipated? You take less risk. I called up all my contacts in Russia and everybody said, he is bluffing. There's no way he's gonna do this. And then I took less risk. And then as we got closer to it, I said, listen, I cannot predict this. I just closed all my positions in ‘21. And the minute he invaded, I closed all my positions in China.My thought being, listen, if Putin is crazy enough to do this in Ukraine, who's to say that Xi can't do this in Taiwan. I certainly can't. From an investor standpoint, there's other ways of making money. If I can't understand something, I just remove it from my portfolio. And that's one of the reasons I love liquid markets.Stories and understanding peoplePeople think in stories. Numbers are really important for measuring stuff. But the way people think is in stories. And stories are about feelings and emotions. And the feelings and emotions are relatively limited in number. People have been telling stories for thousands of years and they revolve really around a couple of themes.Escape, which this book is about, is one of them, and a couple of primal emotions. So to make a story resonate with people, you need to be in that zone for it to work. And so when I'm writing either a non-fiction piece or a fiction piece, one of the things I really try to do, which has taken me years to get to, is just listen: what am I feeling right now? Where is that coming from?And when I was writing Master Minion, I was imagining, what is going to irritate each one of these people? What's gonna scare each one of them? What do they really want? And you have to be, to make the scenes come alive, you have to be very locked-in, just the way you would be in a business meeting. If you're somebody who's good in a corporation, you have a very rich understanding of everybody around the table, what they want. And when you're writing a book, you're doing the same thing. It's just all the characters are in your head.George Soros on PutinI had the occasion a few times in my life to speak with Soros. I spoke with him in, I believe it was January of 2000, two weeks after Putin. Putin came to power December 31st, 1999 if my memory's right. So I asked him, I said, you know, what do you make of Russia's new president?And he just looked at me and he said, ‘not to be trusted'.' That was all he said. And that was an example of somebody way out ahead. I mean, think of what came next.Too much money (or being around it) can make you crazyThere's a little bit of me in every single character, truth be told. Even the diabolical ones. They say, write what you know, and each one of those people draws on strains of yourself.I think that money can make you crazy. It's a very strange thing. We need money. I've been in very limited circumstances. It's unpleasant, But it's also true that money, too much money, is not good for you. It's a little bit like food.When you were asking those questions, I was imagining how different it is in another industry. Imagine you're sitting around the table with Tim Cook and he's making 80 million or whatever. And you're the guy that's making a million bucks. Now a million bucks puts you in the top 0.1% of salaries. And you're sitting next to him and you're like, but this guy's not that much smarter than me. He's earning 80 million. I guarantee you there's somebody in that room thinking that way, cause people are people. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit alchemy.substack.com/subscribe

My conversation with Paul Podolsky author of Master, Minion and the Things I Didn't Learn in School Substack.

This week we have the great pleasure of welcoming Paul Podolsky, Wall Street and hedge veteran who has recently written a book called “Master, Minion.” We chat about his career, his experiences on Wall Street and how a conversation with Paul Volcker inspired his latest book. Check out www.paulpodolsky.com *Got questions for Kevin and Patrick? Submit your questions to: nostupidquestions@markethuddle.com Visit our merch store!!! https://www.themarkethuddlemerch.com/ To receive our emails with the charts and links each week, please register at: https://markethuddle.com/

Build passive income without tenants, maintenance, governmental restrictions, and create a life centered around low-risk, high-margin land investing.Timestamps[00:40] Intro[01:20] Mark's investing history and how he got  into full time land investing[03:12] Mark's experience when he first started investing in land; his worst case scenario[05:08] Mark describes their investment model[09:09] How Mark provides help for people who bought properties but are tired or can't afford to pay the property taxes[10:12] Find out Mark's strategy for standing out when there are already other investors doing the same thing [11:21] Mark's opinion on touchpoints[12:17] Cash flow[13:38] What's the worst experience Mark has had on a deal?[15:34] How to mitigate the risks in land investing; where investors can go when they want to get into land investing[16:47] A quick look into Mark's platform, Land GeeksSign Up For Our Free Newsletter where we cover the latest in Stocks & Crypto, Multifamily, and the Nation's Economy: https://perpetualwealthcapital.com/newsletter-signup/Download our free ebook: The Definitive Guide To Building Generational Wealth & Passive Cash Flow Through Multifamily Real Estate InvestingIf you like our content, please give us a rating on the platform you're listening on!Get in touch: Justin@arealminvestor.com Let me know what topics you'd like to learn more about.Connect with Mark Podolsky; Website -  https://www.thelandgeek.com/ Linkedin - https://www.linkedin.com/in/thelandgeek/ 

