Coffee With Cagnetta
Join Andy Cagnetta, CEO of Transworld Business Advisors, as he sits down with business leaders, entrepreneurs, and industry pioneers to uncover the secrets of success, leadership, and growth.
Coffee With Cagnetta
CWC EP 33 | Andy Cagnetta Sits w/ Sal Naro, CEO of Coherence Capital Partners LLC
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In this candid conversation, Andy Cagnetta, CEO of Transworld Business Advisors, sits down with Sal Naro for a wide-ranging discussion on what truly defines long-term success. Rather than focusing on titles or surface-level wins, Sal shares the formative experiences—family responsibility, immigrant work ethic, and real-world pressure—that shaped his leadership philosophy long before the C-suite.
This conversation explores the difference between ambition and responsibility, why culture consistently outperforms strategy, and how leaders can build organizations that endure across generations. Sal’s story is a reminder that the most effective leaders are often shaped outside the boardroom—long before their first business card.
In this conversation, we cover:
Leadership: Why real leadership starts long before your first job title
Business Values: How family and upbringing influence decision-making
Culture: Why people-first organizations outperform over time
Resilience: Navigating pressure, uncertainty, and long-term responsibility
Legacy: Building something that lasts beyond individual success
Perspective: Lessons business school can’t teach you
Whether you’re a business owner, executive, entrepreneur, or future leader, this episode delivers grounded insight into how character, accountability, and long-term thinking create sustainable success.
All right, welcome back, everybody. Another coffee with Cagneta, and I am very honored to have my friend Cel Narrow here. Uh Cell is with Coherence Capital or Coherence Credit. True Credit. Coherence Credit. But you know, Cell is a very, very successful businessman, been in the capital uh in the money business for a very long time, but and but he's a really down-to-earth guy. He's like one of us. We, you know, grew up in the New York area. So Sal, welcome. Thanks for coming on today.
SPEAKER_01Andy, thanks for having me. I especially like my coffee with Cagnetta cup, and I'm told by your assistant that I actually get to take it home with me. And I I'm not allowed to take any uh proceeds from this type of event. So I may have to declare this on my taxes, but I'm not sure. But thank you. I didn't know you were a public official, but we could actually in my world, uh I I I luckily and thankfully can't even donate to uh uh to political causes. Oh really? Nope. Cannot do it because of uh of various um restrictions in the SEC and disclosures. So yeah. So don't call me for money for any political candidates on either side.
SPEAKER_00I'm not running this week, but let's talk. You know, so uh I did mention quickly that you're from the New York area, and so my and uh I think when we first met we talked a lot about that. Talk about like you were born in Queens?
SPEAKER_01I was Queens, Rosedale, Queens, right by JFK.
SPEAKER_00Wow. And uh but you didn't grow up there for the most part.
SPEAKER_01No, lived there for a few years, and then uh and then uh my dad moved our family out. So I have uh four sisters and me. And so my dad moved our our family out to Dix Hills. Um went to Half Howell Hills High School and Half Howell Hills Schools, and when I moved to Dix Hills in 1964, there was literally nothing. Yeah. Uh my dad was a builder, my grandfather was a builder who came over from Sicily, and um it was all cornfields, all cornfields, and so uh he built a house on two and a half acres. We were the only house. Wow. And of course, now it looks like uh almost looks like uh Rio Vista. Yeah, yeah. And it's so it's packed in and there's so many houses and stuff. But yeah, so we moved out to Long Island in in 1964, and I was there uh really full time uh growing up until uh 1979. Then I went to college at Long Island University, CW Post. Um uh my family actually started moving down here in bits and pieces from New York, from Queens in the late 60s. So they w they went down to Hollywood. Uh and my dad moved down here in 79, um, and then I bought my first home here in uh 2007. Wow I've been a full-time Florida resident ever since 2018. Wow and I couldn't be happier. Yeah. Still have the house in New York for now. Um but uh but I spend almost all my time down here. Certainly uh, you know, nine months of the year.
SPEAKER_00Yeah. Well, it's certainly the weather is perfect most of the year. And then the three months we all want to get out of here, you know. It's extremely the weather's amazing.
SPEAKER_01I'm fortunate enough to live down by the water, which I love. I'm a huge uh ocean sea person. Right. And generally, I think people are happy in uh Florida. You can say for whatever reason, but generally it's a happier place to live. It's uh New York is uh is is it's only gotten more challenging.
