Beyond the Stock Market, a Groundfloor Production

Groundfloor
  • 5.0 (2)
  • Investing

Welcome to Beyond the Stock Market, a Groundfloor Production exploring the future of investing. Each episode goes beyond the headlines to unpack emerging trends, shifting investor behaviors, and the evolving relationship between traditional finance and new opportunities. Hosted by Groundfloor co-founder and CEO Brian Dally and joined by investors, entrepreneurs, and thought leaders, the show offers candid conversations into the rapidly evolving investment landscape. With a focus on access and education, Beyond the Stock Market equips seasoned and new investors with the knowledge they need to participate in tomorrow’s markets today.

  1. 2d ago

    Ep 09 Part 2: The Author of “Invest Like a Billionaire” Shares His Top Three Tips

    Host Brian Dally continues his conversation with with Bob Fraser, CFO and chief macro strategist of Aspen Funds. In this episode, Fraser shares what everyday investors can learn from billionaires about building and protecting wealth through alternatives and private credit. He emphasizes treating investing like a business (including setting up a hub LLC), creating a disciplined allocation plan with uncorrelated “buckets,” and focusing far more on risk than return to avoid losses. He explains how structure through allocation limits and periodic rebalancing can help investors sell outperformers and redeploy into under-allocated areas. Fraser stresses operator selection as critical in private investing, and predicts growing retail access to alternatives. In rapid fire, he highlights compounding, sentiment, and the risks of chasing AI-driven public markets. 00:00 Welcome Back and Setup 00:22 Think Like a Billionaire 02:06 Risk Discipline and Taxes 04:46 Portfolio Buckets and Rebalancing 06:48 Picking the Right Operator 08:58 Where Alternatives Are Headed 10:49 Alts in 401k and Advisors 13:07 Rapid Fire Investing Q&A 15:39 Final Takeaway and Wrap Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Bob Fraser on LinkedIn: https://www.linkedin.com/in/bobfraser10/ References: Aspen Funds: https://aspenfunds.us/Invest Like a Billionaire by Bob Fraser: https://a.co/0gXT35DyInvest Like a Billionaire podcast: https://investlikeabillionaire.org/David Swensen: https://en.wikipedia.org/wiki/David_F._Swensen The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  2. Sep 3

    Ep 09 Part 1: Aspen Funds’ Bob Fraser on Private Investing, Uncorrelated Portfolios, and Today’s Biggest Opportunities

    Groundfloor CEO Brian Dally hosts Bob Fraser, CFO and chief macro strategist of Aspen Funds, discussing Fraser’s path from computer science and dot-com success to being wiped out in the dot-com crash and again in the 2008 crisis, leading him to focus on private markets he could better control. Fraser explains Aspen’s hedge-fund-like macro approach applied to private investments, a retail investor mission centered on education (including a bestselling book and podcast, “Invest Like a Billionaire”), and disciplined underwriting. He outlines how private alternatives can offer an illiquidity discount, niche strategies, and lower portfolio risk through uncorrelated positions, emphasizing operator selection. Fraser notes using AI to boost deal underwriting productivity and shares current themes: a potential Fed regime shift and a steeper yield curve, plus opportunities in industrial real estate, distressed multifamily, and energy land driven by mispriced narratives. 00:00 Show Intro 00:42 Meet Bob Fraser 01:58 From Dotcom to Debt 04:53 Why Aspen Funds 06:47 Billionaire Playbook 07:37 Private Alpha Explained 09:48 Uncorrelated Portfolios 11:34 AI and Underwriting 13:50 Macro Shift at Fed 15:22 Where Aspen Invests 17:37 Wrap and Part Two Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Bob Fraser on LinkedIn: https://www.linkedin.com/in/bobfraser10/ References: Aspen Funds: https://aspenfunds.us/ Invest Like a Billionaire by Bob Fraser and Ben Fraser: https://a.co/0gXT35DyInvest Like a Billionaire podcast: https://investlikeabillionaire.org/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  3. Aug 20

    Ep 08 Part 2: How Do Music Royalties Stack Up in Today’s Market Cycles?

