Episode 334 - Magnus Reitan: Managing (Significant) Family Wealth

This is the Rational Reminder podcast, a weekly reality check on sensible investing and financial decision making from two Canadians. We're hosted by me, Benjamin Felix, Chief Investment Officer at PWL Capital, and Cameron Passmore, Portfolio Manager at PWL Capital. Welcome to episode 334 and Ben. This week we have a very interesting and special and kind of inside baseball conversation with Magnus Rayton, who is the CEO of Rayton Capital. And listeners might remember that back in episode 321, we had Hkon Kavlion, who is the CIO of that family office.

And this is the group, the people that invited me to join in their inaugural investment conference in Norway a month or so ago, which was an incredible event. And we talk about that at the back end of this conversation with Magnus. Incredible story, incredible family. They're a storied family in the retail and grocery and convenience stores across Scandinavian countries. And we thought it'd be interesting to have Magnus join us just to give us his perspective as someone in a family that has capital to manage that comes at it from an evidence-based perspective.

Kudos to you, Bannon, for reaching out to him to have him on after Hawken joined us, which was also a very solid conversation. You called it inside baseball, Cameron, but it's a different kind of inside baseball because Magnus sits in the seat of the asset owner. He is himself an investor managing money on behalf of his family businesses, similar to many listeners who might be managing money for their spouse and maybe their kids, but on a different scale, obviously. But the interesting thing about Magnus is that he's in that seat and many people who are in that seat and have large amounts of capital to invest end up getting really complicated portfolios, taking the advice of financial institutions to invest large amounts in illiquid assets and private equity and private credit and all that stuff.

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