Tell us about yourself. How did your career progress? What recreational activities do you enjoy outside of work?
My wife and I split time between Chautauqua Institution and Charlotte.
Having been very lucky in my career and perhaps a bit connected, my retirement date arrived before age Fifty.
In the last twenty years, my wife, Barbara, and I have wandered through the back roads of over a hundred and twenty countries and have several future adventure plans in the pipeline.
Since our retirement, Barbara has perfected her French language skills and I decided to return to graduate school in search of a Master’s degree. I now possess three new Master’s degrees and have commenced work on a fourth.
While traveling, we’ve enjoyed tasting many of the diverse cuisines across the globe. While it’s too hard to pick a favorite meal, we enjoy eating at places that specialize in one dish. Too often, American restaurants provide an overwhelming menu. There’s beauty in simplicity – simple food done well.
In addition to travel and academics, I sail quite badly. Barb and I are both about the journey not the destination
How has the U.S. stock market hitting all-time highs recalibrated your investment philosophy, if at all?
A large percentage of our net worth is invested in low- to no-fee index funds. As investors, our mantra has been that we are simply not smarter than professionals. Therefore, index funds are a smart choice due to cost savings, higher potential net returns, and simplified decision-making.
Index funds are an attractive option for achieving our long-term investment goals.
How do you consider alternative investments part of overall portfolio diversification?
Many years ago, we invested with Ginkgo. I can’t say I knew much about commercial real estate back then, but one of our neighbors was a principal at Ginkgo and introduced the potential benefits and risks. This was around the great financial crisis of 2008-2009, which presented bargain opportunities.
Since we recognized we might be over allocated to the public markets via index funds, we decided to invest in some projects with Ginkgo. Fortunately, these investments ended up paying back multiple times.
What excites you about your commercial real estate investments?
In addition to investing in the growth of the Carolinas through Ginkgo’s real estate offerings, workforce housing offers a unique combination of financial, social and strategic benefits.
Workforce housing tends to be more recession-resistant than luxury housing. During economic downturns, people are more likely to seek affordable living options. The reality is that we have a housing crisis on our hands. The nation isn’t building fast enough to keep up with new household formations. There’s concern about affordability, especially for first-time homebuyers.
Strong demand, resilience to economic cycles, and positive social impact make workforce housing an appealing option for us.
Where do you read about investing? Are there newspapers or websites?
Unfortunately, I only read history and English literature.
I’ve never subscribed to many finance blogs or investment newsletters. However, studying history and literature reveals cyclical patterns in investment behavior, such as herd mentality, fear, greed, and overreactions to news events. Recognizing these behaviors can help investors avoid common pitfalls and make more rational decisions.
I do, at times, consult my investment advisor regarding a new idea. I think he’ll jokingly admit that our fees pay for him to say no to an occasional lunatic idea.
What has your experience been like thus far?
We chose Ginkgo because we knew the management personally. We understood that they were professionals with a unique edge and unfailing integrity.
Our bet on Ginkgo has been returned manyfold. In our opinion the magic does not reside in the Ginkgo system; though the system is solid. Instead, we believe the magic comes from the creative and adroit management guiding Ginkgo. I suggest that you read the prospectus, meet the leadership, and make up your own mind about Ginkgo. It is worth the effort.
Disclaimer
The statements made in this testimonial are the personal opinions of the investor and are not guarantees of future performance. Individual results may vary, and all investments carry risk. Please conduct your own research or consult with a financial advisor before making any investment decisions.