SPEAKER_00Right.
SPEAKER_01It may get even more challenging still with the upcoming changes that may happen electorally, et cetera. But certainly with the changes in uh policies around drugs, exactly, for example, yeah, and uh and and pot and things, it's it's New York has has really changed. I think many cities have, you know?
SPEAKER_00Yeah. So let's talk about growing up in New York. I mean, you so you went to school up there. How'd you wind up in the finance business?
SPEAKER_01Yeah, well, I wanted to be a gym teacher. Right. Um I I was uh an athlete, a scholarship athlete in you know into college. I was um all league and all county in in football, you know, in Half Hollow Hills. And uh I I always had this dream that I was gonna maybe play in the NFL as a running back. I was pretty good, but small. Right. And uh you know, every kid has this dream but that they can they can play in the pros and whatever sport it is. And of course, mine came to a super abrupt ending uh when I tore the Sortorius muscle in my uh thigh um in about the third or fourth game of my C of my senior year. So I was a three-year starter at at post. Um I was a walk-on athlete. Uh so I I was recruited, but I didn't have a scholarship. I earned my scholarship in the spring. So I went I went to post on an athletic and uh academic scholarship. And um my dad pushed me, you know, he said, uh, you're not gonna make any money as a gym teacher and as a coach. So you need to, you know, take business courses. So he pushed me to take business courses. I I went to post initially as an accounting major. Boy, did I hate that. And after six months, uh I just couldn't take it. So I switched to finance, switched to major to finance. I actually have a double major in finance and marketing and a minor in economics. But and and switching out of accounting, what in what I do and in my world, accounting is important, but but but not the crux of everything. Um and and so marketing is super important and uh and understanding finances. Uh and I took to that world like a duck takes to water. So after I got hurt, you know, midway through my my uh my senior season, I went and got a job uh in an internship, which I think is super important, particularly from for a young person who doesn't have family connections on Wall Street, etc. Or has or have gone to, you know, a top school, right? I mean, I was recruited by top schools, I was recruited by a couple of hobby league schools. I didn't go. I didn't go because I my girlfriend was going to a school in Long Island and I thought that I was gonna remain in love. And I and you know, so who cares about Princeton when you're you know when you're when you're in love? So yeah, so but I I look back and I don't regret it, right? So anyway, got hurt, went and got a job with the Drive for Service Corporation. Nice. I was 20 years old. Uh and uh I I became the youngest person that they ever had who got their Series Six. Uh I was there for six months before I graduated uh college, and then they offered me a job uh immediately after school, which is another great thing about internships at whatever level.
SPEAKER_00Right.
SPEAKER_01And I took that job and uh I started in the back office. I started as a client service representative, um, and I sort of worked my way up over the years. I was at Drefus for only a short time, a year in change. Uh a woman by the name of Irene Pappas gave me the opportunity to hire me full-time. And I went to her after seven or eight months and I said, Irene, I I want to make a lot of money, and I'm not gonna do it here. You know, put I want to be in the trading side, I want to be in the more active side. And she said, Well, I don't have that for you now, but we really like you. You know, go out and go out and try to do better for yourself if you can, and I'll support you. And so I found a different opportunity, and she did support me. I found a job with a company at at the time called Marsan Securities. You you'll be you'll you're old enough to remember First Jersey Securities. His name was Bob Brennan. Come grow with us. Yeah. Well, he he grew all right. He he grew right into uh people's bankruptcy accounts. Uh it was it was pretty crazy. It was the original, one of the original ball boilermaker shops.
SPEAKER_00Right.
SPEAKER_01And uh so I got a job with them, and the the whole job was hey, you know, you come here, you pay for your own series seven.
SPEAKER_00Right.
SPEAKER_01Right. And you you live somehow. We're not gonna pay you anything, and we'll sponsor you. So they sponsored me. I took a one-week crash course, I had to pay for it myself. I passed my series seven, and I started learning, you know, literally like the Wolf of Wall Street. Here's a list, call people up, here's your script.
SPEAKER_00Pounding the phones.
