The Trevor Rose Podcast

Greetings, and welcome back to the podcast. 
This episode we are joined by Mr. Cole Smead - CEO of Smead Capital Management - a registered investment advisor headquartered in Phoenix, AZ with offices in Jersey City, NJ and London, UK., with assets of approximately $6 billion under management. 
Cole Smead, CFA is Chief Executive Officer and Portfolio Manager where he oversees all activities of the firm. He is the final decision maker for all investment decisions in the firm’s international equity portfolios. 
Cole has been with the firm since its founding in 2007. Prior to joining Smead Capital Management, he was a Financial Advisor with Wachovia Securities in Scottsdale, AZ. 
He is a member of the CFA Institute. 
Among other things we learned about 25% ROE at 2x Book: Finding Value in Canadian Energy.
Enjoy.
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*This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions.
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This episode we are joined by Mr. Matt Rachiele - President & CEO of XXIII Capital - an industrial real estate firm with ~$100 million under management.
Matt co-founded XXIII Capital Inc. in January 2023 and has nearly two decades of diversified commercial real estate, private equity and capital markets experience. He has played a key role on the execution of over $40 billion in completed transactions throughout his career. 
Matt's background includes holding various senior positions with one of the world's largest commercial real estate services firms, including managing a commercial brokerage team of over 80 in Calgary (the largest in Alberta at the time), serving as the interim Canadian chair of global capital markets and investment sales. 
Prior thereto, Matt spent 12 years in Capital Markets, including Investment Banking (Calgary) and Mergers & Acquisitions (Toronto) roles with two of Canada's largest banks. Matt is a CFA® charterholder and graduated from the Haskayne School of Business at the University of Calgary with a Bachelors of Commerce in Finance. 
He is a member of the Board of Directors of Wilmington Capital Management Inc. (TSX: WCM.A; WCM.B) & Brown Bagging For Calgary Kids, a completely privately funded non-profit organization providing meals to ~8,000 students across Calgary in ~300 schools and ~30 communities with a volunteer force of over 1,000. 
Among other things we learned about 180 Million Sq Ft: Calgary's Industrial Real Estate Boom. 
Enjoy.
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Thank you to our sponsors.
Without their support this episode would not be possible:
Connate Water Solutions
ATB Capital Markets
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*This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions.

Support the show

This episode we are joined by Mr. Adam Rozencwajg - co-founder & managing partner of Goehring & Rozencwajg - a natural resource investment firm with ~$2.5 billion under management. 
Adam Rozencwajg is a Co-Founder and Managing Partner at Goehring & Rozencwajg (G&R), a premier global natural resource investment firm based in New York. With 17 years of investment management experience in the natural resource sector, Mr. Rozencwajg is recognized as a leading authority on commodities, renowned for his contrarian, deep-value investment philosophy and original research spanning decades of long-term market cycles. 
His prescient investment themes and industry renowned and widely followed quarterly commentaries have cemented his status as one of the foremost experts in natural resources worldwide. 
Mr. Rozencwajg’s expertise spans the entire commodity spectrum, including oil, natural gas, uranium, precious metals, base metals, and agriculture. His ability to uncover long-term commodity trends and identify undervalued opportunities poised for reversal has delivered exceptional results for investors. An innovator in applying technology to investment research, Mr. Rozencwajg has also successfully integrated proprietary neural network artificial intelligence models into G&R’s research process. 
These enhanced models offer unparalleled predictive capabilities, providing deep insights into recoverable reserves for oil and natural gas deposits and further enhancing the firm's strategic edge. A sought-after speaker, Mr. Rozencwajg frequently presents at prestigious industry conferences globally and is regularly featured in leading financial publications, including The Wall Street Journal, Barron’s, and The Financial Times. His thought leadership continues to shape the natural resource investment landscape, influencing both institutional investors and industry operators. 
Before co-founding G&R, Mr. Rozencwajg served as Vice President at Chilton Investment Company, where he partnered with Leigh Goehring to manage the Chilton Global Natural Resource Fund from 2007 to 2015. Under their leadership, the fund reached peak assets exceeding $5 billion, driven by their disciplined, research-intensive, and deep-value approach to investing. 
Earlier in his career, Mr. Rozencwajg gained valuable experience in financial markets as part of the Investment Banking division at Lehman Brothers from 2006 to 2007. 
Mr. Rozencwajg holds a Bachelor of Arts degree with a dual major in Economics and Philosophy from Columbia University and is a CFA Charterholder. 
Among other things we learned about $70 Oil: Setting Up the Next Bull Market
Enjoy.
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Thank you to our sponsors.
Without their support this episode would not be possible:
Connate Water Solutions
ATB Capital Markets
Bunch Projects
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*This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions.
Support the show

