#1434 Anthony Pompliano & Phil Rosen | Bitcoin & Stocks LOVE Donald Trump Right Now!

Phil Rosen, the Co-Founder of Opening Bell Daily, and Anthony Pompliano, Author of ‘How To Live An Extraordinary Life’ and CEO of Professional Capital Management, discuss Trump Presidency, why stocks are so high, bitcoin, risks, inflation, and how your investment portfolio will be impacted. ======================= Buy book: https://www.amazon.com/Live-Extraordinary-Life-Anthony-Pompliano/dp/0857199927/ ======================= Xapo Bank, the world’s first fully licensed Bitcoin-enabled bank, offers military-grade security with an unmatched blend of physical and digital security, as well as pioneering regulatory oversight, so your funds are always protected. Beyond secure storage, they enable you to grow and use your Bitcoin. Earn daily interest in Bitcoin, spend with zero FX fees using a global card, and make instant payments via the Lightning Network for unrivalled access and convenience. Visit ⁠⁠https://www.xapobank.com/pomp⁠⁠ to join. ======================= Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ ======================= View 10k+ open startup jobs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dreamstartupjob.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enroll in my Crypto Academy: https://www.thecryptoacademy.io/

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to the Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast. My goal is to help millions learn from the world's most interesting people. So let's get into today's episode. What's up guys? Today we've got an awesome episode with Phil Rosen. Phil is the co-founder and editor-in-chief of Opening Bell Daily. In this conversation, we talk about the new Trump presidency. What is he inheriting? Why are stocks so high? What's Bitcoin doing? And how is your investment portfolio going to be affected? In this conversation, I do

• 0:47Anthony Pompliano?

  my best to unpack what I think is going to happen, which assets I think are going to go up, how I see investors actually positioning themselves to benefit from Trump becoming president, and then we talk about some of the risks, including will inflation come back or not? All of that in this episode with Phil. So sit back, relax, and hear us out. Here's my latest conversation with Phil Rosen.

• 1:07Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 1:31Anthony Pompliano?

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• 2:13Anthony Pompliano?

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• 2:35Speaker 02

  All right, fellas, first topic. Okay, so Trump just won in a landslide against Harris, and I want to start with what he's about to inherit in the financial markets from the Biden administration. Right now, we have Bitcoin at a record high, the stock market is at a record high, gold is near a record high, and bond prices are crashing. With all of this said, what do you make of the state of markets that Trump's about to walk into?

• 3:02Anthony Pompliano?

  If you go back and you look at the last 50 years, every single president except for one has overseen a stock market that went up during their tenure. And entry price really matters. So if you start with a low price in terms of when you take over as president on the stock market, it's obviously much easier for it to go higher. Now, what I will say is the reason why the stock market is at all time highs, the reason why Bitcoin is at all time highs, is because people are waiting for, they're anticipating Trump to take office. So people are saying, let the good times roll. Well, I'm not going to wait for the good times to get here and then buy Bitcoin or then buy stocks. I'm going to buy it now when everyone else hasn't yet figured out that the good times are coming. And so I do think that in a weird way, it's kind

• 3:46Anthony Pompliano?

  of like, he's a victim of his own success, because everyone is predicting that he's going to be good for the stock market, good for Bitcoin, good for financial assets. And so they start to position themselves in anticipation. When he actually takes office, which will be in January, he is probably going to still have record high prices, and they're going to be higher than where they are right now. And so that just means he's got to be even better. But that's not unique to him. If you remember, when Joe Biden came into office, some of the stock market indexes were at all time highs as well. And so I don't think that this is necessarily something that is unique or never happened before. It's just, if you're going to be good for stock prices, if you're going to be good for financial assets, regardless of where you start, things got to go up into the right over the four years that you're president.

• 4:30Speaker 02

  Yeah, that I think that's true. And the Bitcoin jump on election night was one of the craziest moves I'd seen in a long time.

• 4:39Anthony Pompliano?

  It's a lot more fun going up than when it's going down that fast.

• 4:41Speaker 02

  Of course. Well, it hit 75K right away, I think. And that was pretty unbelievable.

