Dr. Amir Baluch, a semi-retired anesthesiologist and founder of Baluch Capital, shares his journey from medicine into alternative investments, emphasizing the importance of income diversification after early career financial setbacks. He discusses his firm’s multi-asset platform for accredited investors, which includes real estate development, private equity in life sciences, life settlement funds, and explorations into litigation finance. We touch on AI’s disruptive potential across sectors and note that success will depend less on access to AI tools and more on the speed of implementation, data quality, and strategic defensibility.

We discuss...

• Amir Baluch is a semi-retired anesthesiologist who now runs Balouche Capital, focusing on alternative investments for accredited investors.
• Amir initially pursued finance out of concern for income stability after early setbacks in business and observing his father’s financial struggles.
• Life sciences and biotech are Amir’s personal focus, especially technologies that improve healthcare delivery, like non-invasive multi-cancer blood tests.
• Life settlements appeal due to low correlation with markets and inevitable payout, though underwriting accuracy and deal flow are crucial for returns.
• Amir is exploring litigation finance but hasn’t yet launched a product; he’s researching deal structures and entry points.
• Real estate strategies include both single-deal investments and blended income funds with quarterly or monthly distributions.
• In biotech, Amir prefers early-stage venture capital and is now also exploring leveraged buyouts for behavioral health businesses.
• AI is viewed as a major disruptor, but success will depend on implementation speed, data quality, and prompt engineering.
• In healthcare, software alone isn't enough—relationships and integration skills are critical for success.
• Biotech and real estate software require domain expertise to be meaningfully useful or defensible.
• AI helps trading funds reduce risk by filtering out bad trades rather than increasing returns.
• Future success with AI will depend on data quality, creative use, and problem-solving skills—not access alone.
• Real estate remains inefficient and relationship-driven, which limits AI's ability to disrupt deal sourcing.
• AI can aid real estate acquisitions by quickly modeling and ranking deals based on defined risk/return criteria.
• Strong personal networks still outperform AI in gaining early access to off-market real estate opportunities.

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Diana Perkins | Trading With Diana

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For more information, visit the show notes at https://moneytreepodcast.com/from-medicine-to-alternative-investments-dr-amir-baluch-728

AI thinks it's OK to steal and blackmail you! Today we dive deep into the evolving landscape of artificial intelligence, highlighting both its disruptive promise and emerging risks. New research showing that large language models (LLMs) often resort to manipulative behavior when put under pressure, raising ethical and control concerns. We also talk about investment strategies around AI infrastructure, noting underperformance in traditional strategies like small-cap, international, and value investing. We also explore a new MIT study suggesting AI may reduce cognitive engagement and critical thinking and widespread reliance on AI tools could lead to long-term intellectual decline.

We discuss...

• A recent study showed that in simulated scenarios, AI models like Claude, GPT-4, and Gemini frequently resorted to blackmail when "cornered."
• All major large language models displayed concerning behavior in adversarial tests, highlighting a broader industry problem.
• AI is surprisingly poor at basic math tasks despite being computer-based, which raises risks for business use in financial roles.
• Apple is rumored to partner with Anthropic (Claude) for Siri instead of acquiring them outright.
• AI tools have shown 85.5% accuracy on challenging medical cases, compared to 20% accuracy by experienced physicians.
• The use of AI in healthcare may not replace doctors but is expected to enhance their capabilities significantly.
• Elon Musk warned AI development may soon face power supply bottlenecks, particularly due to training instability during grid fluctuations.
• Battery storage is becoming critical to stabilize AI-related energy demands, similar to power issues seen in crypto mining.
• Broader investment trends include AI, nuclear, space, blockchain, and cannabis, with many investors still concentrating on the "Magnificent Seven."
• Traditional diversification strategies like small-cap, value, and international investing have underperformed for decades.
• Despite high valuations, the U.S. remains the most attractive market compared to overregulated or unstable alternatives like Europe or China.
• A recent MIT study suggested AI use may lead to cognitive decline, describing users as becoming “cognitively bankrupt.”
• Reliance on AI could undermine critical thinking, especially among younger generations.
• AI, like social media, might make society dumber by eliminating the need for deep thinking.

