SKIP TO CONTENT
To the many friends, clients, and associates of Croak Capital,
I turned 65 last week – what a milestone! I started in this business in August of 1982, the day after I graduated from the University of Toledo. As a history and political science major, I’ve closely followed world events, politics, and social trends alongside their effects on the financial world. As I look ahead to 2025 and reflect on the world as a new 65-year-old, there are three powerful realizations that stand out as shaping our reality today.
The Fourth Business Evolution: AI’s Transformational Impact
The first realization is that we are in the midst of the fourth major business evolution in human history: artificial intelligence. The advent of the steam engine in the 1750s sparked widespread industrial manufacturing. The invention of electrical conduction and the assembly line in the 1860s illuminated the world. The computer microchip in the 1970s enabled instant and global communication. Each of these breakthroughs not only transformed industries but laid the groundwork for the next evolution.
Remarkably, this fourth evolution—AI—has emerged in half the time of its predecessors yet holds more potential impact than all of them combined. We haven’t even begun to scratch the surface of what it can do, in ways both good and bad—but one thing is certain: we cannot turn back.
The Power of Media and the Battle for Truth
The second realization is that—for better or worse—the most significant influence on collective thought today is the relentless onslaught of media messaging. The rise of AI has only sharpened this, allowing entities to craft and distribute their “message of choice” with remarkable precision and effectiveness.
Much of this messaging is designed to elicit fear, greed, or the feeling of being taken advantage of. The real question—how much of it is rooted in truth—will be debated for generations. What cannot be debated, however, is its effectiveness. Carefully engineered narratives shape politics, economies, and personal identities. Leaders are chosen or rejected. Products are sold. Lifestyles are molded. Self-esteem is shaped. Cyberbullying is rampant. Information—both true and false—spreads at blinding speed.
Truth has become secondary. What matters now is whether a message is believable enough to attract money, attention, and reinforce existing worldviews. It’s no longer about facts; it’s about the narrative. This shift has driven the deepest national polarization since the Civil War. Even the financial world is not immune. Companies and sectors now thrive on perception as much as performance, with media amplifying their stories to shape public belief.
Croak Capital’s Approach: Seeking Substance Over Smoke
At Croak Capital, our goal for 2025 is to focus on substance over illusion. We seek opportunities where money, technology, talent, and innovation are genuinely flowing—not where PR departments and media hype suggest they are. We’ve doubled down on rigorous investment research and disciplined processes. We uncover exclusive investment opportunities to give our clients the best chance of long-term success, ensuring that our portfolios thrive in all market conditions. In an era where messaging influences markets more than fundamentals, we strive to be a voice of clarity in the uncertainty that lies ahead.
Understanding the impact of AI and media-driven narratives reinforces why guidance is more essential than ever. The potential for investment gain—especially through AI—is greater than at any point in history. Unfortunately, so is the risk. The solution to both lies in having the right advisor who provides the right answers and executes the right strategy by:
- Conducting thorough, unbiased research
- Using data-driven processes to manage risk
- Reacting to market changes in days, not months or years
- Providing exclusive opportunities unavailable to the broader investment community
A Personal Realization: What Truly Matters
The third realization is more personal: The more things change, the more the important things stay the same.
I’ve always believed that investment management isn’t about money—it’s about freedom from money. True wealth means having the ability to live your life based on passion, not purse strings. In the end, the quality of our lives is shaped by our relationships and experiences.
At 65, I find myself reflecting on these moments. I feel deeply blessed to be a husband, father, and grandfather, surrounded by meaningful friendships that bring joy, insight, and perspective. I’ve watched sunsets over the lake with my family, trekked the mountains of Rwanda to sit with mountain gorillas, climbed the Sydney Harbour Bridge, and scuba-dived the Great Barrier Reef. I’ve rafted the Snake River, biked through Vermont and the English Lake District, and ridden horses along the beaches of Aruba. I walked my daughter down the aisle at a villa in Positano, toasted my son at his wedding in Charleston, and marched in Washington for the March for Our Lives rally. I’ve seen Neil Diamond and Little Big Town more times than I can count.
I have tried to live with the same care and dedication I saw in my personal heroes—my father and Robert F. Kennedy.
Final Thoughts: Gratitude and Looking Ahead
At the end of the day, I am incredibly thankful for you—for being part of my life and for the trust you place in us.
When Frank Sinatra was on his deathbed, his friends debated where the best place to live was. After listening quietly, he finally stirred and said, “The best place to live is where your friends are.” How true!
The Chinese have a saying: “May you live in interesting times.” And 2025 is undoubtedly the most interesting time of my 65 years. I’m glad I get to live it with love, promise, hope, and gratitude.
Please accept my sincere thanks for our relationship, and my best wishes for an extremely successful and fulfilling 2025—both personally and professionally.