We're continuing our Q&A mini-series with Arielle, her family and closest friends answering questions submitted by you—her fans! This week, Arielle is joined by her baby sister, Michaela Podolsky.Now living in Florida with her two children and husband, Michaela answers questions about her pregnancy, leaving NYC, managing life with two young kids, and her skin and hair care routines. The thousands of miles separating these two hasn't managed to disrupt their banter; tune in and enjoy!Follow @ariellecharnas, @michaelapodo and @somethingnavy on Instagram!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Communication is everywhere: Job Home Friendships Let's leave home and friendships because of personal attitudes. But communication in your job or business brings income, satisfaction and actual results. How to improve these skills? Angela Podolsky shares a lot of valuable insights. Watch or listen to the entire episode to know a lot more. Wanna get…

I'm so excited to introduce you to Anna Podolsky for so many reasons – the parallels in parts of our stories, her amazing business because the products are actually incredible but also because her work involves floofy puppies and that's just the biggest yay of all. After immigrating from the Ukraine, Anna has been a successful professional gymnast, an international management consultant with the prestigious Bain & Co around the world and now founder of a booming pet food start up, Lyka Petfood, changing puppers' lives from the inside out. She has some fascinating insights about the influence of immigrant parents on choosing your pathway, living and working overseas and a shared passion for languages, and starting a business when you stumble upon a gap in the market then grow to an empire of over 100 staff and counting. She is humble, intelligent and so interesting and I hope you enjoy as much as I did. Anna has also generously given the yayborhood 20% off your first Lyka box if you're keen to try it out which Paul highly recommends!!! Click below! VISIT LYKA'S WEBSITE + Announcements on Insta at @spoonful_of_sarah + Join our Facebook community here + Subscribe to not miss out on the next instalment of YAY!

Host Kim Farina and Producer Garnetta Santiago preview Season 6 of Scrub Chat! A new season of personal stories by veterinary professionals for veterinary professionals. Join us for another season of incredible guests sharing insights from their journeys in the veterinary profession. Guests: Dr. Hidayah Martínez-Jaka, DVM Lasha Hicks Melody Martínez, CVT Elizabeth Martínez-Podolsky

Elizabeth Martínez-Podolsky is the Director of Diversity, Equity and Inclusion at the University of Minnesota College of Veterinary Medicine and is completing a doctoral degree in Higher Education Administration. In this episode, she talks about creating new pathways to advance DEI, building community and safe spaces to create networks of support, and the importance of expanding … Continue reading It's Time to Take Up the Space We Deserve – Elizabeth Martinez-Podolsky →

Josh interviews Mark Podolsky (a.k.a. The Land Geek) about his decision to go from a miserable, micromanaged bank employee to a successful CEO. Mark shares his profit-first model and business strategies he employs for his clients to experience success. Podolsky has bought and sold raw land full 2001. He is also the author of Dirt Rich, the ultimate guide to helping you build a passive income model in raw land investing. Get practical application to lead in your life every week, in your inbox https://www.joshkalinowski.com/jk-download For more free tools to grow your business visit www.joshkalinowski.com Get my new book for FREE www.strike3book.com
 Liked this episode? Check out this video... www.youtube.com/watch?v=RHj4HjTq3K0 
 Josh Kalinowski is a CEO, serial entrepreneur and family man hellbent on helping leaders live a life of exceptional impact, influence and faith. On this show, Josh shares what he learns with thought leaders, entrepreneurs and everyday extraordinaires to keep moving the finish line forward. If you're searching for “more,” you're not on this journey alone. As a listener you can expect the tools, inspiration and accountability you need to find your inner greatness and become your best self in business and life.

