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Speaker 1: Joining us around the table. Sunni fraud Check, the CEO

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Speaker 1: and co founder of alaves A digital financial advisor, joined us. Now, Hallo, Sonny,

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Speaker 1: good to see it.

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Speaker 2: Good morning. Let's get to.

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Speaker 1: See your personal view. First. You are bullish, constructive, optimisticalness

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Speaker 1: for my personal view.

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Speaker 2: So first of all, la us digital advisor. Yes, wealth

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Speaker 2: management company, also funded by founded by built by built

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Speaker 2: for investing in investing through women. So I'm going to

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Speaker 2: bring the woman's point of view here today. Yes I

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Speaker 2: am personally bullish, doesn't particularly matter, but I do think

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Speaker 2: what we've learned by the way I thought watching your

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Speaker 2: Own Power last night, it's hard not to watch that

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Speaker 2: individual and say, boy, I have confidence in him. And yes,

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Speaker 2: maybe it's not March, maybe it's June, maybe it's a

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Speaker 2: little later. But my personal bullishness I seem to learn

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Speaker 2: again and again, don't fight the Fed. Don't fight the Fed. Right,

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Speaker 2: the FED took on the subprime crisis, and one took

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Speaker 2: on the pandemic, and one took on Silicon Valley Bank,

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Speaker 2: and one tightened last year or year two years ago

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Speaker 2: and the market went down. Don't fight the Fed are

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Speaker 2: very powerful and if the rates are going to be

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Speaker 2: going down, I'm personally feeling bullish doesn't affect our asset

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Speaker 2: allocation at Elvest at all, by the.

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Speaker 3: Way, Well, okay, so let's talk about that. Is there's

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Speaker 3: sort of the similar kind of bullishness underpinning certainly your

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Speaker 3: clients use, but also some of the asset allocations that

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Speaker 3: you have.

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Speaker 1: Yeah.

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Speaker 2: Currently, Well, when we do our asset allocation, we look

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Speaker 2: at long term returns that we're expecting and they're terrific. Right.

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Speaker 2: The equity markets, if you go back to the early

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Speaker 2: nineteen hundreds, tend to go up about ten nine and

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Speaker 2: a half ten percent a year, you know, balance portfolio

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Speaker 2: six percent. It compounds, right, So it's hard not to

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Speaker 2: be bullish over at the long term. And what we're

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Speaker 2: seeing with our women is they are indeed investing often

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Speaker 2: for impact, and we should talk about that because of

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Speaker 2: course there's a blowback for impact. But the great thing

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Speaker 2: about these women is they also stay the course. You know,

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Speaker 2: we've seen the research and we now see are seeing

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Speaker 2: it proven at Elvest that they don't freak out when

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Speaker 2: markets are tough. They really stay the course and as

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Speaker 2: a result, you know, perform men when they invest. And

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Speaker 2: that's true at the professional level, as well as at

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Speaker 2: the individual level.

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Speaker 3: Just dealing with the next sort of year before we

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Speaker 3: get to the long term view and some of what

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Speaker 3: you're talking about. As someone who has been very powerful

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Speaker 3: in a number of banks, I'm wondering how concerned you

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Speaker 3: are just about credit creation at this point, the fact that, yes,

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Speaker 3: rates are going to come down, but there's a real question,

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Speaker 3: especially with certain constraints on bank balance sheets, commercial real estate,

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Speaker 3: how much some of these firms can keep blending. Does

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Speaker 3: that sort of keep you up at night at all?

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Speaker 2: You know what I have been worried about, is, you know,

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Speaker 2: with Silicon Valley Bank, our Lehmen or our bear Stearns, right,

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Speaker 2: was it you know, the shoe the drop that ah?

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Speaker 2: You know, the impact of rising interest rates on these

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Speaker 2: banks and particularly the regional banks you know has been

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Speaker 2: felt and we can heal and move on. Or is

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Speaker 2: that the beginning of sort of a longer term issue.

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Speaker 2: And I think the jury is still owed on that

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Speaker 2: though certainly every day that passes and something doesn't happen

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Speaker 2: is a bullish signal.

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Speaker 3: As somebody that has understood just the long and variable lags,

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Speaker 3: certainly through credit creation, what are you watching to understand

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Speaker 3: whether there is something more pernicious under the hood, just

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Speaker 3: with respect to withdrawing some of the capital.

