Conference Call Recording – February 2024

Albion Financial Group – February 2024 Conference Call Video Recording

In our most recent conference call our panelists delved into the economic context of early 2024, touching upon various topics such as tax deadlines, interest rates, Artificial Intelligence, recession forecast, inflation and pricing trends, monetary policy, portfolio asset allocation, Secure 2.0 legislation, estate planning, and more!

Stream the audio of yesterday’s conference call at this link.


Elon Musk Biographer Speaks with Doug Wells About Latest Book

Elon Musk’s biographer Ashlee Vance was interviewed this week by Albion Partner Doug Wells on his KPCW radio program Mountain Money on the subject of Vance’s new book “When the Heavens Went on Sale”

Doug Wells interviews Ashlee Vance on KPCW’s ‘Mountain Money’

Ashlee Vance is an American business columnist and author, best known for his biography of Elon Musk, titled “Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future” which was released in 2015.

The biography traces Musk’s journey from his difficult upbringing in South Africa to his ascent to the pinnacle of the global business world. The book provides an outline of the experiences that have made Musk the man he is today, and how he has always dreamed big.

Vance’s new book called “When the Heavens Went on Sale: The Misfits and Geniuses Racing to Put Space Within Reach” tells the remarkable, unfolding story of a frenzied low Earth orbit “land grab.”

Through his trademark immersive reporting, Vance follows four pioneering companies—Astra, Firefly, Planet Labs, and Rocket Lab—as they build new space systems and attempt to launch rockets and satellites into orbit by the thousands.

While the public fixated on the space tourism being driven by Elon Musk, Jeff Bezos, and Richard Branson, these new companies arrived with a different set of goals: to make rocket and satellite launches fast and cheap, thereby opening Earth’s lower orbit for business—and setting it up as the next playing field for humankind’s technological evolution.


Repost: November 2022 Conference Call

Conference Call Panelists: John Bird, Jason Ware, Liz Bernhard, and Michael Kessler

REGISTER NOW for our first conference call of 2023 scheduled for May 16, 2023 at 9AM.

November 2023 Conference Call from Albion Financial Group

Conference Call Recording – November 15, 2022

Conference Call Panelists – John Bird, Jason Ware, Liz Bernhard, and Michael Kessler

Click on the link below to watch the video and transcript of Albion’s November 15, 2022 Conference Call.

Or listen to the isolated audio from the call below:


Does Fortune Favor the Brave?

By Doug Wells

Partner, Albion Financial Group

June 21, 2022

‘Fortune favors the brave’.  Matt Damon re-acquainted America with this phrase several months ago in an ad he narrated for a crypto website.  When bitcoin and other cryptocurrencies were posting all time highs.  [see video at]

When the market is going up each day, it is fun to watch your accounts and see how smart you are.  Your spouse might even look over your shoulder and comment in awe over how quickly your weekly balances are going up.  “Good job, honey”.

Matt got it right that fortune favors the brave. He missed the mark however on what it means to be brave. [Hint:  It is NOT simply piling in along with the crowd].

The Federal Reserve met last week.  They, like all of us, are concerned that inflation is too high.  And getting worse.  In fact, just days before their meeting, new data came out that caused them to go off script and raise rates by 75 basis points instead of 50 (100 basis points – “bips”- make up 1 percentage point).

In response, the market (S&P500) fell by 10%.  In a single week.  Year to date, it is down almost 25%. 

NOW is the time that fortune favors the brave.

There are three types of bravery at times like this.  

The first, and most important, is the  courage to stay the course with a well thought out long term asset allocation designed to meet your long term goals.  

If you work with a fee-only investment adviser, you and they likely came up with an investment allocation many years ago; an allocation designed to keep you on course during scary periods like these.

The second is the willingness to actually increase your asset allocation to equities even though they are already down significantly year to date.  And – very possibly – will fall even further. 

Buying a small amount of equities might help you mentally weather the storm (“at least I was able to buy one of my favorite companies at a lower price”).  Maintaining your mental strength is important.

Buying more than a token amount of the stock of your favorite companies is a very different decision.  Perhaps, in the past, you have felt under-invested in your long term equity allocation.  

If so, now might not be a bad time to true it up..  Certainly better than doing it eight months ago when the markets were at all time highs.  If this resonates with you, talk to your fee-only investment adviser.  Or Albion.  We are always accepting new clients with at least $1 million to invest and would be happy to chat with you.

The final type of bravery is the Matt Damon type of bravery.  Buying speculative assets (cyber currency, tulips or going “all in” a gambling spree to Vegas) that are down 60% or more year to date. 

Should you do this?  To paraphrase Matt … 

As these mere mortals – just like you and me –  peer over the edge, they calm their minds, steel their nerves with 24 simple words that have been whispered by financial advisers since the time of the Romans … “wealth is occasionally created by brave bold moves.  But it is best kept by patience, discretion, diversification and a well thought out financial plan”.

  • Albion Financial Group.  
  • Helping clients make a lifetime of great decisions for over 40 years