Week 2

The second five-hour session with at-risk males, ranging in age from 16 to 23, took place last Thursday. “At risk” is a term fraught with negative implications and seemingly insurmountable odds. It’s typically used to describe a group, in this case, most notably inner-city males, as potential casualties in the life outcome arena. Fatherlessness, hopelessness, and at times, feelings of worthlessness often engulf this demographic given their economic plight and gravitational pull to veer off course. The latter will not happen under my watch as Papa Coverage; paternal blessings are required to help these impressionable young men fulfill a life of purpose and legacy of promise. The in-class lesson for the day included a macro introduction to the world of investing. Fundamental differences exist among wealth-building tools, including certificates of deposit, bonds, stocks, mutual funds, real estate, private equity, commodities/precious metals, and crypto currency. As risk increases along the investing continuum, so does return. And no, playing the lottery wasn’t an investment option for them to select! Here’s what these young men quickly realized: real wealth takes time to materialize, especially the selection of value stocks.

Made famous by Benjamin Graham and Warren Buffett, value investing is the art and science of discovering “hidden gems,” or finding stocks selling at a discount (significant in many cases) to their current market price. Value investors assess a company’s moat, meaning, management, margin of safety, and motivation in generating appreciable profits and profit margins to derive at intrinsic value, or what a stock is actually worth. Thus, we visited Diamond Hill Investments for an up-close and personal lesson on value investing. Nate Palmer, a portfolio manager and research analyst with CFA and CPA credentials, provided the group with a value investing tutorial using Nike as the backdrop. The young men were fed a delicious meal and nourished by Palmer’s words of wisdom on how to build sustainable wealth. The challenge? Being patient with a process that punishes the emotionally driven. Our next field trip was Luxe 23, a premium luxury apartment building in the Short North. Arranged by The Robert Weiler Company, the building owner, participants were given a private tour of the premises by the property manager, Teena. Living large isn’t cheap. But as my wife Monya likes to say, “You get what you pay for.” I will not allow the young men under my watch to trip over the low bar of mediocrity nor make excuses for what’s not possible. With the right financial game plan, they can achieve a prosperous life down the road if (when?) they make the right moves today. Speaking of making the right moves, former OSU football great Mike Doss and current sales and leasing agent with The Robert Weiler Company, shared his inspirational story with the group. Check out the video above to view this unforgettable experience.