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Speaker 2: Yeah, we're not. I mean again, at el of US,

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Speaker 2: we invest for the longer term, not for these shifts

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Speaker 2: and tactical changes. So we look at what do we

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Speaker 2: view the longer term returns of the stock and bond

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Speaker 2: markets as being as opposed to you know, what's going

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Speaker 2: to happen this day or that day or even over

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Speaker 2: the next year.

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Speaker 3: When you look at long term, what sectors are you

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Speaker 3: most excited about?

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Speaker 1: All of them? All of them? I think about it.

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Speaker 2: You know, when you're investing in the markets, you're investing

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Speaker 2: in the US economy, in the global economy, and what

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Speaker 2: these economies have shown is over reasonable periods of time,

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Speaker 2: they tend towards growth, right, and so you know, we

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Speaker 2: have a diversified portfolio that has access to each to

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Speaker 2: all of them. Again, what we're seeing that may be

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Speaker 2: different from more typical investing firm is our women tend

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Speaker 2: to be looking for impact. They tend to understand that

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Speaker 2: we are all impact investors at every dollar we invest

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Speaker 2: or every dollar we spend it. By the way, women

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Speaker 2: are responsible for eighty to eighty five percent of consumer spending.

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Speaker 2: So if we're going to talk about are we going

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Speaker 2: into a recession, it's going to be the women who

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Speaker 2: put us into a recession who keep us out. But

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Speaker 2: what they recognize is their dollar has meaning and their

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Speaker 2: dollar has impact, and they're looking not to give up

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Speaker 2: a financial return at all, but they are looking for

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Speaker 2: what is my impact in addition to my financial return.

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Speaker 3: So when you say impact, what do you define impact as?

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Speaker 2: Oh? So many ways we can go at this, right,

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Speaker 2: whether it's ESG impact investing, whether it's gender lens investing.

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Speaker 2: You know, what is the dollar not being invested in

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Speaker 2: and what is it being invested in? Right? Is it

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Speaker 2: being invested for environmental reasons, whether that's you know, I

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Speaker 2: want to be out of companies that are going to

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Speaker 2: suffer from global warming, or I want to be in

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Speaker 2: companies that are actually having a positive role in fighting

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Speaker 2: global warming. But it can also be gender lens. Right,

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Speaker 2: is you know, my investing in diverse leadership teams? Are

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Speaker 2: women tend to care about that quite a bit?

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Speaker 3: You know, we're heading into what some people would say

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Speaker 3: the political silly season. We're going towards the election and

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Speaker 3: a lot of some of the impact investing has been

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Speaker 3: highly politicized. How are you feeling, how is that playing

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Speaker 3: out in terms of what talents has impact and sort

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Speaker 3: of how you just find some of these.

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Speaker 2: Well, you see in New Hampshire there are folks there

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Speaker 2: who are trying to make impact investing or ESG investing

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Speaker 2: illegal and not a little bit illegal, felony illegal, go

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Speaker 2: to jail illegal, which, hello, I'm not supposed to as

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Speaker 2: an investor take governance into account when I'm making an investment.

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Speaker 2: I'm not supposed to take diversity of the leadership team

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Speaker 2: into account.

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Speaker 1: By the way, when.

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Speaker 2: The research is shown that diversity in the leadership team

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Speaker 2: can drive your performance that there are very few things

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Speaker 2: that you can say, oh, this correlates to a great

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Speaker 2: leadership team for a company, but diversity is one of them,

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Speaker 2: and I'm not supposed to take that into account. So

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Speaker 2: we are indeed heading into sort of a funky moment.

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Speaker 2: But let me tell you, as money goes more and

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Speaker 2: more to women, because we should talk about the great

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Speaker 2: wealth transfer which is beginning to happen, and women want

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Speaker 2: to invest more for impact, that can be a fundamental

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Speaker 2: shift and a fundamental change.

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Speaker 3: Have you felt more dissent within the ranks, sort of

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Speaker 3: along political lines.

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Speaker 2: No, we have not. We hear it from others. Oh

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Speaker 2: my gosh, you know, my, you know. Over here at

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Speaker 2: XYZ Investing Company, we're getting some backlash against DSG for

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Speaker 2: us where you know, the majority of our clients are women.

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Speaker 2: We are not hearing backlash. We're hearing I want I

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Speaker 2: don't want to give up a financial return, but I

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Speaker 2: also don't want to give up an impact return Sali.

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Speaker 1: It's great to have you with us. Thank you, sunny

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Speaker 1: crowcheck Anavis