Podcast: Cobblestone Capital Advisors

Cobblestone Capital Advisors

Episode 56 - The State of the World - Investing Amid Global Shifts

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00:00 / 32:27

This week, we’re diving deep into the world of global finance with a truly special guest—Jeff Kleintop, Chief Global Investment Strategist at Charles Schwab. With a staggering $7 trillion in assets under management, Schwab’s insights shape the financial landscape, and Jeff is at the helm of international market analysis. In this episode, Jeff unpacks the latest on tariffs, trade tensions, global economic trends, and market opportunities—including why Europe’s “New Magnificent Seven” might be the next big thing. Plus, we tackle investor confidence, employment shifts, and the ever-changing role of the U.S. in global trade. Is international investing finally having its moment? Should you rethink your portfolio strategy? Tune in as we break it all down with Jeff’s expert take! Listen now and get ahead of the market curve!

Key Takeaways:

• How are the proposed tariffs and global trade policies expected to impact international markets and supply chains?
• What factors are influencing consumer confidence and employment trends in the U.S., and how might they affect the broader economy?
• Why have international markets, particularly in Europe, been outperforming U.S. stocks, and what are the implications for investors?

Key Timestamps:

(00:00) – The global market landscape

(04:00) – European tariffs and their economic impact

(06:00) – The real impact of tariffs

(08:00) – International market uncertainty

(09:00) – Germany’s increased defense spending

(12:00) – Rising US recession risks

(14:00) – The effect of government spending cuts on GDP

(18:00) – International stock outperformance

(19:00) – The role of China and India in emerging markets

(25:00) – Shipping, tariffs, and global politics

(30:00) – New investment opportunities

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Wealth Management Rochester NY, Financial Planning for Families, Fiduciary Financial Advisor, Comprehensive Financial Planning, Retirement Planning Advice, Tax-Efficient Investing, Risk Management for Investors, Generational Wealth Transfer Planning, Financial Strategies for High Earners, Personal Finance for Entrepreneurs, Behavioral Finance Insights, Asset Allocation Strategies, Advanced Estate Planning Techniques, Global investment strategies, International Stock Market Trends, Tariff Impact on the US Economy

 Mentions:

LinkedIn: https://www.linkedin.com/in/jeffrey-kleintop/

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 55 - Stock Options, RSUs, & Managing Concentration Risk

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00:00 / 32:41

Stock options. Restricted stock units (RSUs). They sound like Wall Street jargon, but if part of your paycheck comes in company stock, these terms could make—or break—your financial future. Join hosts Jesse Cramer and Gabe Chodak as they dive into the world of equity compensation, with Certified Financial Planner (CFP), Allison Shuler. Together, they unravel the complexities of stock compensation, the tax implications you can’t ignore, and the common mistakes that could leave thousands (or more!) on the table. Whether you’re cashing in RSUs, exercising stock options, or navigating a high-stakes compensation package, this episode is your essential guide to making smarter financial moves. If you earn part of your paycheck in company equity, don’t miss this one.

Key Takeaways:

• Should you hold or sell your stock grants?
• How does equity compensation impact your investment strategy?
• What happens to your stock if you leave your company?

Key Timestamps:

(00:00) – The rise of equity compensation: Why more employees are getting paid in stock.

(03:00) – Stock Options vs. RSUs: Key differences and why they matter.

(06:00) – How RSUs are taxed: The crucial moment when you owe the IRS.

(08:00) – NSOs vs. ISOs: Which stock options come with better tax benefits?

(11:00) – Common mistakes employees make with stock compensation.

(13:00) – The risk of holding too much company stock: Why overexposure can be dangerous.

(17:00) – The tax dilemma: Holding too long vs. selling too soon.

(23:00) – How to create a strategy for selling stock and reducing risk.

(26:00) – The hidden risks of equity-heavy compensation packages.

(28:00) – Why you need an accountant and financial planner to optimize your strategy.

