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Should You Diversify Away From Tech? The Massive AI Capex Bet and Key Red Flags Book a Call https://zpr.io/W6JaycaP8EeT Evergreen Capital [email protected] The script addresses investors heavily concentrated in technology stocks and offers a framework for deciding whether to reduce exposure as big tech makes an unprecedented, speculative AI bet requiring trillions in capital spending. It argues AI can be world-changing yet still disappoint shareholders if returns on invested capital don’t justify massive buildouts, and highlights red flags: circular, interconnected revenue and investment relationships reminiscent of the telecom unwind; incentives around depreciation schedules that may make recurring AI infrastructure costs look like long-lived assets and boost earnings; and rising use of cheaper open-source models that could commoditize “intelligence,” shifting value to customers. Using railroads, fiber, and airlines as parallels, it warns transformational tech can still be a poor investment, and that AI stocks can underperform even if AI succeeds if results take longer than valuations assume. It concludes with diversification and tax-aware rebalancing considerations, especially near retirement. 00:00 Tech Heavy Portfolio 00:31 AI Capex Mega Bet 02:26 Red Flag One Spaghetti Deals 03:47 Red Flag Two Depreciation Games 05:28 Red Flag Three Model Commoditization 07:19 History Warns Infrastructure 09:34 Math Behind Expectations 11:19 Diversify And Rebalance 11:53 Taxes And Next Steps Hosted on Acast. See acast.com/privacy for more information.

The Fed Put May Be Ending: How a Warsh-Led Regime Change Could Reshape Investing Book a Call https://zpr.io/W6JaycaP8EeT Evergreen Capital [email protected] The Fed Put May Be Ending: How a Warsh-Led Regime Change Could Reshape Investing The script argues that the 15-year era of heavy Federal Reserve market support—lower rates, liquidity, and quantitative easing that encouraged “buy the dip” and inflated asset pricing—may be ending under new Fed chair Kevin Warsh, who wants a smaller, quieter Fed with less intervention and fewer tailwinds for growth-at-all-cost assets, shifting markets from liquidity-driven to cash-flow-driven returns. It says this is a regime change more important than any single rate cut, critiques the Fed’s lagging inflation measures, and notes hotter inflation and war-driven energy price spikes complicate near-term easing. The author “handicaps” three likely changes: smoothing inflation data and de-emphasizing the 2% target to allow modest short-rate cuts while keeping long rates higher, potentially selling mortgage-backed securities to pressure mortgage yields, and leaning on AI productivity while debt is inflated away. For income investors, cash/T-bills may become less compelling, volatility may rise without a “Fed put,” and hard assets with pricing power and contractual cash flow may outperform; the biggest mistake is sticking with the post-2009 growth/multiple expansion playbook instead of building durable income portfolios. 00:00 Fed Put Era Ending 00:54 Warsh Regime Shift 01:47 Inflation Data Debate 02:49 Handicapping Not Forecasting 03:51 Three Fed Changes 06:14 Yield Curve Reality Check 06:42 Income Investor Playbook 08:46 Avoid Old Growth Trap 09:08 Build Durable Income 09:34 Wrap Up And Next Steps Hosted on Acast. See acast.com/privacy for more information.

