EPISODE · Mar 21, 2023 · 1H 26M
E19: The Evolution of Investing with Ira Gluskin
from The Unlimited Podcast by Ginsler Wealth · host Ginsler Wealth
On this episode of The Unlimited Podcast, Brian is joined by one of Canada’s “legendary” investors, his friend and mentor, Ira Gluskin. Brian and Ira discuss the founding of Gluskin Sheff, investing and investment management, Ira’s career advice, and the advantages of a multi-family office over a large investment firm. Ira Gluskin is the Chief Investment Officer of Irager + Associates Inc., a family office, overseeing Strategy and Investments. Mr. Gluskin is the Co-Founder of Gluskin Sheff + Associates Inc. He served as the firm’s President & Chief Investment Officer from June 30, 1984 until December 31, 2009 and as a Director and the firm’s Vice-Chairman through December 18, 2013. Prior to co-founding Gluskin Sheff, Mr. Gluskin had worked in the investment industry for 20 years. He serves on the Board of Directors of both Tricon Capital Group and European Residential Real Estate Investment Trust and serves on the board of trustees for First Capital REIT. He is a member of the Advisory Board of Vision Capital Corporation and The University of Toronto’s Real Estate Advisory Committee. He is also on the University of Toronto’s Boundless Campaign Executive Committee, Sinai Health’s Board of Directors and Investment Committee, Board of the Canadian Jewish News, The Walrus Magazine, Capitalize for Kids, and the National Theatre School of Canada. Mr. Gluskin is also the former Chair of the University of Toronto Asset Management Corporation and the former Chair of the Investment Advisory Committee for the Jewish Foundation of Greater Toronto, and is currently a member of its Investment Committee. Mr. Gluskin received a Bachelor of Commerce degree from the University of Toronto in 1964. He received an Honorary Doctorate of Laws degree from Wilfrid Laurier University 2019. Timestamps: 0:00 Disclaimer & Intro 4:06 How did Ira begin his career? 12:43 How did Ira get comfortable after founding Gluskin Sheff? 15:15 Introducing incentive fees to investment management 19:37 Why did Ira want to be different? 31:57 What does Ira think about managers advertising lower fees and higher performance? 38:12 Ira’s approach to investment management 42:40 What has Ira learned after working through decades of ups and downs? 46:40 How has Ira’s portfolio evolved? 53:44 How does Ira feel being an insider of publicly traded companies? 58:17 Ira’s thoughts on increasing investing regulations 1:07:05 What to look for in a great business partner 1:14:07 Life lessons from Ira 1:20:07 If Ira could have done anything, what would it be? 1:24:57 Outro If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.
What this episode covers
On this episode of The Unlimited Podcast, Brian is joined by one of Canada’s “legendary” investors, his friend and mentor, Ira Gluskin. Brian and Ira discuss the founding of Gluskin Sheff, investing and investment management, Ira’s career advice, and the advantages of a multi-family office over a large investment firm. Ira Gluskin is the Chief Investment Officer of Irager + Associates Inc., a family office, overseeing Strategy and Investments. Mr. Gluskin is the Co-Founder of Gluskin Sheff + Associates Inc. He served as the firm’s President & Chief Investment Officer from June 30, 1984 until December 31, 2009 and as a Director and the firm’s Vice-Chairman through December 18, 2013. Prior to co-founding Gluskin Sheff, Mr. Gluskin had worked in the investment industry for 20 years. He serves on the Board of Directors of both Tricon Capital Group and European Residential Real Estate Investment Trust and serves on the board of trustees for First Capital REIT. He is a member of the Advisory Board of Vision Capital Corporation and The University of Toronto’s Real Estate Advisory Committee. He is also on the University of Toronto’s Boundless Campaign Executive Committee, Sinai Health’s Board of Directors and Investment Committee, Board of the Canadian Jewish News, The Walrus Magazine, Capitalize for Kids, and the National Theatre School of Canada. Mr. Gluskin is also the former Chair of the University of Toronto Asset Management Corporation and the former Chair of the Investment Advisory Committee for the Jewish Foundation of Greater Toronto, and is currently a member of its Investment Committee. Mr. Gluskin received a Bachelor of Commerce degree from the University of Toronto in 1964. He received an Honorary Doctorate of Laws degree from Wilfrid Laurier University 2019. Timestamps: 0:00 Disclaimer & Intro 4:06 How did Ira begin his career? 12:43 How did Ira get comfortable after founding Gluskin Sheff? 15:15 Introducing incentive fees to investment management 19:37 Why did Ira want to be different? 31:57 What does Ira think about managers advertising lower fees and higher performance? 38:12 Ira’s approach to investment management 42:40 What has Ira learned after working through decades of ups and downs? 46:40 How has Ira’s portfolio evolved? 53:44 How does Ira feel being an insider of publicly traded companies? 58:17 Ira’s thoughts on increasing investing regulations 1:07:05 What to look for in a great business partner 1:14:07 Life lessons from Ira 1:20:07 If Ira could have done anything, what would it be? 1:24:57 Outro If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.
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E19: The Evolution of Investing with Ira Gluskin
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