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Wealth Management Rochester NY, Financial Planning for Families, Fiduciary Financial Advisor, Comprehensive Financial Planning, Retirement Planning Advice, Tax-Efficient Investing, Risk Management for Investors, Generational Wealth Transfer Planning, Financial Strategies for High Earners, Personal Finance for Entrepreneurs, Behavioral Finance Insights, Asset Allocation Strategies, Advanced Estate Planning Techniques, stock options, RSUs, equity compensation, taxes, compensation income, capital gains, financial plan, investment, diversify, NSOs, ISOs, Allison Shuler

Mentions:

Allison’s LinkedIn: https://www.linkedin.com/in/allison-schraf-shuler-cfp®-003870119

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 54 - Cobblestone's Best Thinking on 2025

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00:00 / 27:19

John DiPasquale, managing partner at Cobblestone Capital Advisors reflects on his 26 years with the firm, discussing its evolution from a small team to a mid-sized business with a strong focus on client satisfaction and sustainable growth. The conversation transitions into a discussion on macroeconomic factors, the importance of setting realistic market expectations, and the role of goals-based investing. John also highlights future plans, including new private investment opportunities, and shares personal insights on his passion for the industry and the relationships he and the team have built with clients over the years. The episode reviews the key highlights of 2024 and shares the firm’s outlook for 2025.

Key Takeaways:

• How has Cobblestone evolved over the years, and what role do client relationships and referrals play in the firm’s growth?
• How does Cobblestone approach market predictions, and how does the firm integrate goals-based investing into their wealth management strategy?
• What are Cobblestone’s strategies for addressing client concerns related to economic uncertainties, and what are the firm’s plans for navigating the financial landscape in 2025?

Key Timestamps:

(00:00) – Reflecting on 2024

(01:40) – Cobblestone’s Growth and Success

(03:25) – Client Relationships and Market Insights

(07:11) – Economic Trends and Predictions

(11:26) – Building a Resilient Portfolio

(18:10) – Looking Ahead to 2025

 Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, investing markets, financial, client concerns, inflation and interest rates, Fed policy, economic uncertainty, portfolio management, wealth management, tax cuts, investment strategy, market predictions

 Mentions:

LinkedIn: https://www.linkedin.com/in/johndipasquale1/

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 53 - Avoid These Common Residential Real Estate Investing Mistakes

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00:00 / 35:28

Michael Burton, a private investment analyst at Cobblestone Capital Advisors explores the intricacies of residential real estate investing. He shares his journey from junior year in college to owning multiple rental properties in Rochester, New York, and explains the due diligence required for successful real estate investments. The conversation includes insights into the importance of proper tenant screening, managing maintenance and capital improvements, the significant time commitment required, and the advantages of scaling up the number of rental units. Michael also compares direct property investment with other real estate exposure options such as public REITs and private funds, highlighting the risks and benefits of each. The episode wraps up with personal anecdotes and advice for those considering entering the residential real estate market.

Key Takeaways:

• What are some key considerations and potential risks when investing in residential real estate?
• How can prospective property investors balance between personal involvement and hiring third-party services to manage properties?
• What are the alternative ways to gain exposure to real estate investments without direct property ownership?

Key Timestamps:

(00:00) – Michael’s Journey into Real Estate

(04:07) – The Realities of Property Management

(07:57) – Financial Considerations and Risks

(16:46) – Tenant Management and Property Scale

(19:54) – Alternative Real Estate Investment Options

(28:26) – Leveraging Debt in Real Estate

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Michael Burton, Rochester New York, financial planning, investment management, residential real estate investing, rental property, real estate portfolio, investment portfolio, real estate development, FHA loan, property investment, real estate investment solutions.

Mentions:

LinkedIn: https://www.linkedin.com/in/michael-burton-8b2446183

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 52 - What You Need to Know Before Selling Your Business: Tips From an Investment Banker

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00:00 / 28:59

David Riley, an expert in investment banking, discusses the intricacies of the industry, especially within the context of Western New York. He breaks down how investment banks facilitate large-scale financial transactions, including mergers, acquisitions, and capital raising. David also delves into the different market segments, from top-tier firms like Goldman Sachs to middle-market institutions. He highlights the vital role of investment banks in ensuring smooth transactions, particularly for family-owned businesses, and the importance of early planning and professional advising.