Episode Description In this episode, Brad Johnson explains how business owners can turn the proceeds from selling a company or experiencing a major liquidity event into passive monthly income that can fund retirement indefinitely. He shares why many entrepreneurs reach the finish line without a real plan for their wealth, why traditional stock-and-bond portfolios often feel misaligned after an exit, and how Evergreen’s two-engine income strategy is designed to create both dependable cash flow today and income growth for the future. Brad also covers the trade-offs of private markets, the importance of choosing the right advisor, and why focusing on income goals can be far more useful than chasing a net worth number. Book a Call https://zpr.io/izgjKaDsgQNw Evergreen Capital [email protected] Connect with Brad Johnson https://www.linkedin.com/in/bradleyjohnson/ Key topics: • How entrepreneurs can convert a major liquidity event into passive monthly income • Why many business owners feel unprepared for life and money after selling a company • The emotional and practical challenges entrepreneurs face after retirement • The difference between managing investments yourself and outsourcing portfolio strategy • Why traditional ETF-and-bond portfolios often fall short for business owners • How Evergreen’s two-engine income strategy combines private income investments with dividend growth stocks • What goes into vetting high-quality private asset managers • Why many traditional advisors struggle to implement private market strategies • The pros and cons of private investments, including illiquidity • Why setting a passive income target may matter more than aiming for a specific net worth Timestamps: 00:00 - Introduction: Converting Liquidity into Passive Income 00:59 - Post-Retirement Ambitions for Entrepreneurs 01:57 - Options for Portfolio Management: DIY vs. Outsourcing 02:32 - The Limitations of Vanilla Investment Strategies 03:56 - The Evergreen Income Strategy: Two Engines 04:51 - Vetting High-Quality Asset Managers 05:14 - Choosing the Right Advisor for Private Markets 07:04 - The Trade-offs: Illiquidity and Behavior 08:38 - Focusing on Income Goals over Net Worth 10:03 - Next Steps and Resources Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson shares ten real-world real estate nightmares that show why rental properties are far from passive. Drawing from over $150 million of investment experience, he walks through costly mistakes, unexpected risks, and operational headaches that investors rarely see coming. Brad also explains why these experiences ultimately led him to shift toward more passive, income-focused investments. Book a Call https://zpr.io/czXpQcCXKQLX Evergreen Capital [email protected] Connect with Brad Johnson https://www.linkedin.com/in/bradleyjohnson/ Key topics: • Why real estate is often far more operationally intensive than investors expect • The hidden risks that can turn “passive income” into active problem-solving • How natural disasters can create unexpected repair costs and insurance battles • Tenant-related risks, from property damage to eviction challenges • Legal exposure and how small issues can turn into lawsuits • Infrastructure failures and environmental risks in real estate investing • The financial impact of rare but severe events like flooding and system failures • How employee issues and fraud can affect property performance • Why unpredictable expenses can erode returns over time • Why many investors eventually shift toward more passive income strategies Timestamps: 00:00 - Introduction 00:20 - Tornado Damage 01:10 - Unauthorized Dog Breeding 01:34 - Hoarding and Hazmat Cleanup 01:50 - Hurricane Scare 02:06 - The “Professional Tenant” 02:47 - Lawsuit Over a One-Inch Curb 03:14 - Lift Station Failure 03:48 - Ice Dam and Flood 05:03 - Employee Theft 05:43 - Massive Water Leak 06:29 - Why I Moved to More Passive Investments Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson breaks down the biggest mistakes dividend investors make and why chasing high yield can quietly hurt long-term results. He explains what dividend investors should actually focus on, how to identify stronger businesses with staying power, and why dividend growth matters far more than the highest starting yield. Brad also shares how Evergreen Capital thinks about pairing dividend growth stocks with alternative income-producing assets for high-net-worth investors. Book a Call https://zpr.io/W6JaycaP8EeT Evergreen Capital [email protected] Connect with Brad Johnson https://www.linkedin.com/in/bradleyjohnson/ Key topics: • Why the goal of dividend investing is lasting income, not just a high starting yield • How yield traps can pull investors into weak businesses with unsustainable payouts • What to look for in quality dividend growth stocks • Why Texas Pacific Land Trust is a useful case study in dividend growth investing • How yield on cost compounds over time • The behavioral benefits of owning cash-flowing investments • Why over-concentrating in REITs can create portfolio risk • How payout ratios help reveal whether a dividend is sustainable • The tradeoff between total return investing and dividend-focused investing • Why high-net-worth investors often prefer income-producing portfolios Timestamps: 00:00 - Introduction to Dividend Investing 00:21 - The Goal of Dividend Investing 00:39 - Avoiding Yield Traps 01:40 - Finding Quality Dividend Growth Stocks 02:34 - Case Study: Texas Pacific Land Trust (TPL) 03:51 - The Power of Yield on Cost 04:31 - Behavioral Benefits of Dividends 05:20 - Risks of Over-Concentrating in REITs 06:08 - Understanding Payout Ratios 07:13 - Total Return vs Dividend Strategy 08:04 - Achieving Market Returns with Quality Growers 09:03 - Strategy for High-Net-Worth Investors Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson explains how the financial advice industry actually works behind the scenes. He breaks down how most advisors are paid, where conflicts of interest can appear, and why many portfolios still rely on outdated strategies like the traditional 60/40 stock and bond allocation. Brad also shares how Evergreen Capital approaches investing