#253 - Carl Chang, Kairos Investment Management - Once We Qualify We Can Mitigate Our Downside Scenario, Our Next Level Of Return Is Durable Cash Flow
In episode 253 we welcome our guest, Carl Chang, founder and CEO of Kairos Investment Management. In today’s episode, we’re talking real estate. It’s not every day I get a chance to talk with a pizza entrepreneur, successful real-estate investment management firm CEO, or Federal Reserve Bank of San Francisco Board Member. Carl is all three.
We get into Carl’s backstory and kicking off his career in the real estate business as a steward of family money. We discuss his firm’s investment criteria, looking at the fundamental core value of bricks and mortar, and evaluating opportunities by understanding whether or not they think they can make money in downside scenarios and earn durable cash flow. Carl reminds us that real estate is not all about yield, and walks us through what he was seeing in the early 2000s that made him a net seller during that period.
We talk about what the real estate landscape looks like going forward, from opportunities on the debt side of real estate to multifamily housing. As we wind down, we discuss Carl’s role as a board member of the Federal Reserve Bank of San Francisco and what it’s been like to launch an innovative spin on pizza with Pieology.
All this and more in episode 253 with Kairos’ Carl Chang.
More episodes from The Meb Faber Show
Jeff Currie, Goldman Sachs - Why ESG May Make This Commodity Supercycle Different From Past Cycles | #445
Today’s guest is Jeff Currie, Goldman Sachs’ global head of Commodities Research.
In today’s episode, Jeff shares why he called for a commodity …
Steve Romick, FPA Funds – Live at Future Proof! | #444
Today we have a special episode for you today from last weeks’ Future Proof Festival. I recorded live with Steve Romick, portfolio manager for the …
Ben Inker, GMO – Dispelling Myths in The Value vs. Growth Debate (The Best Investment Writing Volume 6)
Today’s episode features Ben Inker reading his piece, Dispelling Myths in The Value vs. Growth Debate. Ben is co-head of GMO’s Asset Allocation team and a member of the GMO Board of …
Kyle Bass on The Market, Energy Crisis & His New Big Bet For The Next Decade | #443
Today’s guest is Kyle Bass, Founder and Chief Investment Officer of Hayman Capital Management, an investment manager of private funds focused on global event-driven opportunities.
In …
David Rubenstein on Private Equity, Politics, Parenting, & The Art of Investing | #442
Today’s guest is David Rubenstein, co-founder and co-Chairman of The Carlyle Group, one of the largest private equity firms in the world, now managing $325 billion.
In today’s episode, …
Whitney Baker, Totem Macro – Put Down (The Best Investment Writing Volume 6)
Today’s episode features Whitney Baker reading her piece, Put Down. Whitney is the founder of Totem Macro, which leverages extensive prior buyside experience to create unique research …
How you can listen to this podcast
You can listen to episodes right here on the website, or if you prefer, in a podcast app. Listening in an app makes it easier to keep track of what you’ve already heard, listen without using your data plan and many other conveniences.