    Groundfloor CEO Brian Dally continues his conversation with Jillian Murrish, CEO and co-founder of Pier Asset Management, focusing on where specialty finance and music royalties fit in today’s volatile market. Jillian argues music royalties are largely non-correlated to stocks and unemployment, may hold up in downturns as streaming substitutes for other entertainment, and are relatively insulated from interest-rate moves. She also frames music as “AI-proof” because audiences value human artists and live performance. Jillian discusses portfolio construction across genres, songs, and royalty-rights types, Pier’s underwriting workflow, and why regulated banks create ongoing specialty finance opportunities, including institutionalization via securitizations. 00:00 Part Two Setup 00:34 Market Cycle and Noncorrelation 03:15 AI Proof Music Investing 05:17 Streaming Growth Drivers 06:57 Diversification and Royalty Types 10:09 Deal Flow and Underwriting 10:48 Future of Specialty Finance 12:37 Securitization and Scaling 15:49 Rapid Fire Q and A 17:53 Final Takeaways and Wrap Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Jillian Murrish on LinkedIn: https://www.linkedin.com/in/jillian-murrish-b324a52b/ References: Pier Asset Management: https://www.pieram.com/ Beeple: https://www.beeple-crap.com/ Goldman Sachs report: https://www.goldmansachs.com/insights/articles/global-music-revenues-are-forecast-to-double-to-200-million-in-2035 The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  4. Aug 6

    Ep 08 Part 1: Specialty Finance and the Music Royalties Category with Pier Asset Management CEO Jillian Murrish

    Groundfloor CEO Brian Dally hosts Beyond the Stock Market and interviews Jillian Murrish, co-founder and CEO of Pier Asset Management, a niche specialty finance investment firm. Jillian explains Pier’s focus on deal sizes that large institutions often overlook, and explains specialty finance as lending against portfolios of contractual cash flows such as loans, receivables, advances, and royalties. She describes Pier’s evolution from consumer and small business lending into music royalties, where distributor reports provide detailed streaming data. Jillian outlines why rights holders sell royalties, how music revenue typically cycles, and Pier’s emphasis across different types of catalogs. 00:00 Welcome and Guest Intro 01:22 Why Pier Started 03:10 What Is Specialty Finance 04:28 Early Strategy and Sectors 06:09 Underwriting Cash Flows 07:54 Music Royalties Data Edge 10:02 Deal Flow in Music 11:17 Why Sellers Need Liquidity 13:51 Pricing Risk and Decay 17:26 Portfolio Size 19:01 Wrap Up and Part Two Tease Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Jillian Murrish on LinkedIn: https://www.linkedin.com/in/jillian-murrish-b324a52b/ References: Pier Asset Management: https://www.pieram.com/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  5. Jul 23

    Ep 07 Part 2: Late Stage But Fragile: AI’s Impact on the Market and the K-Shaped Economy

    Host Brian Dally continues his conversation with Stacey Schacter of VION Investments about where the U.S. is in the broader market cycle. They discuss the K-shaped economy, Social Security’s projected depletion, and how AI may cause near-term job losses but could ultimately drive retraining, entrepreneurship, and an employment boom if used as a tool. Stacey cautions about overreliance on opaque models and stresses understanding assumptions. He flags sovereign debt and potential weakening of dollar dominance as a major long-term risk. The episode closes with a rapid fire Q&A. 00:00 Welcome Back Part Two 00:27 Late Cycle Fragility 02:45 Distress And Divergence 04:33 K Shaped Economy 05:19 Social Security Squeeze 07:45 AI Horizon And Jobs 11:00 Models Need Assumptions 14:32 Signals To Watch 15:54 Politics Tech And Debt 20:52 Rapid Fire Investing Qs 23:15 Alternate Life Paths 24:42 Wrap Up Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Stacey Schacter on LinkedIn: https://www.linkedin.com/in/staceyjschacter/ References: VION Investments: https://www.vioninv.com/ ​The Beige Book from the Fed: https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm Ray Dalio Principles Around Debt Cycles: https://www.principles.com/big-debt-crises Sliding Doors film: https://www.imdb.com/title/tt0120148/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  6. Jul 9 ·  Video

    Ep 07 Part 1: VION Investments’ Stacey Schacter on Distressed Receivables, Specialty Finance, and Risk Management