differently, with a focus on income-producing assets, private markets, and fee structures designed to better align incentives with clients. Book a Call https://zpr.io/xiRBGeUg5g6q Evergreen Capital [email protected] Connect with Brad Johnson https://www.linkedin.com/in/bradleyjohnson/ Key topics: • Why most financial advisors rely on the traditional 60/40 stock and bond portfolio • The biggest problem with the standard assets under management (AUM) fee model • How uncapped advisory fees can grow dramatically over time • Where hidden fees and commissions still exist in the financial advice industry • The difference between fiduciary advisors and broker-dealers • Why many advisors avoid private market investments and alternatives • How incentives shape the advice clients receive • The risks of relying on the 4% withdrawal rule in retirement • Why income-producing portfolios may be a better fit for many entrepreneurs and business owners • How AI is beginning to disrupt the traditional financial planning model Timestamps: 00:10 - How do you differentiate between financial advisors? 01:08 - What’s wrong with the financial advisor business model today? 02:40 - How is your company different from other financial advisors? 03:37 - How do financial advisors get paid? Which payment models do you like and which do you find problematic? 06:11 - Where are financial advisors hiding fees in their contracts? 07:04 - How can clients go about identifying fees their current advisor is hiding? 07:58 - Fiduciaries are typically safer, but is knowing they’re a fiduciary enough? 08:49 - In your opinion, many advisors operate in outdated ways. How so? 11:32 - What is the root of the problem? Why do advisors use outdated strategies? 14:01 - What other conflicts of interest do you see in the most common advisor models? 15:40 - How can clients differentiate between recommendations that are strategy based versus incentive based (favor the advisor)? 17:19 - What questions should clients ask their current financial advisors in their next meeting after having watched this interview? 19:55 - How does your investment philosophy effect the strategies you employ for your clients? 20:58 - What are the most common poor fitting recommendations you see wealthy families pushed into? Why do those pitches work? 23:02 - When should wealthy families consider switching from their traditional advisor, to one with a more customized approach? 24:01 - Do you believe traditional financial advisors are an enemy to wealth generation? 30:08 - What patterns should clients learn to identify in financial advice, that will help them safeguard their wealth? 32:20 - Closing thoughts Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson breaks down the recent news of Bill Ackman selling 10% of his hedge fund, Pershing Square, highlighting the strategic reasons behind this move and its implications for GP stakes investing. Discover the key differences between investing in hedge funds and private equity firms and what this means for investors. GP Stakes Research: https://www.evergreencap.com/gp-stakes-investing Evergreen Capital: [email protected] Connect with Brad Johnson https://www.linkedin.com/in/bradleyjohnson/ Key topics - 5-10 bullets:Why Bill Ackman sold 10% of Pershing Square for about $1 billion, valuing the fund at $10 billionAckman's growth plans with a potential $25 billion fund aimed at retail investorsThe significance of valuation multiples: private equity vs hedge fundsThe importance of a fund's longevity, team stability, and strategy diversity in private equityRisks associated with minority stakes in hedge funds due to key man risk and firm dependenceComparison of private equity and hedge fund structures for minority investmentsHow Ackman's move exemplifies strategic growth and capital deployment in alternative investmentsWhy private equity firms tend to be more stable and less vulnerable than hedge fundsWhat this case reveals about the evolving GP stakes market and investor considerationsBrad’s perspective on Ackman’s future success with this strategic sale Timestamps: 00:00 - Bill Ackman’s $1 billion stake sale explained 00:23 - Why hedge fund minority stakes can signal growth, not decline 00:44 - Ackman’s ambitious plans with new funds and growth strategy 01:03 - Valuation implications: what a 10% stake says about Pershing Square 01:56 - How private equity valuations compare with hedge fund multiples 02:21 - The significance of fund longevity and team stability in private equity 02:46 - Risks of investing in hedge fund minority interests 03:23 - Differences between hedge fund and private equity structures 03:46 - The stability and resilience of private equity firms 04:05 - The vulnerabilities of hedge funds in minority stakes 04:57 - Why private equity is a more reliable investment space 06:27 - Final thoughts: Ackman’s future and what this means for GP stakes investing Hosted on Acast. See acast.com/privacy for more information.

In This Episode, You’ll Learn:The Wake-Up Call: Why a surgeon’s salary wasn't enough to solve financial burnout.The Hybrid Approach: How to balance index funds with high-yield real estate.The First Deal: A breakdown of Jordan’s first duplex and his 10% cash-on-cash target.Tax Alpha: How his wife’s "Real Estate Professional Status" (REPS) supercharged their wealth.Scaling Secrets: Moving from one property to a portfolio that produces $11k/month in cash flow.Avoid the "Doctor Trap": The 3 biggest mistakes physicians make when investing in alternatives. Resources Mentioned:The Prudent Plastic Surgeon: prudentplasticsurgeon.comStrategy Call with Evergreen: Book HereThe Alternative Investor Newsletter: Join HereEmail Jordan: [email protected] with Brad Johnson:Website: evergreencapital.com Chapters:00:00 – Why financial freedom matters for doctors03:09 – Index funds vs. Real Estate: The hybrid strategy04:10 – Breaking down the first duplex deal06:51 – Systems, automation, and team building10:26 – Replacing clinical income with passive cash flow23:25 – Common mistakes doctors make in alternative assets30:49 – The emotional impact of recurring investment income Hosted on Acast. See acast.com/privacy for more information.

