Jesse Stein, Real Estate Technology Expert, ETF Managers Group
Jesse Stein is the Real Estate Techology Expert at ETF Managers Group.
He is also Managing Director of Everyrealm Inc.
Beginning in 2020, he was Head of Real Estate at Republic, a multi-asset investment platform.
He also is the Managing Principal of Advanced Fundamentals, an index and data analytics firm that developed the Brixx Commercial Real Estate Indexes, which serve as the underlying index for exchange-listed futures and options products.
In his 3,195 word interview, exclusively in the Wall Street Transcript, Jesse Stein elaborates on the real estate technology disruption that will innovate the sector and provide years of investment upside:
“Real estate, one of the oldest industries in the world, and one of the largest asset classes, is still, at this point, exceedingly antiquated.
Real estate transactions, which have occurred for hundreds of years, are not too much different than how they were decades ago. The process of buying and selling a home, it’s still ancient, it’s still expensive, it takes way too much time.
Because there are so many moving parts within this transaction, and different firms and different paperwork involved, the companies within this ETF are innovating and disrupting the industry to provide more efficiency from a cost perspective in order to make the entire process more efficient.
Streamlining these manual inefficient activities are included in a number of different parts of the real estate transaction.
So for a real estate seller or brokerage firm, it’s in marketing the property and allowing people to view the property in different ways using technology.
For a buyer, it is in being able to research different properties that are available and to view those properties in ways that you weren’t able to previously.
On the mortgage side, it’s in processing a mortgage origination, and the underwriting and the servicing of the loan.
And then it’s also within the more mundane aspects of real estate transactions — title insurance, the appraisal, the settlement, escrow, closing, home warranty, insurance, everything that goes into selling, buying and then owning residential real estate.
The ETF also includes a number of companies that are providing services for the commercial real estate space.
And it’s also important to point out that this is a global ETF, where approximately a third of the companies are either based in or operate overseas.
So you are receiving exposure not just to U.S.-based proptech companies, but to global technology companies focused on the real estate space.”
Anton Schutz, President and CIO, Mendon Capital Advisors
Anton V. Schutz is President and Chief Investment Officer at Mendon Capital Advisors.
He is the Portfolio Manager of RMB Mendon Financial Services Fund.
He founded Mendon Capital in 1996 with a long/short and event-driven investment strategy focused exclusively on the financial services sector.
Previously, he worked at RBC Dain Rauscher with an institutional sales trading role in the financial institutions group. He also spent 10 years at Chase Manhattan Bank, where he structured investment products utilizing hedge funds and also developed and applied financial risk strategies.
He has been interviewed by CNBC, Bloomberg, The Wall Street Journal, Barron’s, The New York Times, Financial Times, Business Week, Investors’ Business Daily, Smart Money and others.
He graduated from Franklin and Marshall College and received an MBA from Fordham University.
In his 3,140 word interview, exclusively in the Wall Street Transcript, Anton Schutz develops an interesting pick for investing in the banking technology sector:
“I think one of my most interesting companies, which is my largest position, is a company called Live Oak Bank (NASDAQ:LOB). Live Oak Bank has a venture business called Canapi Ventures.
And they’ve already had one fund. They’re launching a second fund. And I believe they’re going to have some pretty impressive returns from those funds, which will result in some earnings for them.
They have directly funded some venture companies in financial technology.
One of them was just taken over by one of the large core processors.
So that deal hasn’t closed yet, but again, will give them some capital that they can reinvest, make other investment decisions. They’re the largest SBA lender in the country.
And if you’ve got a good growing economy, business is going to be pretty strong for them.
And one of the things that they need to continue to work on is getting core deposits.
Because they’re such a large SBA lender, they’ll be able to get deposits from affinity groups, like veterinarians. So that one is really interesting.”
For additional investment opportunies in the disruption of the real estate and banking sectors by technology, read the entire interviews with Anton Schutz and Jesse Stein, exclusively in the Wall Street Transcript.
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