Overcoming False Beliefs of the Deferred Sales Trust with David Young

“Sometimes when you're under pressure, you tend to make poor decisions, especially if you have to go into equal or greater value, which is equal or greater debt.”

David Young brings a wealth of knowledge and experience of over 25 years in the investment world as a financial advisor and so much more. He is the founder of Anfield Capital which is actually in Southern California.

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Brett:

I am excited about our next guest. He brings a wealth of knowledge and experience of over 25 years in the investment world as a financial advisor and so much more. He spent 15 years with PIMCO and was close with notable investors such as Bill Gross, Paul McCauley, and Mohamed A. El-Erian. His career at PIMCO spans several assignments, most recently serving as the executive vice president of account management, covering a range of family offices and institutional clients, including Abu Dhabi Investment Authority, Intel, United Auto Workers, three incorporation, and others. Now he is the founder of Anfield Capital which is actually in Southern California. And he's reignited a brand new firm that I think opened up now just in the last year or two. And he says, tell us a little bit more about his vision for the company and how he can help you create and preserve more wealth. Please welcome the show with me, David Young. Hey, David, how are you?

David:

Great student. Great, Brett. Thank you. And thanks to everyone listening, watching.

Brett:

Excellent. Yes. And by the way, you can find David Young and his team at Anfield capital. I believe it's LLC.com. Is that correct? Angel capital?

David:

Yeah, that's right. Exactly. Anfield Capital LLC.com.

Brett:

Excellent. So David, David, would you give us a little bit more about your story and your current focus?

David:

Sure, happy to. So I'm sort of one of those investment geeks, I must admit proud of it. spent my entire career in the investment management industry with, some cases small firms in some cases, large firms Smith, Barney Harrison up, you know, back in the day, that was the mid-80s. I'm dating myself, and then you know, for quite some stretches at PIMCO Pacific investment management company which is a fixed income, it's an asset management giant best known for their fixed income or you know, debt investing work for the firm's along the way and started in field capital, actually Anfield capital a little over 10 years ago now, the more recent activity is with the estate planning, team DSP, wealth management, so we can talk a little bit about what are all those acronyms? And what's all that about? So that's me, sort of, you know, MBA from the University of California at Irvine did rejoin the finance faculty there, gosh, probably it must have been 2008. Nine, I was after leaving PIMCO. One of the reasons why I left PIMCO was to start to reinvigorate the career redirect, I should say, we can talk more about that. And yeah, and then and then read about the time decided to start and field Capital Management. So it's been exciting stuff, it was all about, you know, rediscovering my passion for the science and art of managing money. I'm a trained economist and found the best or most interesting application to that. You know, the dismal science as some call it in the field of investment management and that's what we do native of Liverpool, England, hence the Anfield Capital being the name of the firm Liverpool is located in an area or near a city called Anfield and I've lived in several places around the world in the US and Europe in particular, but I'm here in Newport Beach, with my Wife Sandy and just enjoying managing money and helping clients.

Brett:

It's a beautiful background and a cool story. And we'll dive into a little bit more about those particulars in a minute. I want to take one step back, though, and help the artists get to get to know you a little bit more. You know, I believe we've all been given certain gifts in this life. And I want you to kind of go back to maybe it could be the university days, it could be the high school days, it could be younger, right? And I believe we've been given certain gifts and these gifts are given to us to be able to be a blessing and help for others. So maybe what were those one or two gifts days that you believe you were given? And how does it help? How do you bless others today?

David:

Oh, gift, Sir. Yeah, that's a tall order to think about that. I don't tend to think of myself as gifted. humble, maybe that's a gift. No, I think so. I was a late bloomer in life. And for all, you late bloomers out there, don't worry. It's okay. Sometimes it's better to wait. And, and yeah, much to the concern and dismay of my parents. More than one time, I'm quite sure. It was like, you know, to see the talk, see, okay, super quiet, which you would not believe now everybody's like, not believe that, you know, so that's okay, you know, things changing, like, but I think Adam that spending a lot of time inside my head being a bit of a late bloomer, I spent a lot of time in my youth, watching, observing, listening, beautiful thing, just taking it in, didn't feel the need to necessarily talk a lot or participate, you know, necessarily. So I think that kind of maybe keen observational skills about people, about markets, about portfolios about numbers, and being able to try and figure out what separates what matters from things that maybe don't matter. And in the modern world, there's so much going on that ability to just pause and focus. And I think it is a gift. What else would I comment on? Yeah, I think if I may be allowed a second gift is a can-do attitude. I've always said, If you want something done, ask the busiest person, you know, and I'm typically one of the busiest people that many people know. And so the can-do attitude helps me be positive with others, and say, you know, let's not get hung up on the problems, the challenges, the impediments. Let's see if we can find a way past. No, let's see if we can find a yes, let's see if we can find a way to make it work. I'm going to be careful with that one. Because sometimes the answer is no. And in my journey, to become a better person, and I'm still trying to find the blend. Yes, all the time is not the right answer, either in business or in life. It's that, you know, careful application of the occasional know, that puts things in balance, maybe those two things.

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