Sign up to access our deal flow: https://altinvestor.beehiiv.com/ To speak with our team: [email protected] This episode challenges the common belief that family offices are only for billionaires, explaining how wealth management should evolve as income and complexity increase. It emphasizes the importance of treating personal finances like an operating system, focusing on after-tax cash flow, and integrating alternative investments for better tax efficiency and cash flow management. The discussion highlights the limitations of traditional financial advice and the benefits of a family office approach, which includes private equity, real estate, and private credit to solve problems that public markets and retirement accounts do not address effectively. Keywordsfamily offices, wealth management, alternative investments, tax efficiency, cash flow, private equity, real estate, financial advice, operating system, personal balance sheet TakeawaysFamily offices aren't just for billionaires.Traditional advice often stops working as wealth grows.Focus on after-tax cash flow, not just retirement accounts.Integrate private investments for better tax efficiency.Treat personal finances like an operating system.Ask how capital should be deployed for maximum returns.Consider alternative investments for predictable income.Avoid unnecessary ordinary income tax.Coordinate investments, taxes, and liquidity.Build a system, not just a portfolio.Title OptionsRethinking Wealth: Beyond Billionaire Family OfficesTransforming Personal Finance into an Operating SystemThe Hidden Costs of Traditional Financial AdviceUnlocking the Power of Alternative InvestmentsFamily Office Strategies for Everyday InvestorsMaximizing Returns with Tax EfficiencyBeyond ETFs: A New Approach to WealthThe Family Office Mindset: Not Just for the Ultra-RichBuilding Wealth with Private InvestmentsFrom Retail Advice to Family Office ThinkingSound bitesFamily offices aren't just for billionaires. Traditional advice stops working as wealth grows. Focus on after-tax cash flow. Integrate private investments for efficiency. Treat finances like an operating system. Maximize returns with strategic capital deployment. Predictable income through alternative investments. Avoid unnecessary ordinary income tax. Coordinate investments, taxes, and liquidity. Build a system, not just a portfolio. Hosted on Acast. See acast.com/privacy for more information.

Apply for a Strategy Call with Evergreen: https://bit.ly/4pqK1Kk The discussion delves into how the ultra-wealthy leverage real estate investments to generate significant paper losses, which in turn compound their wealth and reduce taxes. The conversation highlights the impact of the new tax bill, allowing accelerated depreciation, and emphasizes the strategic importance of choosing the right property types to maximize tax advantages. The long-term strategy of using real estate as a major asset class for tax benefits is explored, showcasing how the tax code rewards ownership of productive assets. Keywordsreal estate, tax strategy, ultra-wealthy, depreciation, tax bill, property investment, paper losses, wealth compounding, tax advantages, productive assets TakeawaysThe ultra wealthy buy real estate for the tax losses.Large paper losses compound wealth and reduce taxes.The new tax bill allows accelerated depreciation.Federal and state taxes can be significantly reduced.Depreciation is a key concern for the wealthy.Think of depreciation as a consistent tax strategy.Real estate is a long-term strategy for the wealthy.Choosing the right property types is crucial.Real estate is the only major asset class for tax benefits.The tax code rewards owning productive assets.Sound bitesThe ultra wealthy buy real estate for tax losses. Large paper losses compound wealth. Accelerate everything 15 years or less. A $500,000 paper loss can translate. Depreciation is a consistent tax strategy. The wealthy use real estate for tax benefits. Maximize tax advantages with the right property. Real estate shows a loss, reduces taxes. The tax code rewards owning productive assets. Real estate is the only major asset class. Chapters00:00:08 Introduction to Real Estate and Taxes00:01:09 Impact of the New Tax Bill00:03:22 Federal and State Tax Reduction00:04:23 Depreciation as a Strategy00:05:40 Long-Term Real Estate Strategy00:07:06 Choosing the Right Property Types00:08:31 Real Estate as a Major Asset Class00:08:48 Tax Code and Productive Assets Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson sits down with Bridger Pennington, founder of FundLaunch and FundLaunch Partners, to break down why most first-time funds struggle and how GP seeding is reshaping the private markets. Bridger shares how his firm reviews more than 1,200 emerging manager applications a year, why micro-funds can outperform larger peers, and how GP stakes combined with operational support create asymmetric upside. The conversation also dives into FundLaunch