SPEAKER_01And pounding it, and you know, you got to buy from me. And I did it for about three months. And at night I was working in bars in clubs, and I was bouncing and, you know, helping, helping the owner out with with various things. So that's how I supported myself. So I I worked all day, and then I weren't worked four nights in the clubs until four. I don't need a lot of sleep. I sleep about four hours a night. So I worked till four in the morning, I'd come back, and then I'd go back to work again. Funny, I met an Italian guy, I cold called, and he, and we, we got it off. We bonded because of my my background and my name and his. And we started talking about the market, and he didn't have any representatives, any, any, any brokers or anything. And but he had a bunch of money and he didn't know what to do with it. So I started talking to him about building a diversified portfolio. You know, you should have some of this and you should have some of that, you should have some fixed income and some and some equities, and you want to build a balanced portfolio for your family over time. Well, my boss at the time, who remained nameless, was furious. That's not what we do here. Here's your script. Here's what you're gonna sell. You're gonna sell this penny stock to this guy. I said, but it's not appropriate for him. You know, he doesn't want to buy underground airways.
SPEAKER_00Right.
SPEAKER_01You know?
SPEAKER_00Um and lose all his money.
SPEAKER_01So after that, I mean, literally, you know, two days later, I quit. And uh and then I moved into um a company called Ovest Securities, which was at the very beginning when they deregulated the commission schedule and they they created discount brokers. So so Muriel Siebert, Mickey Siebert was um one of the first women on the New York Stock Exchange, and she started the first uh discount brokerage firm. And my company, Ovest, was the second or third. And so I I went to Ovest and I learned the business again from the ground up, didn't represent any people, just handled systems, kind of like what Charles Schwab and Fidelity are today. And and it and that really got me started in the in my career. And then I was full on into the 80s, right? The old 83, 84, 85, 86, and the market just took off. And I got very fortunate. Uh, had a couple of people who liked me recommended me, and I ended up in various positions uh at firms and moving up. And uh I my first big firm was Kidda Peabody.
SPEAKER_00Yeah, sure.
SPEAKER_01Uh and I learned a lot about uh how to how to be a round lot trader. Uh round lots are institutional size or a million or above. I started out as an odd lot trader, trading small pieces of bonds, et cetera. I've always been on the fixed income side. So I moved uh and I moved to Kidder. I learned how to trade institutional round lots, uh, and that was right before and after GE came in. So I was there the day that they came in and grabbed our CEO, Dick Wigton, and threw him up against the wall. I was right there watching this old man, kind of looked like me, a little portly guy, slapped handcuffs on him, slammed up against the wall for alleged violations of which he never did and which he was completely uh exonerated for. Um, and that was my first understanding of the law as it relates to the SEC and politics and things. And boy, I didn't love that uh at all. But I was there for it, and I and I got to understand how things really are. And so, you know, you may think you're right, you may be right, but there's a lot of circumstances around all that that actually determine whether you should press your uh press your option to be right or not, right? So and you know this in your business world with some of the deals that you've done. I'm sure you've seen lots of opportunities and lots of things, and you know, some sometimes you just your better sense that you probably not touch that one.
unknownRight.
SPEAKER_01So I don't, you know, so there are certain things you do in my world, you just you just don't touch it. So anyway, kid of Peabody, and after that, I sort of rose through the ranks. I ended up at uh Bass Earns. Yeah, sure. That's where I became a partner in uh 19, I want to say 1990. Um and I was there for almost 10 years, and then from there I went to UBS. And so it's just been a it's been a very uh incredible ride, super, super blessed. And uh I just have um a natural ability as it relates to to trading. You know, just trying to I understand risk in intuitively, uh, and that's helped me as a trader and a portfolio manager all these years. Um but I think the important thing that I learned in the early days is you have to be true to yourself. Like what I wasn't being true to myself to try to take that guy veto and sell him underground airways. It wasn't the right thing to do. And so I've made my life, not just a business world, but in my personal life, and always just trying to do the right thing. And sometimes doing the right thing is not easy. No, I mean it's it's certainly not the most profitable, right? Um, but it's the way you live with yourself.
SPEAKER_00Yeah, I mean, I I I know, you know, you you do a lot of work with uh young people at uh Nova Southeastern and you've that you volunteer your time and and um you know you even said it earlier how important things are like um you know, like uh having young people do internships and giving them those opportunities. And you you know, it's funny, coming out coming into a an industry where your parents weren't involved, where you really weren't exposed as a kid, and you were just lucky enough to be in the right place at the right time to get those exposures. You know, how do you how do you counsel people today, uh, even your own people that work for you, how do you counsel them today to get more involved?
