David Young is the Founder and Chief Executive Officer of Anfield Capital Management, LLC. With over 30 years of investment experience, David has worked with many of the largest and most sophisticated institutional and private investors in investment strategy, portfolio management, and asset allocation.

 

Episode Highlights Here:

 

David

Not taking anything away from the CPA profession, and I would say certainly could be set of investment managers, you know that there are some who they kind of know what they know, and they stick to the meat, potatoes, they do a good job, but aren’t necessarily as adventurous, or as up on, you know, the newest.

 

Brett

We’re gonna talk about proper expectations with the deferred sales trust. In fact, David’s chapter is actually on overcoming false beliefs of the deferred sales trust. And we actually did a couple of series on that on YouTube. And his chapter goes into that in detail, which is really great. So, in fact, I want to read one quote, and then we’re going to talk about proper expectations, as it pertains to, you know, times like this and what we’re seeing in the marketplace. But David, it’s the same question we get over and over and over again, it seems like I would have already known about this, if this is so good, and so flexible, and all the things that it is advertised to be, why would my CPA know about it, and you had a great response. And it’s in the book. And, you know, it goes along the lines of, you know, most most people want, it’s a two edged sword, a great business idea, intellectual property with a patent and so on, have certain legal and other protections. So no one can take the really good idea and duplicate it, which is important, but perhaps more important, they can’t take the good idea and mess it up. So in a strange way, when you are protecting anything, and also places some limitations on the broad use, and or not everyone can concede or access it and can’t expect it to be Google or even just watch a YouTube video and just figure it all out. And just Oh, yeah, just all click. So would you touch on the fact of that, or expand on that? And then we’ll move into proper uses of a DST after that?

 

David

Mm hmm. Yeah, I mean, what would I add to that to come up with a lot of you know, a lot of analogies or other vehicles to help drive that home? i My sense is people understand that at a conceptual level, but I think, too, you know, I’m not taking anything away from the CPA profession. And I certainly could set up investment managers, you know, that there are some who, that kind of know what they know, and they stick to the meat, potatoes, they do a good job, but aren’t necessarily as adventurous. Or as up on, you know, the newest techniques for, you know, accounting treatments and tax related, you know, things. Same can be said of my business. I’m not not casting aspersions there. But um, the, yeah, that’s just a simple way of saying that, you know, it could be if your financial situation is getting increasingly complicated, there are properties to be disposed of, there are other assets that need protections and different treatments in this year, and maybe you’re in a period in your life, when you’re in things are in flux, right? Going into that, for a number of reasons, good kinds of blacks, you might stop and ask yourself, which is a healthy thing to do till you are my advisor, you know, the right team of advisors to take me forward. And it’s entirely possible that, you know, maybe you need to, you know, have conversations with, you know, someone that within has maybe maybe real estate or other asset protection, tax expertise doesn’t have to replace your current CPA, you know, sometimes the way to get there is to expand the team when there’s a specific need at a time, right, back with us now, right there on the camera. So I think that’s, it’s fair to say without it being a negative thing, and yeah, there is an element of the need to protect certain intellectual property, certain licensing. You know, there’s, there’s all manner of situations where, you know, people have to pull up short of giving you the secret recipe, you know, and they’re, they have a secret sauce, and then that doesn’t mean it’s bad. But that also doesn’t mean that it’s a type of thing that’s easily picked up in the modern world, and tweeted and goes viral, and you can tell how much I mean, all that right. It just gets magnified. It’s not right for everybody. Not every CPA is aware or even wants to be aware because it kind of changes their whole practice potentially. And, and so, but it is actually exciting. It’s like anything I’ve had occasion to do some research on a number of areas, recently, and I discovered that if I’m, if I’m asking the right questions and using the right words, that what I thought was just kind of a sliver of a set of opportunities, it’s huge. I just didn’t know about it, because until you start looking, and the nature of the thing is that it keeps expanding. It’s a bigger phenomenon and a bigger factor, another bigger factor in the marketplace, then you might know and you’ve CPA might now but it isn’t very hard to start that first. And maybe it starts with the request, Hey, would you mind looking into this for me, they’re gonna find very quickly how broadly and how mainstream broadly used and how mainstream these this transaction type and these trusts are. And so maybe they’re just a little bit of a lightning bolt until you have a knee you may not know you have a knee but until you ask, the need probably isn’t going to present itself in its fullest capacity. And so it I would encourage everyone just to pick that extra step look into it.

 

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About David Young

David Anfield

David Young is the Founder and Chief Executive Officer of Anfield Capital Management, LLC. With over 35 years of investment experience, David has worked with many of the largest and most sophisticated institutional and private investors in investment strategy, portfolio management and asset allocation.  At the end of 2008, he retired as Executive Vice President with Pacific Investment Management Company to rejoin the U.C. Irvine Merage School of Business as Adjunct Professor of Finance, and created Anfield Capital Management, LLC.  From 1999 to 2006, David was head of PIMCO’s account management group in London where he built a team of 25 investment professionals managing over 200 client accounts  and approximately $50 billion in assets across the UK, Europe, the Middle East and Africa. 

 

David holds the Chartered Financial Analyst Designation, an MBA with a concentration in finance from the Paul Merage School of Business at the University of California, Irvine, and degrees in Economics and Political Science from the University of California, Irvine. He has taught finance and investments courses at the Paul Merage School, the Financial Times Knowledge programs (UK), and CFA exam preparation courses sponsored by the CFA society of Orange County, the USC / Los Angeles CFA Society, and U.K. CFA societies.  Mr. Young sits on several non-profit Investment Committees and Boards of Directors including The County of Orange (California) Healthcare System “CalOptima.” 

 

 

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