Joel Shulman of EntrepreneurShares - The High Growth Potential of Entrepreneurial Investing

Episode • Dec 10, 2024 • 1h 7m

Today, Rusty and Robyn are joined by Joel Shulman and Eva Ados of EntrepreneurShares. Dr. Joel Shulman is the Founder/Managing Director/CIO of ERShares. His 25+ years of research at Babson College (#1 in Entrepreneurship) and best business book written while at Harvard, led to the formation of a proprietary investment model and the Entrepreneur Factor. The formation of his money management practice followed the sale of the Shulman Review, a CFA test-prep company that trained over 12,000+ investment professionals in 110+ countries around the world. Dr Shulman appears frequently in the media including, Fox Business, CNBC, Bloomberg, Yahoo Finance, WSJ, Barrons, Forbes among others. He has been a consultant to many leading organizations as well as The World Bank in which he helped facilitate capital market development in Central Asian states. He has a Ph.D. and CFA designations along with an MPA from the Kennedy School of Government at Harvard University.

Key Takeaways

[03:26] - What has Joel loved about his career and how has he been able to accomplish so many things?
[04:50] - How did EntrepreneurShares come about and what do they stand for as a firm?
[09:09] - What originally inspired Joel to start ERShares?
[12:31] - What is the entrepreneur factor and how has it changed over the years?
[18:09] - Learn more about their XOVR ETF and what makes it unique.
[19:56] - How much can XOVR invest in private equities and how does it work?
[23:30] - More on Joel’s time at Babson College and how it affected his transition into asset management.
[28:52] - What strategies does Joel employ to manage risk associated with investing in these high-growth, entrepreneurial companies during volatile market conditions?
[32:12] - How do emerging technologies, like Artificial Intelligence and Blockchain, influence some of their investment strategies?
[34:25] - What are the primary differences between investing in US-based entrepreneurial companies vs. those in international markets? Does their entrepreneur factor work as well abroad, or does it need the entrepreneurial infrastructure provided here in the United States?
[37:23] - How is Joel seeing their fund being used in portfolios?
[39:33] - What does Joel think goes into being a good professor? Also, does he miss teaching?
[44:15] - As a professor, what methods did he find to be most effective at encouraging students to break down complex financial theories? Also, how can financial advisors use these techniques to better serve their clients?
[47:35] - What advice would Joel give to students or aspiring finance professionals in today’s competitive landscape?
[50:12] - What qualities does Joel see in students today that makes him optimistic about the future of the industry?
[53:05] - What is currently Joel’s favorite investment idea?

Quotes

[16:28] - “Entrepreneurs [are often present] for 10, 20, 30 years. They’re not leaving very quickly, so their longevity is 5x, 6x [or] 7x what the normal CEO would be…As a result, they have a long-term orientation and…it’s that mindset that really makes the difference, because the way they build the organization and the way they manage it is much different than someone who [will be] there for 3 to 4 years. ” ~ Joel Shulman

[44:15] - “One of the things that makes people great in any industry, in any capacity, is curiosity...The most successful people in our investment profession, these are curious people. People who look at something and they…say ‘how did that happen, how did that come to be?’” ~ Joel Shulman

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Disclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.

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