SPEAKER_01You know, I uh when I went to the last board meeting at Nova, uh not the one we had last night, but the one, you know, six months ago. And I went in there and I dressed like I don't normally dress, flashy like this. I had a I have a I have a pretty extensive uh ring that was given to me by one of my uh investors. It's it's pretty amazing. It's actually a NBA championship ring. Wow. The three-peat ring for the Lakers. And and I wore it, and I never wear it, you've never seen me, but I wore it. No, I've never seen that. And I wore it for a reason. I wore it to sit in front of these kids and tell them where I came from, which is kind of nowhere.
SPEAKER_00Right.
SPEAKER_01And I'm sitting in front of them now, and and you know, this is a facade, it's not real, but it's as real as it can be at this moment, and all these things, if you want these types of things, if you work hard and you determine and you and you persevere, you can do it. And when you when you sit in front of Nova students, they're no different than Long Island University students. I mean, it you know, it's uh nothing wrong at all with with having the opportunity to go to a great school like an Ivy or a top 10. And I respect all those people uh very much, and they're great competitors. But the kids I'm sitting in front of don't have that chance, but they have the chance to do what I did. And so what I tried to reflect to them was you can do this too. Now you may have to be maniacal in your in your ambition and super focused, and you may have to make trade-offs and maybe not be as sort of well balanced and and all that type of stuff as as others might be. Right. Um, but but you can do it if you really want it. So what I love about participating on that group is that those are me. Right. Men, young men and young women, just like I was. And it hasn't changed today. In this country, you can still you don't have to hit the lottery, you don't have to be the next Bitcoin genius. If you work hard and you have a dream, dreaming is important, it's critical. Envisioning where you want to be is what it's all about. Dream big is what I tell these kids. Dream big. There is no dream too big for you. And if you dream it, it can come to reality. You know, the power of intention is something I believe in massively. So that's what I try to get across to the young people. And it's not a straight shot. I mean, I've had lots of ups and downs. Yeah, sure. Tons. Uh more that I want to talk about. But uh, I've heard some of the stories. Yeah, you try to win more than you lose. Right. And when you are losing, you try to cut your losses quickly. Yeah. There's a there's a there's something inside you, there's a little voice, and that voice will tell you whether it's right or wrong, or are you doing the right thing or not, or the trade is a good trade or a bad trade. And and sometimes the problem with people is that they stay, they hang on. They hang on when it's a bad trade, they hang on when they're in the wrong job, they hang on when they hired somebody and that person's not cutting it. They know they should make a change, but they don't do it. Um, you need to be able to move forward. You know, you the rear view mirror in your car, very small. So when you want to look behind you, it's a small place to look. But when you look at your windshield, your windshield is gigantic. So you want to be out looking out forward and you you want to be able to see the entire field. And that's what you have to focus on. And you're gonna have lots of setbacks. But the key is just keep going.
SPEAKER_00Yeah. I I think you know what I've learned from you in the short times that we've known each other and and I've gotten to spend time with you is two things. You're you're not afraid to work hard. Like when you realize that something's gonna work for you, uh just like simply walking, like, you know, you you know, just you know, talk about like, you know, once you understand how to do something, you're gonna put all your effort into it.
SPEAKER_01Yeah. Like I said, it's you know, people talk about work life, work-life balance. I wouldn't tell you I have a lot of work-life balance. So my life is a large part of work. My I have, you know, my family is super important to me, but they're immersed with what I'm doing with what I'm doing. And you mentioned walking. So I walk anywhere from six to eight miles every day, super early in the morning, six, six thirty. When I'm doing that, I'm talking to my guys uh either in Europe, some of the salespeople, research people, or people in New York, or I'm listening to podcasts, I listen to yours. I listen to a lot of podcasts. I've become addicted. Addicted the last three years. I I love listening to um to bright people. And I'm a glass half-full person. So I I I enjoy listening to those who are half full. They inspire me. Um, so yeah, every morning I'm out there walking through the neighborhood, or if I'm up in New York or New England doing the same thing, and I'm researching, I'm working while I'm walking, I'm getting exercise. And I prefer that over the treadmill, which I saw in your office, by the way, which looks pretty neat. Um, but I like being outside. I like, you know, the ambient noise of of of uh the birds and and and whatever it is. And so uh yeah, every every day I'm out there doing that.