Great to speak with Rich Podolsky about his book chronicling how Brent Musburger, Phyllis George, Irv Cross, Jimmy the Greek and the many great writers, producers, directors and executives at CBS Sports revolutionized sports broadcasting, making the The NFL Today of the 70s and 80s a cultural phenomenon and it's on-air talent superstars.

In episode 11 of the Princeton Podcast, Mark Freda caught up with Jennifer Podolsky, the Executive Director of the Princeton Public Library. In addition to describing the extensive variety of library programs provided to our community, Jennifer also shared some impressive statistics on the number of library visits this past year, the number of library card holders, the number of items loaned, as well as a list of new library materials now available for checkout.

If you're a DCT platform founder, investor, or agency wanting to support this growing market, you won't want to miss this conversation with the person who knows more about setting up and managing DCTs than virtually anyone on the planet. Today's guest is Laura Podolsky, Esq., founding General Counsel of Science37, a startup with a valuation of $1.05B when it went public in Spring 2021. Laura currently serves some of Nixon Gwilt Law's top Life Sciences and Healthcare Innovation clients.***Bonus: Download Laura's Top 5 Friction Points for DCT Providers in the Recommended Resources section belowWhat you'll get out of this episode Why Decentralized Clinical Trials (DCT) got a boost from the pandemic—and whether this boost is likely to continue What benefits and drawbacks exist with DCT when compared to traditional clinical trials How companies which support DCTs can gain access to these trials via the platforms (think: mobile nursing agencies, patient recruitment companies, and mobile labs) What special privacy considerations are needed in DCT and how companies can adjust their processes to meet those needs What investors and sponsors look for in a DCT platform during due diligence (including a handy resource) Quotables“Decentralized Clinical Trials increase participation and decrease attrition—those alone are big selling points.” DCT pioneer Laura Podolsky on Ep14 of @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/ “Not only can [DCTs] end up being more convenient, easier, less burdensome for patients, all of that leads to a faster trial...which yields serious financial benefits to the sponsor.” Laura Podolsky on Ep14 of  @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/ “For vendors, it's important to learn about DCTs and be able to say to the operators: this is how we can make this part of the process easier.” Laura Podolsky on Ep14 of  @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/ “One of the great promises of DCTs  is the ability to recruit from anywhere, and that also means you have to comply with the privacy laws of all these different jurisdictions.” Laura Podolsky on Ep14 of  @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/ “When I'm advising on data privacy in the context of DCT, it's helpful to look at the 7 principles of GDPR because most privacy laws are trending toward those.” Laura Podolsky on Ep14 of  @DecodingHealth1 w/ @NixonGwiltLaw https://sliceofhealthcare.com/category/decoding-healthcare-innovation/ Recommended Resources Download the Top 5 Friction Points for DCT Providers here (Laura's expert advice on what processes and frameworks you need to examine in your business) Connect with Laura Podolsky on Linkedin More tips on how your privacy policies impact key partnerships with vendors and investors in this webinar replay from our Privacy team Join the ConversationAre you a digital health or health system innovator? Tell us what topics and people you'd like us to cover in future episodes:– Website – LinkedIn – Twitter – Instagram – YouTubeFollow our daily updates on LinkedIn:– Carrie – RebeccaAbout Your HostsCarrie Nixon and Rebecca Gwilt are partners at Nixon Gwilt Law, a healthcare innovation law firm exclusively serving Providers, Digital Health Companies, and Life Science Businesses seeking to transform the way we receive and experience healthcare. Find out more at NixonGwiltLaw.com. This podcast is produced by Slice of Healthcare LLC. 

