PHILTER™ CFO Greg Garner
Can you tell us about your background, how you came to join Philter Technologies and your role?
I spent over three decades in the institutional investment industry as a Portfolio Manager and Research Director for a few firms. I managed equity funds, selecting companies for investments based on fundamental analysis. When analyzing small companies for investment purposes, many private company and startup opportunities crossed my desk. For several private companies, I helped them in their fund raising by authoring Wall Street-caliber reports to inform investors of the parameters for the company’s success. This is how I came across Philter Technologies. I was impressed with the technology, the clean air mission and the large addressable markets. Additionally, the experience and quality of the management team is high caliber, so when I was asked to join the team, I considered it carefully and came on as CFO. I also oversee operations and corporate strategy.
Did you have any reservations about joining an operating company after so much time analyzing companies for investing?
My only concern was that the initial addressable markets for PHILTER solutions are reducing the harm associated with smoking and vaping, and I do not smoke or vape. But I quickly came to understand the PHILTER story is much bigger than that. Human health issues from harmful airborne particulates remain present in a variety of settings – the home, healthcare facilities, industrial and commercial settings – and PHILTER’s technologies can uniquely address them at the source. There are a variety of sources of poor air, and if in an environment that is even partially enclosed, human harm is magnified. PHILTER’s technologies directly address this. The Company’s mission is focused on harm reduction, clean air and health enhancement. That was a big reason why I joined Philter Technologies.
With your investment experience, how do you perceive the investor climate in this election year?
It is common in election years to hear of investors delaying decisions due to the unknown of who will be the next occupant of the West Wing. And this year is no different. This decision delay mode can be sensible when investing in large public companies where investor perceptions may be impacted by economic policies. But for new technology companies that have solid growth prospects, the election results have miniscule to no impact on such a company’s future. When making investment decisions, it was easier for me to find these investment gems during election years because a significant number of investors used the election year excuse to delay doing their due diligence on new opportunities.
Essentially, an election year environment allows active investors to find private company gems that fit their portfolio parameters with less competition from other investors. We are observing both camps – those investors who are delaying decisions and those who seek unique opportunities that will succeed regardless of election outcomes. And when public market valuations are at such high levels, private company opportunities can receive more attention.
It sounds like you’re referring to a herd mentality, does that exist for investors?
There is definitely a herd mentality within the investment community. I found it important to understand the herd to know how best to work with it. Sometimes the herd is correct, but in election years, I found the herd mentality of delaying investment decisions created opportunities for others that were willing to do the necessary due diligence and make fruitful decisions before the election date. This is because the herd orientation creates less competition to get involved with new tech opportunities. And the availability of these opportunities can easily change when some investors place their funds. So now is a good time for investors to go through their due diligence process, particularly those investors that have a two-to-four-year time horizon for investment returns with a focus on long term growth.
What are your interests outside of PHILTER?
I have always been physically active in outdoor pursuits. I have spent much time in the backcountry with friends and family, either hiking and trekking in the summer or backcountry skiing in the winter. Ski resorts are fine too. I bicycle a lot and do water activities like kayaking, white water rafting, sailing, paddleboarding and swimming too. For years I led several youth groups (Sierra Club, Inner-City Outings, Venturing) on a range of backcountry outings but now just do that with family and friends. I enjoy creating beauty in a garden. And I’m a product of a large extended family that I grew up with in Michigan, and now that they are spread around the country, we have small and large gatherings several times throughout the year.
