Martin Wolf - The Crisis of Democratic Capitalism #14

🎧 This week we are kicking off our summer finance series and I couldn’t imagine a better way to start.  We are joined by legendary financial journalist Martin Wolf, the Chief Economics Commentator for the Financial Times and one of the most influential economic commentators in the world today, for a deep dive discussion about his rather important new book “The Crisis of Democratic Capitalism.”   As you all know, this is a book I’m highly recommending and my gut is telling me you will feel the same after listening to this episode.

I am so honored to have Martin on the show as he one of the most respected, sought after thinkers in the world today.  If he’s not busy writing, you’ll find him doing things like advising world leaders, both in business and politics, on the most important issues of the day or addressing universities and important international bodies like the World Bank, IMF and the BIS.  You’d be hard pressed to find a more thoughtful, connected, and influential individual in the world today.

What you are about to hear is our incredible conversation about the “Crisis of Democratic Capitalism.”  We discuss what the crisis is, how we got here and what might happen next.  We also get into some really interesting historical discussions and look how things today compare to dynamics in the Late Roman Republic, which as you all know failed rather famously.  We end on optimistic as we learn Martin’s interesting and inspiring ideas about how we might get ourselves out of this mess.

This is an important episode and I’m certain is going to leave you all with a lot to think about.


Hope you enjoy!

Listen to the episode on Apple Podcasts, Spotify, Google Podcasts, and Amazon Music, or on your favorite podcast platform.

Nick Halaris

I’ve been fascinated by investing for as long as I can remember. As a kid, I would read the Wall Street Journal, the Economist and Barron’s, pouring over the data tables, stories and interviews with a passion and an insatiable kind of curiosity. As I grew into adulthood, I struggled to find the right outlet and channel for this passion and spent much of my twenties wandering and trying out different things. I had a very brief career as an attorney, spent some time as a strategy and leadership consultant for big multinational companies, failed in an attempt to start a hedge fund, and even ended up helping run a scrap metal recycling operation for a while.

At the age of 30 though, I took my stand. I made up my mind that no matter what I was going to be an entrepreneurial investor. As crazy as it sounds, I owe everything in my life to this one foundational decision—even my amazing wife and my beautiful kids. I don’t think I would ever have met Alicia had I not made this one choice. At that moment in time, the financial world had just been devastated by the crash in the housing market and the near systemic failure of the global banking system that followed. I’ve always had a contrarian bent to my investment thinking; so, to me the carnage in real estate looked like an opportunity.

It all started with one house in Compton California. The business plan was simple: buy a distressed foreclosed home from a bank, bring it back to life with a big renovation and sell it to a first-time homebuyer. Things progressed slowly as they tend to do with real estate. In the first years of this, I think I did 6-7 homes. But then after plugging away day-by-day, suddenly it seemed, things just came together. I found the right investors and the right loans and the right deals and in just a few short years I ended up investing in over 100 such transactions, building a portfolio of almost 2,500 multifamily units and creating a fully vertically integrated real estate company with almost 100 employees.

Fast forward to today and I’m running the second evolution of my entrepreneurial investing career and having so much fun that I have to stop and remind myself that this is all real.

http://www.nickhalaris.com
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Simon Mikhailovich - Founder of the Bullion Reserve #15

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Raul Torrez - The Evolving Legal landscape #13