Key Takeaways:
• What are some common misconceptions about investment banking, and how can business owners begin to understand the process better?
• How can business owners enhance the value of their companies to make them more attractive for sale or transition?
• What unique challenges and considerations are there for family businesses during ownership transition or business sale?

Key Timestamps:
(00:00) – Defining Investment Banking
(00:36) – Roles and Responsibilities of Investment Banks
(01:42) – Investment Banking in the Middle Market
(05:30) – Family Business Transitions
(12:03) – Increasing Business Value for Sale
(18:21) – The M&A Process
(22:34) – Acquiring Businesses for Growth
(24:00) – Living and Enjoying Western New York

Key Topics Discussed:
The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, investment banking, investment bank, middle market, family business transitions, mergers and acquisitions, investment memorandum, business valuation, customer concentration, enterprise value, private equity, business acquisition

Mentions:
Website: https://www.transituscap.com/
LinkedIn: https://www.linkedin.com/in/david-riley-transitus
More of The Trusted Partner:
Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 51 - Life's Best Investments Aren't Financial

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00:00 / 34:17

Gabe and Jesse explore the world of travel with Kim Greulich, owner of KG Travel Club. As a travel expert, Kim guides listeners through enhancing travel experiences beyond conventional methods. The discussion covers the importance of travel as an investment in personal growth and family bonding, exploring lesser-known destinations, and smart budget management. Additionally, Kim shares insights on the benefits of using travel insurance and optimizing credit card points. Listeners are encouraged to prioritize experiential and transformative travel over visiting typical tourist spots, integrating cultural understanding and connection into their journeys.

Key Takeaways:

• How can travel be viewed as an investment in personal growth and happiness?
• What are some of the most popular, yet underrated, travel destinations today?
• How can travelers effectively budget without compromising on unique and enriching experiences?

Key Timestamps:

(00:00) – The Value of Travel as an Investment

(08:12) – Exploring Unique Travel Destinations

(10:55) – Budgeting and Luxury in Travel

(21:46) – The Role of Travel Insurance

(24:13) – Maximizing Travel Points and Rewards

(27:20) – Do’s and Don’ts of Travel

(30:16) – Jesse and Gabe’s Memorable Travel Experiences

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, travel

Mentions:

Website: https://www.kgtravelclub.com/

LinkedIn: https://www.linkedin.com/in/kimberly-greulich-9a6b257

Mentions: Die With Zero, Tablet Hotels

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 50 - Fed Rate Cuts. Now What?

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00:00 / 33:56

Gabe and Jesse discuss the Federal Reserve’s recent September 20th 50 basis points rate cut and its ramifications. They explore the effects on various investment decisions, such as high-yield savings accounts and fixed-income investments, and the broader implications for the stock and real estate markets. They also address how high-net-worth individuals and retirees might be impacted. The episode provides practical advice on navigating these changes and emphasizes the importance of having a solid financial plan. Then hear about Gabe and Jesse’s light-hearted fall traditions.

Key Takeaways:

• The federal reserve’s recent cut by 50 basis points and its potential impact on short-term and long-term financial strategies
• The conversation highlighted how interest rate changes affect various aspects of personal finance, such as high-yield savings accounts, credit card rates, and mortgage rates.
• Discussions also covered broader economic implications, including potential effects on the housing market, retirement planning, and how well-constructed financial plans should not be overly sensitive to interest rate fluctuations.

Key Timestamps:

(00:00) – How Do Federal Rate Cuts Impact Investors?

(04:20) – Fixed Income Investments

(10:12) – The Stock Market

(14:05) – Mortgage Rates

(20:06) – Retirement Planning

(25:10) – Total Bond Markets

(25:55) – Will Stimulation Bring Inflation?

(30:29) – Fun Fall Activities

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 49 - Sports Cards: Cardboard or Currency?

