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/0gXT35Dy Invest 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.