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The Biltmore View

In depth conversations with leading investment managers.

Weekly hand curated podcast episodes for learning

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In depth conversations with leading investment managers.

Episode 11 - Charlie Carnegie, Context Capital - SPACtacular

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Charlie Carnegie, Portfolio Manager, Context. While Context is known as a convertible arbitrage manager, they've been investing in SPACs for over 15 years.

Charlie explains Special Purpose Acquisition Corporations (SPACs). We get into the structure of the vehicle and how they work for investors.  Charlie explains why SPAC investors are like savvy New York nightclub VIP's avoiding the lines out front and accessing the party through the backdoor. After many years in the underbelly of Wall Street, Charlie offers up thoughts on why SPACs are finally gaining broad popularity.  We talk about how SPACs serve as a hack for growth companies going public while avoiding the broken, highly regulated IPO market. Finally, Charlie offers up his thoughts on whether SPACs are here to stay.

This podcast was recorded on March 24th, 2021.  The respective opinions expressed are those of Mr. Carnegie and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

Feb 26 2021

31mins

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Episode 10: Burl East, American Asset Capital Advisers

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Burl East, CEO American Asset Capital Advisers

- The impact of Covid-19 pandemic on various real estate sectors
- How "office" as a real estate sector is the new retail.
- A bleak future for Class B Manhattan and San Francisco office space
- What is the impact on lenders?
- Is there a distressed investment opportunity? 

This podcast was recorded on January, 20th, 2021.  The respective opinions expressed are those of Mr. Mahon and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request

Jan 21 2021

39mins

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Episode 9: Ryan Mahon, Portfolio Manager of the Mobility Fund, Ibex Investors

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Ryan Mahon, Portfolio Manager at Ibex Investors discusses:

- The continuum of mobility: internal combustion engine to mobile living room.
- The difference between Waymo and Telsa
- How far off is the future of autonomous mobility (are we there now)?
- Where is the US in the global race for autonomous driving?
- What's the future of the mobility - subscription or ownership?
- Our heads explode as we go down the second derivative impact of driverless cars - why Ryan is advising his brother to go into city planning.

This podcast was recorded on October 14th, 2020.  The respective opinions expressed are those of Mr. Mahon and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Nov 16 2020

33mins

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Episode 8: Jeff Bacon, Savitsky, Satin, Bacon, & Bucci

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Jeff Bacon, Partner at Savitsky, Satin, Bacon & Bucci, one of Hollywood's leading business management firms, explains what business managers do (1:15), explains the birth of the industry (4:30), talks about the challenges of budgeting for actors and athletes (6:00), how to say "no" to clients (8:30), the changing economic landscape of the entertainment industry (13:00), the impact of Covid-19 on incomes (16:30), referrals and trusted advisors (19:00), what exactly are "agents?" (22:00), and how his clients deal with family demands (31:00).

This podcast was recorded on August 26th 2020.  The respective opinions expressed are those of Mr. Bacon and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Oct 05 2020

34mins

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Episode 7 - Brian Landrum, Harbert Seniors Housing

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Brian Landrum, Senior Managing Director at Harbert Management Corp digs in to the impact of Covid-19 on the Senior Housing business. We discuss current and future investment opportunities around senior housing.

This podcast was recorded on June 4th, 2020.  The respective opinions expressed are those of Mr. Litt and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Sep 15 2020

38mins

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Episode 6 - Jon Litt, Land & Buildings

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Jonathan Litt, Founder & CIO of Land and Buildings digs in to the impact of Covid-19 on commercial real estate (1:45), the collapse of co-working (4:00), broad adoption of work-from-home (5:30), not all retail will disappear (7:30), what sectors provide the growth engine for real estate (10:00), the impact of millennials moving back to the suburbs (13:00), the next major revaluation in commercial real estate (15:00), why public REITs are cheap (18:00), shifts in hospitality (21:30). We finish up with Jon's thoughts on the three megatrends that will make people money in real estate (26:00).