    Host Brian Dally interviews Stacey Schacter, founder and CEO of VION Investments, a liquidity provider focused on performing and non-performing consumer and commercial receivables. Stacey recounts moving from tax and securities law into major bankruptcy and liquidation work, becoming CEO of a receivables division, then founding VION 17 years ago with backing from a New York private equity group. He explains VION’s approach across varied transactions,, discusses fraud seen in auto finance, and outlines how VION evaluates opportunities via specialized knowledge, avoiding over-leverage and binary bets, using data-driven stress scenarios, and favoring deals with wider margins for error. 00:00 Welcome and Mission 00:43 Meet Stacey Schacter 02:48 Early Career Pivot 05:36 Founding VION in 2008 07:04 What VION Actually Does 09:38 Fraud Stories in Auto 10:18 Performing vs Nonperforming 12:50 Froth Leverage and Patience 14:20 Private Credit vs Spec Fin 18:49 Managing Distress Risk 21:46 Wrap Up Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Stacey Schacter on LinkedIn: https://www.linkedin.com/in/staceyjschacter/ References: VION Investments: https://www.vioninv.com/ DeLoreon Motor Company: https://delorean.com/ Advanta Bank: https://www.advantabankcorp.com/ SpaceX: https://www.spacex.com/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  7. Jun 25 ·  Video

    Ep 06: The Problems With Private Markets: Host Brian Dally Shares His Perspective

    In this episode of Groundfloor’s “Beyond the Stock Market,” host Brian Dally unpacks the negative headlines about private credit and argues the turmoil reflects structural issues and a liquidity/transparency mismatch. He contrasts the Wall Street aggregator models, where investors are forced to take on “manager of manager” risk, with Groundfloor’s direct, retail-first approach. After describing Groundfloor’s history since 2013, its focus on real estate debt, Brian emphasizes asset-level transparency, short-term loans, and vertical integration in origination, underwriting, and recovery as key differences in managing risk. 00:00 Intro 00:35 Private credit’s negative headlines 01:12 Groundfloor origin story 03:25 What are the issues behind private markets 06:59 Why Groundfloor is different 08:11 Retail investor takeaway Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

  8. Jun 11 ·  Video

    Ep 05 Part 2: Market Trends, AI CapEx Signals, and More About Stock Finance with Serengeti Asset Management

    Groundfloor CEO Brian Dally continues the conversation with Ray Yousefian of Serengeti Asset Management on where the market cycle stands, key signals like interest rates, demand, and hyperscaler CapEx. They discuss volatility across public equities and private credit, including pressure on software values, semiconductor strength, and credit stress from over-levered software firms. Ray contrasts equity’s compounding returns with private credit’s income-oriented cash yield and says both markets remain healthy absent major macro dislocations. They outline the Groundfloor–Serengeti partnership, positioning stock finance as a way to offer downside protection with capped upside relative to direct late-stage equity. 00:00 Welcome Back 00:27 Market Cycle Signals and AI CapEx 02:39 Public Equities vs Private Credit 05:50 Equity Compounding vs Credit Income 07:02 Groundfloor Serengeti Partnership 08:19 Big Cat Fund Return Profile 10:30 What’s Next for Serengeti 12:20 Rapid Fire Investing Q&A 14:57 Closing Beyond the Stock Market podcast: https://groundfloor.com/podcast Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ Connect with Ray Yousefian on LinkedIn: https://www.linkedin.com/in/raymond-yousefian/ References: Serengeti Asset Management: https://serengeti-am.com/ The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

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Ratings & Reviews

5
out of 5
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About

Welcome to Beyond the Stock Market, a Groundfloor Production exploring the future of investing. Each episode goes beyond the headlines to unpack emerging trends, shifting investor behaviors, and the evolving relationship between traditional finance and new opportunities. Hosted by Groundfloor co-founder and CEO Brian Dally and joined by investors, entrepreneurs, and thought leaders, the show offers candid conversations into the rapidly evolving investment landscape. With a focus on access and education, Beyond the Stock Market equips seasoned and new investors with the knowledge they need to participate in tomorrow’s markets today.

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