This week a Thanksgiving treat for nostalgia fans. In 1975 CBS's The NFL Today revolutionized sports broadcasting with their innovative pre-game show with an eclectic cast of characters. My guest this week on The Wormcast is author Rich Podolsky who wrote the book on the history of the show called "You Are Looking Live!". A fun read and some great stories from Rich on the cast and crew. Enjoy! Topics discussed: 1:30 The origins of The NFL Today 5:50 Phyllis George 7:45 Irv Cross 11:15 Brent Musburger 15:20 Super Bowl X pre-game in Miami 18:20 Jimmy the Greek's background 26:20 Greek's Grapevine and the fight between Brent and Jimmy This podcast is hosted by ZenCast.fm

No one had ever seen a national NFL pre-game show until 1975, when CBS President Bob Wussler put together four of the most unlikely people to create the ground-breaking and enduring “NFL TODAY.” Brent Musburger, Jimmy “The Greek,” former Miss America Phyllis George and former player Irv Cross have come to life in technicolor in Rich Podolsky's “You Are Looking Live!” which was Brent's signature line for every stadium look-in, a sneaky way to show gamblers what the weather was. It's all in Podolsky's book, the egos, the drama - even the time Brent and The Greek got into a fistfight in a popular New York bar.

00:00-30:00:You Are Looking Live author Rich Podolsky joins the show to chat about how the NFL Today revolutionized sports broadcasting, the impact of Phyllis George, Irv Cross the grinder, how Jimmy the Greek changed the game, Brent Musburger's legendary place in broadcasting, amazing stories along the way and more!

Author and sports journalist Rich Podolsky joins Clark and Ira to discuss the groundbreaking program, 'The NFL Today' and his new book "You Are Looking Live" on that very topic.

Episode 18 - Lee Podolsky | Breakwater Accounting and Advisory Corp. In this episode Brian shares a drink with Lee Podolsky, owner and founder of Breakwater Accounting and Advisory Corp. It wasn't all rainbows and sunshine when Lee started her business six years ago with 2 employees and 16 clients, but today her business has over 200 clients, 40 employees and is steadily growing. After being laser-focused on her first career with Dupont for 10 years, Lee decided to go on her own and start freelancing for friends and family after she had her first child. Without a long term vision, Lee trusted her gut and jumped in with both feet, leaving all the naysayers behind. Find out how Lee's psychology minor comes in handy and how she wound up with a majority of female employees - 38 women and 4 men. HAPPY ½ HOUR DRINKS: Always Ready Hazy IPA from Cape May Brewing Company - 4 out of 5 https://www.capemaybrewery.com/beers/ Barone Fini Pinot Grigio https://baronefiniwines.com/ Learn more about Breakwater Accounting and Advisory Corp. https://breakwatercorp.com/ Learn more about Rivers Edge Advisors: https://riversedgeadvisors.com/ Connect with Brian Carney on Instagram @riversedgeadvisors_llc Connect with Brian on untappd.com - brcarney7