This podcast was recorded on June 4th, 2020.  The respective opinions expressed are those of Mr. Litt and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Jun 25 2020

27mins

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Episode 5 - Larry Mestel, Primary Wave

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Larry Mestel, Founder & CEO of Primary Wave discusses why music rights are a compelling asset class (3:00), why artists would sell their rights (6:00), reviews some examples of creative tactics to build the revenue stream from legacy artists (8:00), Bob Marley, Whitney Houston, Prince - what makes a musical icon and legend (13:00), shoes, lottery tickets, & a new holiday - how Primary Wave adds value to their partner artists (15:30), how streaming saved the music industry (21:00), how covid-19 has impacted music publishing (24:00). We finish up with a story on how Paul Anka brought musical inspiration back to Frank Sinatra (29:00).

This podcast was recorded on June 4th, 2020.  The respective opinions expressed are those of Mr. Mestel and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Jun 11 2020

35mins

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Episode 4 - Fernando Guerrero, Varadero Capital, LP

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Fernando Guerrero, Portfolio Manager of Varadero Capital, LP looks back at how the Global Financial Crisis shaped banking and credit (6:00), offers his take on the massive government assistance (10:00), why today's uncertain market provides a compelling investment opportunity (13:00), what is forcing asset owners to sell bonds (19:00), examples of opportunities in real estate debt securities (23:30). We finish up with Fernando's thoughts on longer term changes in as a result of the Covid-19 pandemic. The interview was conducted following the March - April 2020 market volatility brought on by the coronavirus outbreak.

This podcast was recorded on April 30th, 2020.  The respective opinions expressed are those of Mr. Guerrero and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

May 15 2020

32mins

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Episode 3 - Warren Fisher, Manole Capital Management

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Warren Fisher, Portfolio Manager of Manole Capital Management details his definition of FinTech (1:30), what exactly is a credit card (6:00), what part of the payment chain presents a compelling investment opportunity (13:40), what they look for in an arbitrage trade (12:30), what inning are we in the digital payments opportunity (18:15), the impact of Covid-19 on FinTech (19:30), why exchanges make an interesting exposure during volatile times (22:00), we finish up with a lightening round of relatively rapid fire Q&A (28:20). The interview was conducted following the March - April 2020 market volatility brought on by the coronavirus outbreak.

This podcast was recorded on April 29th, 2020.  The respective opinions expressed are those of Mr. Fisher and the Biltmore Family Office, LLC investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

May 08 2020

33mins

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Episode 2 - Charlie Carnegie, Context Capital Management

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Charlie Carnegie, Portfolio Manager of Context Capital Management explains exactly what is a convertible bond (2:30), why companies will issue convertible bonds (5:30), the changing convertible bond buyer base (8:30), what they look for in an arbitrage trade (12:30), why they look for crummy companies that can still pay their debts (16:30), the opportunity brought about by Covid-19 (19:00), and why good companies or bad companies provide opportunity (28:30). The interview was conducted following the March 2020 market volatility brought on by the coronavirus outbreak.

This podcast was recorded in April 2020.  The respective opinions expressed are those of Mr. Carnegie and the Biltmore Family Office investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Apr 15 2020

36mins

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Episode 1 - Scott Wallace, Shorepath Capital Management

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Scott Wallace, CIO of Shorepath Capital Management sits down to discuss the perils of styleboxing (6:00), active vs. passive investing (13:00), the value of stocks vs. bonds (19:00), the current opportunity in value stocks (25:00), and thoughts on the political environment (31:00). The interview was conducted in the midst of market volatility brought on by the coronavirus outbreak.
The respective opinions expressed are those of Mr. Wallace and the Biltmore Family Office, LLC (BFO) investment team.  The opinions referenced are as of the date of this podcast and are subject to change without notice.  This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector.  Forward-looking statements are not guaranteed.  BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate.  The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.  Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.  

Biltmore Family Office, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about BFO’s investment advisory services can be found in its Form ADV Part 2, which is available upon request.

Mar 06 2020

34mins

Play