SPEAKER_00Yeah, I uh and that was gonna be my second point, and you uh but I'll I'll just touch on it one more time. I think one of the things that I've learned from you is that you're willing to learn and you're willing to do a lot of research. I mean, you are listening, like you s just said, and I knew I knew this about you, that you listen to a ton of podcasts. You're always you always have your nose to the ground trying to figure out what's going on.
SPEAKER_01Founders podcast is tremendous. I'm a big um history buff. And so biographies are are the are the are the uh my is my you know my read of choice. Right. And now I I do that through uh Founders Podcast, um, where this fellow goes to all these these these you know entrepreneurs. Um I that's why I love listening to your show. I love listening to people's stories. Uh and uh you know, I I always was that way ever since I was just a young kid. Yeah. Yeah. So I I always I always felt like I learned a lot by reading those type of things. So immersed in data. So, you know, I I worked at the biggest firms. I now run a small operation for small firm. We've been in business a long time. Our investors are very important to us. Um, we're in the fixed income world, uh, and it's all about consistency and process and delivering what you tell people you're gonna deliver and balance, you know. Um but I I look at it and I'm I'm like, how much how how how are things changing now? And I've never seen change like this, Andy. Yeah. This advent of AI what would have taken me days to research with my team takes me now literally minutes. Right. Literally minutes. So I I use a very advanced machine learning driven model that combines sort of equity and fixed income type of metrics with um ratings trajectories or the targets for a company's uh credit worthiness. And and and that that model gives you ideas, you know, to buy and sell. And and what it tries to do is show you the rate of change in companies improving, delivering, or going the other way, you know, getting worse, and and you know, the leverage is is going up and they're not performing. Now, with the advent of AI slapped on top of that, I can actually have all the output that comes out of that model, and it literally talks to me. So I run it through Grok. Wow. I'm walking, and Grok is is uh is you know is is Musk's AI. There's a bunch of good AIs. That's my preference. My some of my guys use Chat GPT. But as I'm walking, I'm talking to Grok about the results that the model just spitted out, just spit out to me. And so I I'm I'm able to to cover such a a wider uh range of opportunities. And this for us has really just hit in the last six months where we're beginning to really understand it. And uh it's it's really I think I think the advent of AI, I I think people really um underestimate what it's gonna do for a society. It's going to take the lowest common denominator and raise that denominator. What do I mean by that? You get your driver's license.
SPEAKER_02Yeah.
SPEAKER_01Everybody is around the car driving, and you're you might be Mario Andretti for old people like us, world-famous driver. But you might be behind some person who doesn't know how to drive. You are stuck behind that person. You have to go at their speed, you have to be careful, you have to understand. It doesn't matter what the speed limits are, if they're going half the speed limit, you you can't get around them if you're in traffic. So, so driving is the lowest common denominator. Self driving, as it's coming out now, is going to raise everybody's bar. Ultimately, when all these cars are equipped for self driving, the new common denominator will be the machine learning AI. So you're not going to get stuck behind a really, really poor driver. It's an incredible thing to really think about. And that's how it is more broadly across the world now. All of human intelligence is being poured into these AIs. And they are going to raise the level of everybody because you might have a kid with a phenomenal IQ and a kid with an IQ that's not so high. But they in their hand, they have the same computer, the same AI. And that kid, if he knows what question to ask, will be just as able to respond to you as the kid who has that super IQ. So everybody, everything gets pushed up. And it's I think it's going to be absolutely incredible. I didn't really embrace it until the last few months. And now I'm starting to really, really see what could what could be. And there's a lot of scary things about it. Sure. Forget it. You know, and we could talk about, you know, uh the Terminator, all that other things. Yeah, robots. But but you know what? This is going to happen. You cannot stop what's going to happen. So how do you embrace it? And again, as I spoke to the kids last night, you have to embrace it in your investment process, for instance. You want to ask there are certain questions you always want to ask. You want to ask the AI. AI is a hallucinate, so you know, you need to double check the data, but they're able to get you the data so quickly. And everybody's level of intelligence is going to be raised by this technology. I I completely believe it. So I'm super optimistic about the future. And I'm not worried about, you know, the AI replacing everybody's jobs. Right. You know, I mean, I can give it a certain pick and shovel, a horse-drawn carriage, all that other stuff. I think the human race will continue to morph and and find other avenues and other things to do. It is true that employment is softening right now. Yeah. And that's why the Fed's cutting rates finally. And and the the biggest part of the employment softening is entry-level jobs. And we can understand that. It's not tariff-driven, it's actually entry-level jobs. And a lot of those jobs are starting to be mitigated by AI. Phone banks, for instance, right?
unknownRight.