This episode we are joined by Mr. Ben Dell - co-founder & managing partner of Kimmeridge - a private equity firm with ~$6 billion under management. 
Ben Dell is a Managing Partner of Kimmeridge and oversees investment activity across the firm. He is closely involved in the screening of new geological opportunities and in the negotiation and execution of investment strategies. 
Prior to founding Kimmeridge, Mr. Dell was a Senior Equity Research Analyst for Oil and Gas Exploration and Production (E&P) at Sanford C. Bernstein, where he was ranked first three times in the Institutional Investor Research Survey for coverage of E&Ps. 
Mr. Dell was also ranked for Natural Gas and for Oil Services and Equipment coverage. Mr. Dell joined Sanford C. Bernstein in 2003. Prior to joining Bernstein, Mr. Dell was employed at British Petroleum (BP) in its M&A and finance group. Before moving into the finance field, Mr. Dell also held positions as an exploration geologist and geophysicist across several of BP’s regional business units. 
Mr. Dell is currently CEO of Chestnut Carbon, a nature-based carbon removal developer and is on the Board of Caturus HoldCo, LLC., a large private natural gas producer in South Texas. He previously held positions as Chairman of the Board and interim CEO of Civitas Resources, Inc. (“Civitas”), a company that formed from the merger of Extraction Oil & Gas, Inc. and Bonanza Creek Energy, Inc. 
Mr. Dell earned an undergraduate degree and a master’s degree in Earth Sciences from St. Peter’s College, Oxford. 
Among other things we learned about $40M to $6 Billion: Building a Private Equity Firm in Energy.
Enjoy.
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Thank you to our sponsors.
Without their support this episode would not be possible:
Connate Water Solutions
ATB Capital Markets
Bunch Projects
-
*This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions.
Support the show

This episode we are joined by Mrs. Bonnie DuPont — director and former Calgary energy executive whose board career spans Viterra, NAV Canada, the Bank of Canada, AltaGas, Burke Construction, Silver Birch Energy, Silver Willow Energy, G3 Canada, and CustomerWorks. 
Mrs. DuPont executive career includes 13 years with Enbridge (formerly Interprovincial Pipelines) from 1997 to 2010, where she led talent and leadership development across the organization and oversaw the integration of the company's Mid Coast Energy acquisition in Houston, Texas. 
Prior to Enbridge, Mrs. DuPont held senior roles in the agriculture sector with the Alberta Wheat Pool and the Saskatchewan Wheat Pool, and began her career in energy with the Saskatchewan Power Corporation following a position with the Saskatchewan Department of Labour. 
Mrs. DuPont has also served on the University of Calgary's Board of Governors, the Haskayne School of Business Management Advisory Council, and currently sits on the strategic advisory board for the O'Brien Institute for Public Health at the Cumming School of Medicine. 
Mrs. DuPont was the first female President of the Calgary Petroleum Club. 
Mrs. DuPont Ms. earned her undergraduate degree from the University of Regina and went on to complete a Master's degree at the University of Calgary. 
Among other things we learned about 50 Years in Canadian Energy: Pipelines, Boards & What's Next.
Enjoy.
Thank you to our sponsors.
Without their support this episode would not be possible:
Connate Water Solutions
ATB Capital Markets
Bunch Projects
-
*This podcast is for informational and educational purposes only, and is not intended as investment advice. Please do your own research, and consult professionals directly before making any investment decisions.
Support the show