When Passionate Parenting Isn't Enough, with Paul PodolskyWhen Paul Podolsky and his wife adopted an infant girl, Sonya, from Russia, they expected to have an innocent, loving child on their hands. Like any excited parents, they poured lots of affection onto their new kid, with the intent to help her grow up happy, healthy, and well adjusted. Everything seemed perfect.But signs that things were awry quickly began to appear. Sonya wouldn't drink any liquids put in front of her, and would then gorge herself sick with food. When they got her into preschool, she began strategically waiting for nap time and then stealing from all the other kids. Then she started exposing herself to strangers and defecating in public places. As she got older, the lying and misbehaving got worse and worse. She became extremely manipulative, pitting Paul and his wife, Marina, against each other. She even hid her brother's inhaler, putting his life at risk. How did she become so inclined towards chaos? That's the subject of Paul's book: Raising a Thief, and the central topic of this interview.How Do Parents End up Raising a Criminal?The answer lies in early childhood. In Sonya's case, her birth mother severely neglected her, letting her cry all day with very little food or attention. Authorities eventually took Sonya away from her home after the neighbors called the police, but she endured this parental abuse for the first few months of her life. In our interview, Paul informs me that going through an experience like Sonya's so early in development has some very intense effects on the brain. Sonya's mind was fundamentally reprogrammed, making her believe she was threatened by primary caretakers, and that to survive, she had to assert her control in every situation. That's what her bad behavior boiled down to. By breaking all the rules, she demonstrated that she could control them––not the other way around.So what did Paul and his wife do? Try to be the perfect parents. They'd both undergone trauma in their own youths. Marina's father was an alcoholic, and Paul's mother had died from cancer when he was very young. They didn't want Sonya to experience a similar situation as they did, growing up without treating the lasting effects of trauma until adulthood. They poured in every resource: emotional, physical, financial, spiritual…but nothing helped Sonya heal. They checked her in and out of rehabilitation for years and although it felt like failure, Paul has learned that there was nothing more he could have done. In the episode Paul details how in life, there are some things you can't control. In this case, he had to let go and hope professionals could help Sonya better than he could. Although there were periods of improvement, her temperament grew worse over time.Thanks to professional intervention and her own self journey, Sonya started to come around. Paul recounts seeing her post a fundraiser on social media to help reduce child hunger, and he donated, prompting a phone call from her the next day to catch up. A day later, she called Marina too. I wouldn't call Sonya's relationship with her adoptive parents perfect, but they have had meaningful, positive interactions since she left home.There are plenty of people out there with similar problems as Sonya, to various degrees. To help put them at ease, Paul decided to write and publish Raising a Thief. His goal is to help parents who are in a similar situation and feel frustrated, worn out, or confused. He's been able to work with families from all over the world to help them understand their children.Falling in Love With a Married WomanOn top of discussing the story of Sonya's life, Paul and De'Vannon talk about Paul and his wife Marina's love story. Strap in; it's a bumpy one. It all started when Paul was living in Russia after finishing college. He was walking down the street one day, only 24, when he had the epiphany: He was ready to find his life partner. Then, very shortly after, he glimpsed Marina at a party, and knew she was the one for him. However, there was one one problem. She was married. He was able to get her phone number, however, and called her house frequently to chat. One day he picked up to the sound of Marina crying, saying she was leaving her husband. He felt bad...but not that bad.Soon they began seeing each other. Everything was swell for a few weeks until Marina revealed that she was pregnant. She laid it out for Paul: She was having the baby, whether he liked it or not. Despite being young and broke with no plan, Paul decided it was time for fatherhood the moment he heard his son's heartbeat. He tried to tell his father about it, who urged Paul and Marina to get an abortion. Disappointed but not deterred, they married without him present.Surviving in Poverty Before their son Sasha was born, Marina was having issues and was confined to the hospital. However, she couldn't stand the hospital food. Paul worked late, and couldn't cook or make it to visiting hours. They ended up having to hire someone to cook during the day. Then Paul would disguise himself as a doctor to sneak into the Russian hospital. However, because of his American accent, he couldn't get into the hospital with ease. In order to keep them from detecting his status as an American, he would approach the entrance and say “svaiey,” which means “yours” in Russian. This was a gruff, commanding way to signal that he was part of their team, so they let him in! After Sasha was born, Paul and Marina moved to the U.S. so Paul could attend graduate school. They were so poor, they slept on towels on the floor. Marina was used to such immense poverty as there was often no food in the grocery store when she grew up in Russia. In this interview, I share my own experience of homelessness and sleeping in cars, and I don't hold back.Losing a Child Later, when finances weren't quite so tough, Paul and Marina wanted to have another child. Marina found herself pregnant, but she suffered a tragic miscarriage. Paul stresses the extreme pain of such an experience, and that there's not enough dialogue about how to cope with miscarriages. Paul describes his wife's cries as being primal, an expression of a loss essential to her being. So they decided to adopt. After dealing with a shady lawyer and going through an intense round of investigation and background checks, they received Sonya from Russia. Paul talks in the episode about the disparity of the process. Adoptive parents were intensely examined, while the kids were passed off without much attention. There was no history as to what circumstances led children like Sonya to become parentless in the first place.Staying on Your Feet We may not all have a crazy love story or a disturbing adoption tale like Paul, but his story teaches us that sometimes we just have to let go of the plan. If you enjoyed listening to his story and want to hear life lessons from Paul Podolsky, you can find them in the full episode here and in Raising a Thief available anywhere books are sold. Paul can also be found at PaulPodolsky.com and on his podcast, Things I Didn't Learn In School.