SPEAKER_01You know, telephone banks. Ah, you know, can I help you? Well, now it's the AI talking to you. Can I help you? You're going back. Cashiers. And you can go on and on and on. Think about this. Tesla, their idea, his idea is to have every car be super fitted for self-driving. So your car, you pick it up, will drive you here to your office, and then it will log into, be part of Uber or Lyft or somebody else, and your car will be driving around Fort Lauderdale, making you money while you're sitting here in the office, and you programmed it to come and come back and pick you up. I know you work super late, so come back at 8 o'clock, pick you up at 8 o'clock at night, and the car's made you money. Now, what does that do? Well, it does it will eliminate some driving jobs, no question. It should also lower the cost of Ubers and Lyfts, et cetera, and so on. And those people that are going to get disintermediated need to, you know, retool themselves to find other opportunities. So but but it's going to happen. It's happening literally as we speak.
SPEAKER_00It is. It is. I I I I can't wait for self-driving cars. I love it.
SPEAKER_01Because I don't hear so well anymore. And I don't seem so great at night. So I don't know about you, but I'm thinking about my first car soon, my first Tesla. Yeah. Or whatever.
SPEAKER_00Yeah. So I I got a lucid. It's kind of cool. Oh, nice. Yeah. So so, you know, I we we do like to you you started this podcast by saying you moved to Florida and you love being down here. What you know, and I know you do a lot of boating and uh what are some of the other, you know, we we always talk about some restaurants. What what are some you'd say you you mentioned Rayos. So you grew up around there.
SPEAKER_01Yes. So the the this the Sicilians and we we know the family for a long, long time. Right. Um they recently opened a restaurant at the Lows, the partners with the Tishes. So we go down there uh once a month. We go up to the New York restaurant a few times a year. I love living in South Florida. Right. I think it's fantastic. Um we're involved with a bunch of charities here. Yep. Uh whether it's um whether it's uh uh Cleveland Clinic or uh the the the Broward Performing Arts Center, um, you know, uh Humane Society. There's a bunch that we're really involved with. I know you're super involved, and that's something that I admire so much about you and your wife. And you you do incredible things for the community, and you're super modest. You're all trying to supermodest and you don't talk about it, which which uh you probably should more. Um but but living down here is an is i amazing. We're one of the original investors in the Bright Line Railroad. Oh, really? Yeah, and uh I love that thing. And we're trying to get people to ride more. Uh you know, people don't want to give up their cars and it was packed.
SPEAKER_00Let me tell you something. You guys went up there, went from six to ten trains. Yep. And it was packed. I've been back and forth to Orlando and it was still pretty backed.
SPEAKER_01Love hearing it. You know, still we're still a bondholder. Yeah. Uh and uh and we're sort of we're always sort of you know trying to get people to ride it um for a million reasons, all of which you know. Um so there's just a lot going on down here in South Florida and the building. And so my concern, like everybody's concern, is sort of infrastructure and things like that. You know, can we handle you know the continued influx of people that are going to continue to come down to South Florida and remains to be seen. Yeah. Um hopefully, you know, we'll have uh, you know, good politicians in place that that that get the joke and and keep investing money into the infrastructure. Yeah. Uh that's my concern down here, to be honest.
SPEAKER_00Well, they were talking about self-driving cars that since self-driving cars could fit in a smaller lane, uh we'll actually wind up with less roads. Yeah. You know, it'll be more efficient. And you know, I heard somebody talking about that as well, is that cars will be driving around and you'll like have a subscription for it. If you want a luxury car, it'll pick you up. That's right. If you want to be by yourself, it'll pick you up. You know, so it'll be it'll it'll be pretty.
SPEAKER_01And your car might be in that subscription. The car you own, if you happen to be a guy that wants to own one, why your car might be in that pool. Yeah. And that's already happening in certain parts of the country.
SPEAKER_00Yeah. Literally. So uh Rayos is uh your one of your stops. What else do you like in Fort Lauderdale?
SPEAKER_01Oh, oh geez. Um too many, right? Yeah, no, I mean there's just there's a there's a lot of good places. Um I mean, you know, the you know, the the top places. I mean, you know, Casa d'Angelo is probably you know the premier Italian place down here. And there's there's quite a few uh others that we that we uh we frequent. Uh we like to cook at home too, believe it or not. Um uh I'm they in dangerous behind the grill. Um so you know, I we enjoy that.