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00:00 / 38:29

Zach Stanley joins the podcast to share insights into the future of the sports card industry, its role as an alternative asset and Zach’s personal stories of treasured sports memorabilia. Zach explains the concept of card breaking, the financial rationale for buying specific teams and its impact on the sports card industry. He elaborates on the evolution of the industry, describing how it has been driven by entertainment and social components emphasizing the importance of creating engaging experiences for collectors. Zach also discusses how new technology and social platforms have reshaped the hobby, making it a unique intersection of memorabilia, fandom, and investment.

Key Takeaways:

• Zach explains the concept of card breaking, where participants buy “teams” in a sealed card product, and receive the cards of their chosen team that are revealed during a live-streamed unboxing. This has driven the sports card industry to new heights, creating a blend of entertainment and community involvement.
• The discussion delves into how sports cards are valued, focusing on supply, demand, rarity, and player popularity. Zach emphasizes that analyzing these factors is akin to evaluating stocks or other investments, where rarity and market demand play crucial roles.
• Zach highlights the transformation of the sports card industry facilitated by technological advancements, digital platforms, and innovative experiences. He predicts continued growth driven by enhanced fan engagement and the creation of unique collectible opportunities, such as memorabilia cards and experiential rewards.

Key Timestamps:

(00:00) – The Evolution of the Sports Card Industry

(04:36) – Card Breaks

(10:15) – Art and Collectability

(14:04) – Investment Strategies in the Card Market

(17:14) – Analyzing Player Value in Card Investments

(21:42) – The Future of Card Collecting

(22:41) – Fanatics’ Impact on the Hobby

(23:32) – Technological Advancements

(27:20) – Handling Inherited Card Collections

(33:03) – Personal Stories of Sports Memorabilia

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, trading cards, sports cards, sports memorabilia

Mentions:

Website: https://www.wethehobby.com/

LinkedIn: https://www.linkedin.com/in/zach-stanley-945a2723/

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 48 - Hedge Funds Greedy or Misunderstood

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00:00 / 38:58

Jesse and Gabe are joined by Jason Garlock, Chief Investment Officer at Cobblestone Capital Advisors, to demystify hedge funds. The conversation covers what hedge funds are, their legal structure, investment strategies, performance metrics, fee structures, and regulatory environment. Jason draws comparisons with mutual funds and traditional investments, emphasizing the importance of understanding the manager’s role and strategy. The episode also touches on the relevance of hedge funds in modern portfolios and effective ways to benchmark their performance. Finally, the group ends on a lighter note with a fun discussion on their personal ‘long’ and ‘short’ bets.

Key Takeaways:

• What are the differences between hedge funds and mutual funds?
• How do hedge funds use short selling, arbitrage, and global macro as a financial strategy?
• What role do the managers and investors play in the legal structure of a hedge fund?
• What constitutes an appropriate benchmark for hedge fund performance?
• What are Jesse, Gabe and Jason long and short on when it comes to living the best life?

Key Timestamps:

(00:00) Introduction

(02:01) What is a Hedge Fund?

(02:26) Legal Structure and Advantages

(04:03) Investment Strategies and Transparency

(05:50) Hedge Funds vs Mutual Funds

(10:39) Leverage in Hedge Funds

(14:44) Benefits for Hedge Fund Managers vs Investors

(18:00) Understanding Hedge Fund Fees

(21:53) Consumer Protection

(28:51) Benchmarking Hedge Fund Performance

(33:30) Private Investments vs. Hedge Funds

(36:04) Personal Long and Short Bets

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Rochester New York, financial planning, investment management, long short hedge funds, mutual funds, private equity, hedge fund managers, investors

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.

Cobblestone Capital Advisors

Episode 47 - Should Couples Combine Their Finances?

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00:00 / 37:05

Jesse and Gabe sit down with Allison Schraf, a Senior Wealth Planner at Cobblestone Capital Advisors, to discuss the pros and cons of couples (whether married or not) combining their finances. Topics include:

– the importance of communication, transparency, and compromise.

– practical advice on creating a household budget, allocating expenses, and managing joint finances.

– the importance of updating beneficiaries and life insurance coverage after marriage, and updating personal property coverages.

– the need to periodically review and update these arrangements to ensure they align with changing financial needs and circumstances.

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.