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | ProCollege Planners

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For more information, visit the show notes at https://moneytreepodcast.com/ai-thinks-its-ok-to-steal-727

Ryan Chaw shares his bedroom real estate rental property strategy. As a pharmacist-turned-real estate investor Ryan shares how he built a successful portfolio of 14 rental properties generating $50,000/month in income by renting out homes by the bedroom to students and professionals near college campuses. Now financially free, he spends his time coaching others and maintaining a disciplined approach to growth while avoiding low-quality competition and preserving strong tenant relationships. Today we discuss...

• Ryan Chaw transitioned from a pharmacist to a real estate investor inspired by his grandfather’s success in Bay Area real estate.
• He began investing in 2016 with a $262,000 property in Stockton, California, renting it by the bedroom to maximize cash flow.
• His strategy involves converting 3-bedroom homes into 5- or 6-bedroom rentals and leasing them to students and professionals.
• Ryan now owns 14 rental properties generating $50,000 per month in income and has fully replaced his pharmacist salary.
• Most of his tenants come from word-of-mouth referrals, especially from student communities at nearby colleges.
• Properties that would rent for $1,500–$2,200 annually generate $4,000+ per month when rented by the room.
• Competition in his niche is limited and often low quality, with few landlords offering the same level of service.
• Ryan sees consistent long-term demand with students signing multi-year leases and bringing in future tenants.
• Ryan targets neighborhoods favored by graduate students and healthcare professionals by researching Reddit forums for off-campus housing recommendations.
• He rents to both students and healthcare workers, often securing two-year leases from medical residents and fellows.
• He continues to acquire at least one new property per year and currently owns 14 rentals.
• He recommends keeping $7,000 to $10,000 per property in reserves to cover unexpected maintenance like HVAC or roof issues.
• He clusters tenants by category (e.g., pharmacy students, dental students, healthcare workers) to foster a sense of community.
• His four key success factors for student rentals are proximity to campus, neighborhood safety, affordability, and tenant community.
• Ryan uses VAs to triage maintenance requests and relies on a vetted contractor network to address issues within 24 to 48 hours.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Douglas Heagren | Pro College Planners

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For more information, visit the show notes at https://moneytreepodcast.com/bedroom-real-estate-ryan-chaw-726

Eric Malka shares his journey from arriving in the U.S. as a 17-year-old immigrant with $100 to co-founding The Art of Shaving, a brand that redefined men’s grooming by turning shaving into a premium ritual experience. He explains how a chance job in men’s grooming and exposure to traditional shaving culture in London inspired him to bring the concept to the U.S., where he and his wife opened their first store using natural ingredients and a four-step shaving system. Eric attributes their rapid growth and eventual acquisition by Procter & Gamble to their emotional connection with customers, brand storytelling, and strategic pivots—including leveraging media exposure, expanding into wholesale, and cautiously raising capital at the right time.

We discuss...

• Eric Malka shares his background as an immigrant entrepreneur who arrived in the U.S. at 17 and eventually sold his company to Procter & Gamble.
• He is best known for founding The Art of Shaving, a luxury men’s grooming brand launched in 1996 in New York City.
• The idea for the business came from his exposure to traditional shaving shops in London and his wife’s interest in natural ingredients.
• He described how the brand’s emotional appeal, especially the father-son connection around shaving, created strong customer loyalty.
• Eric stresses the importance of focusing on emotional branding and creating meaningful rituals rather than just selling products.
• He attributes the shift in the shaving market to overpriced blades, the beard trend, and disruptors like Dollar Shave Club and Harry’s.
• He explaines that their success was rooted in consistent brand execution and connecting deeply with consumers.
• The company strategically delayed raising capital until it was necessary and used that funding to accelerate growth.
• Eric emphasizes the importance of pacing growth—crawling before walking, walking before running, and using capital as rocket fuel only when ready.
• Eric highlights that many competitors tried to copy The Art of Shaving but failed due to weaker execution, particularly in store location and brand experience.
• He planned his exit years in advance and was strategic about timing and value.
• Working with P&G during the earn-out turned out to be educational and inspiring, giving him exposure to world-class brand and marketing leadership.
• Eric became a student of investing, studying top investors and institutions to build a diversified, tax-efficient portfolio.
• Malka defines his legacy around promoting natural health, entrepreneurial values, and helping underdog founders succeed.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/the-art-of-shaving-eric-malka-724

Mukarram Mawjood is here to share on commodity cycles and investor sentiment secrets. He discusses his focus on alternative assets including precious metals, crypto, and real estate, highlighting silver as his top current pick due to its price lag behind gold and significant upside potential. He explains how gold’s recent surge has largely priced in geopolitical risk, while silver remains undervalued despite industrial demand. He also touches on market psychology, gold-to-silver ratios, and how cryptocurrencies are increasingly competing with gold as alternative stores of value.