SPEAKER_00It's good. So um, you know, I I the we we like to leave with also with a little bit of advice for young people. We gave some advice of working hard and out there. I mean, I think there's amazing opportunities in the future for young people. Even more than we had sometimes. I think I think the ability to start a business, to promote yourself, you know, we talk about marketing.
SPEAKER_01What's an influencer?
SPEAKER_00Right. I don't even know what that means. I know.
SPEAKER_01I met a guy the other day, handsome guy, and I said, we're talking, and I go, What do you do? He goes, I'm an influencer. I said, What? What do you influence? He goes, I influence you and everybody else. I'm like, wow. And you get paid for that? He goes, I do indeed. So yeah, it's there's there's a lot of opportunities out there. There's a lot of opportunities out there. Well, marketing, I mean, my God, it's it's it's the hardest thing to do, whether it's for your business or for your personal life. And and having the advent of of you know social media is incredible, incredibly dangerous in some ways, too, but incredible. I'm only on LinkedIn, uh, I'm not on any other social media on purpose. Um, but I understand that you know, people do, and I understand why. So look, for a young person, my number one thing is yeah to to really be successful. Not everybody's gonna be really successful, by the way, it's just the way it works. Right. But to really be successful, you have to follow whatever your passion is. You have to have a passion. So even if you have a sort of a nine to five sort of mediocre ish job in your mind, you might have a passion for something else. Maybe it's guitars, maybe it's music, right? You know, and uh and and and and you know, maybe the job is just feeding that real desire that you have. So then let the job feed that desire and figure out over time how to make that desire into something that drives return for you. Or at least, at the very least, it makes you super happy. Because it's not all about money for everybody, right? And not for me either, right? Money is important. Anybody tells you it's not about the money in my world, the Wall Street, they're full of it. It's always about the money, one way or the other. But you know, but fulfillment and feeling like you like you've done something. Uh my dad, as I said, was a builder, and I worked with him for years over the summers, et cetera. And the the sense of satisfaction that he had when he built a house for somebody, a home builder, and and and I he brought me along a lot of times when he brought the people back for the you know, for the final time to see their completed product. And the sense of pride that he had uh almost makes me tear up. The sense of pride he had when those people took the keys for the first time in their house, and this is after World War II, he was building and you know, through the 50s and the 60s and the 70s, and the sense of pride he has that he left something standing. And then years later, he would take me in the car and he'd go, come on, let's go see the houses. What houses? The ones we built, you know, 15 years ago. And we drive around, and there's how there's streets on Long Island with our names on them. Because when you built a house or development, development pretty much, you can name the streets. You can name the streets. So this narrow lane and this South Street and all this other, this other stuff. And this the pride. So to me, in my world of managing money, I feel that pride by delivering the best results that I can for our investors and by never straying from what I've told them I was gonna do. No style drift, right? You this is what you say you're gonna do. And uh, so you know, I'm in the fixed income world. You didn't hire me to be your Bitcoin manager. You start going through the portfolio that I run for you when there's Bitcoin in there. That's that's that's not true. So you you do what you say you're gonna do and uh and you have pride in it. And that's sort of very much how I live my life and been really super blessed. Blessed to be welcomed down here in Florida by yourself and people like Jason Howe and just great people who are great family people who work super hard. And I love the you know the the privilege stuff. I mean, I'm not young, right, as evidenced by what I've explained to you. And I still work 18 hours a day. So I'd like to know where the privilege is. Right. The privilege is actually being able to do what I do and love what I do. That's the privilege. So anybody can have that privilege, right? You gotta just love what you do. That's the privilege.
SPEAKER_00I'm gonna leave it there because it was amazing why I did. Sal, if anybody wants to get in touch with you to learn more, what's the best way?
SPEAKER_01You can hit me up on LinkedIn or we have a we have a a website. Um Tip Tree is the holding company. But LinkedIn's probably the best way to reach out.
SPEAKER_00Sal. Amazing story. Thank you for everything you do in the community. Thank you for being you know a great friend to everybody, and uh congrats. I mean, you appreciate it. Um we're all blessed. Thank you.
SPEAKER_01We we are indeed. All right, thank you.
SPEAKER_00Gratitude. All right, everybody. Another great episode of Coffee with Cagneto with the Sal Narrow. See you next time when we get together again. Thank you.