Jared Kaplan – CEO Interview – OppFi

Hosted by
Bill Brewster

Bill Brewster is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast.

While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world.

First and foremost, Bill owns stock in OppFi. This episode is not an invitation or solicitation to buy or sell shares in FGNA, the entity that OppFi is merging with in a SPAC transaction. Second, The Business Brew and Bill encourage listeners to do their own due diligence and talk to their financial advisor before purchasing or selling shares in any security.

With that said, Bill wanted to interview Jared because OppFi sits at the intersection of many Business Brew episodes. To begin, FGNA is taking the company public via SPAC (See Andrew Walker’s episode for a discussion on SPACs). Next, Mike Mitchell, our first guest, introduced Bill to Kyle Cerminara, a recent guest, who is part of the group taking OppFi public. Finally, OppFi would have never passed Bill’s “smell test” if it wasn’t for Tyrone V. Ross’ episode where Tyrone talked about the need for serving the underbanked.

In the interest of complete transparency, Bill does not have a significant portion of his net worth allocated to OppFi. Instead, OppFi is part of a “basket bet” Bill made on Kyle Cerminara. Within that bet, Bill finds the incentives of all the people involved compelling. That said, Bill has not done enough work, nor is he convinced enough on OppFi’s prospects, to make OppFi a significant weighting in the portfolio.

For the avoidance of doubt, this podcast interview is biased and is part of an open source due diligence project. Bill may change his mind at any time and does not commit to letting people know when he does so.

We hope you enjoy the episode.


Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification.

Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation.

This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.

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Episode 26