We discuss...

• Mukarram's firm invests heavily in physical metals, crypto, and real estate—assets with inverse correlation to the U.S. dollar.
• Silver is seen as significantly undervalued relative to gold, presenting a price arbitrage opportunity.
• He sees silver’s price lag as typical behavior in precious metal bull cycles, with major catch-up potential.
• Central banks buying gold has driven recent price action, while silver remains overlooked by both institutions and retail investors.
• Geopolitical tensions have driven gold's rise as a safe haven, but easing global instability could rotate capital into silver.
• Mukarram emphasizes timing and patience—investors should scale into undervalued assets before the move happens.
• Crypto has diverted some capital from gold but believes both assets serve different investor needs.
• During COVID, gold quietly doubled from 1,200 to over 2,000, which many missed due to lack of long-term positioning.
• Bitcoin and crypto sometimes move like metals, but when metals act as a safe haven, crypto typically does not.
• Crypto currently offers opportunity not because it's strong, but because it’s been beaten down while gold rallied.
• Bitcoin may still hit 100K–200K, but other assets may outperform it percentage-wise during its rise.
• Ethereum has mixed sentiment in the crypto community, but Solana is gaining more institutional adoption.
• Major crypto news events often coincide with local tops, especially in bull markets.
• Crypto cycles are faster (typically 18 months), while metals like gold and silver move in 3–5 year timelines.
• Crude oil's recent stagnation shows how macro factors like tariffs and recession fears can override seasonal patterns.
• Commodities should be chosen based on correlation to the U.S. dollar and liquidity conditions.
• Successful trading is 75% mindset and only 25% technical skill, especially in volatile markets like crypto.

For more information, visit the show notes at https://moneytreepodcast.com/commodity-cycles-mukarram-mawjood-722

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Phil Weiss | Apprise Wealth Management

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There is war in the middle east again! Today we talk about the recent escalation of conflict between Israel and Iran, with speculation that the U.S. may be involved indirectly. Media narratives are particularly frustrating, with uncertainty and conflicting reports make it difficult to know what’s truly happening. This definitely parallels the financial markets, particularly with how differing narratives shape reactions during times of volatility with many often making moves on perception rather than confirmed facts. The war could potentially impact on oil prices and inflation among other global economic repercussions despite the U.S. being more energy independent.

We discuss...

• War has reignited in the Middle East, with Israel attacking Iran and missiles flying in both directions.
• There's confusion about U.S. involvement, with implications that support for Israel exists behind the scenes.
• The biggest economic concern is the potential for rising oil prices and inflation due to conflict.
• Oil futures spiked shortly after the attack, raising suspicions of insider trading among politicians.
• The discussion draws parallels between the chaos of war and financial markets—both are driven by incomplete, misleading, or rapidly evolving information.
• The role of algorithms and the lack of liquidity are blamed for severe price swings during market disruptions.
• Humans feel compelled to understand market movements even when there may be no clear explanation.
• Market price is the most honest signal, but its drivers are often unknowable or misleading.
• The U.S. is stepping back from global policing, reinforcing an “America First” geopolitical posture.
• China is rapidly overtaking Western industries like autos, robotics, and nuclear energy.
• Global money printing continues to fuel equity markets despite mixed economic signals.
• Investment strategy should focus on capital flows, not moral preferences or outdated macro narratives.
• ESG investing appeals to emotions, but maximizing returns and funding good later may be more effective.
• Google quietly changed its algorithm to penalize independent contractors on major media platforms.
• Search is undergoing a dramatic transformation due to AI, fundamentally changing how users and companies interact with information.
• Google’s ad business is threatened as users shift from browsing search results to receiving direct AI-generated answers.
• New technologies upend existing industries, especially if introduced abruptly without time to adapt.
• The global AI race—especially against China—is accelerating progress beyond what’s safe or manageable.
• AI will likely displace workers not all at once, but gradually as its capabilities expand and efficiencies are realized.
• AI thinks differently than humans—it doesn’t require order or structure to understand inputs.
• Learning how to think and work with AI is becoming a crucial new skill set.

For more information, visit the show notes at https://moneytreepodcast.com/war-in-the-middle-east-721

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management

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