AI, a new platform designed to cut fund formation timelines from months to days. What You’ll Learn Why most first-time funds fail before they ever scaleHow GP seeding works and why institutions are increasingly focused on itThe difference between institutional GP stakes and micro-fund seedingHow FundLaunch filters 1,200 managers down to roughly 10 investmentsWhy niche strategies outperform at smaller fund sizesHow tranche-based capital and option-like structures reduce downside riskWhy no-fee, no-carry GP economics matter for long-term compoundingWhat institutional investors actually look for in Fund II and Fund IIIHow FundLaunch AI aims to replace expensive early-stage legal and structuring workWhy ownership and private markets matter in today’s economic cycle Key Topics Discussed GP seeding and GP stakesEmerging and first-time fund managersMicro funds vs institutional fundsPrivate equity, private credit, real estate, and niche strategiesFund formation, compliance, and back-office infrastructureAI and software in private fund creationLong-term compounding through GP economics Hosted on Acast. See acast.com/privacy for more information.

In this episode, we sit down with Richard Wilson, founder of the Family Office Club, to pull back the curtain on how the ultra-wealthy manage, protect, and grow their fortunes. With a community representing over $14 trillion in assets, Richard shares insider strategies that go far beyond standard wealth management. We dive deep into the "Billionaire" playbook for deal structuring—explaining why the wealthiest investors care less about fees and more about custom terms like warrants and gross revenue royalties. Richard also reveals how family offices are leveraging Artificial Intelligence to automate due diligence, acting as a "second brain" to process deals faster and more deeply. Whether you are an investor looking to start your own family office, or a sponsor seeking to raise capital from them, this episode provides a rare look into the operational and investment tactics of the super-rich. Evergreen Capital: www.evergreencap.com [email protected] Family Office Club: FamilyOffices.com Hosted on Acast. See acast.com/privacy for more information.

www.evergreencap.com [email protected] In this episode of "The CIO Brief," Brad Johnson, Managing Director and CIO of Evergreen Capital, delves into the complexities of the current economic landscape. From the lessons learned from legendary figures like Jamie Dimon to the evolving attitudes towards cryptocurrency, Brad offers insights into market trends and investment strategies. Join us as we explore the intricacies of family office investments, the impact of geopolitical concerns, and the future of digital currencies. Whether you're an investor or simply curious about the financial world, this episode provides valuable perspectives on navigating today's economic challenges. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Brad Johnson explores the world of tax loss harvesting, covering basic to advanced strategies. Learn how to leverage these techniques to enhance your investment portfolio and reduce tax liabilities. www.evergreencap.com [email protected] 0:00 Introduction to Tax Loss Harvesting 5:00 Basic Tax Loss Harvesting Explained 15:00 Direct Indexing and Its Benefits 25:00 Advanced Strategies with Leverage 35:00 Common Mistakes and How to Avoid Them 45:00 The Future of Passive Investing 55:00 Conclusion and Final Thoughts Disclaimer: This podcast is for informational and educational purposes only. It should not be construed as investment, tax, or legal advice. Opinions expressed are those of the host and guests and do not necessarily reflect the views of Evergreen Capital or its affiliates. All investments involve risk, including the possible loss of principal. Past performance is not indicative of future results. Listeners should consult their own financial, tax, and legal professionals before making any investment decisions. Advisory services are offered through Evergreen Capital, a registered investment adviser. Hosted on Acast. See acast.com/privacy for more information.

Brad shares his philosophy on the importance of holding prime assets and the compounding advantages of quality investments, whether in stocks or real estate. https://www.evergreencap.com/Keywordsinvesting, quality assets, investment philosophy, market efficiency, long-term returns TakeawaysQuality over high returns is key in investing.Market efficiency has increased over the years.ETFs are recommended for most client portfolios.Prime assets retain value even in downturns.Quality investments compound advantages over time.Real estate can offer long-term returns.Distressed assets are risky but can be opportunities.Holding quality assets leads to compounding capital.Investing in quality can feel uncomfortable but pays off.Focus on quality is the major lesson in investing. Hosted on Acast. See acast.com/privacy for more information.