• 4:46Anthony Pompliano?

  They say stairs on the way up, elevator on the way down. Not as fun on the way down, my friend.

• 4:51Speaker 02

  Well, I think from everyone I'm speaking with now about Bitcoin and stocks, everyone's very optimistic about these next 12 months here. Something that stood out to me is this jump in bond yields we've seen. And I think that's telling us that there are inflation expectations that are sort of creeping up. And maybe the Fed will have to cut rates less under a Trump administration. Did you look into this at all?

• 5:15Anthony Pompliano?

  So inflation is this kind of very weird thing, because first of all, what is inflation today? Nobody knows. The CPI number is wrong. Trueflation tells you a different number. If you look at money supply growth, that tells you a different number. We don't agree on what the actual inflation rate number is. And so immediately, the Fed is put in an impossible situation, which is look at a bunch of different data points, and nobody knows whether they're accurate or not, and try to make a decision today that's going to affect the future. So I don't envy being in that role. The second thing that I would say is Trump's policies, which are very pro-growth, pro-business, pro-investment, yes, can lead to some inflationary pressures. Now, the beauty is that if you actually deregulate

• 5:58Anthony Pompliano?

  some of these industries, if you actually are pro-technology, those can be deflationary forces. And so it can actually help to balance out. Take artificial intelligence as an example. If we see things like what Klavio, which is a publicly traded company who has started to implement a lot of AI in their customer service department, and they say that they have reduced, I believe, their customer service cost by 40%. If you're able to use a technology like artificial intelligence to create that deflationary pressure, now all of a sudden, your pro-growth policies actually can get negated out. And so you don't get that high inflation environment. The number one thing that Donald Trump can do to actually create massive inflation is to print money. And so if we have these huge fiscal packages, Where we're going to go and we're going to spend a lot, that's a big problem.

• 6:43Anthony Pompliano?

  But instead, what do we hear from the campaign so far? And their campaign promises, so it doesn't mean that they're going to go do it. But I interviewed Howard Lutnick. He's talking about, we're going to go slash $500 billion off of the annual deficit. Cause Elon Musk is going to come in and run the Department of Government Efficiency. Then they're talking about using the government balance sheet to generate another 1 trillion to 1.5 trillion dollars of revenue. So they can go ahead and cut into that deficit again, maybe even get us into some sort of slight surplus. They're talking about trying to cut actual tax receipts. Well, how do you do that? Well, maybe we need tariffs to actually increase revenue and replace it with what is that tax revenue? As you start thinking about this, it's a machine. It's a lot of complexity. Things are interrelated. So if you take one lever and pull it, you may affect somewhere else. So you got to understand that stuff.

• 7:26Anthony Pompliano?

  But I do think that deflation from technology in particular is going to actually end up allowing for some of these pro-growth policies that can really help to spur economic activity. Regardless of whether inflation is 1.5, 2, 2.5, 3%. What I do know is we are about to experience an economic explosion. Donald Trump, just by walking into the room, everyone starts thinking money's going to fall from the sky. He's done this his entire career and the people who don't like him, don't like to have this conversation because they like to point to, oh, this casino went bankrupt or this happened or whatever. You got a guy who is worth approximately six to seven billion dollars.

• 8:10Anthony Pompliano?

  He has made an immense amount of money for a lot of people over time. But why is it that when he becomes the president, stocks rip? It's because people realize if this guy's in control, if this guy's in power, if this guy's leading the American economy, things are going to go up in terms of asset prices. Doesn't necessarily mean things get better, right? Because if asset prices are going up and the dollar is being devalued, the people without investments, they're actually not getting better, right? Cause they're suffering at the hands of that devaluation. But when Donald Trump comes into power, people say, if you hold investments, things are going to get good. And that is before he ever implemented anything. That's the part that I don't think people realize is like, it's kind of like your reputation precedes you. Investors right now are trading on Donald Trump's reputation.

• 8:54Anthony Pompliano?

  And they're saying this guy is sending the stock market higher. Remember back in his first presidency? He was tweeting stock market prices almost on a daily or weekly basis. He was talking about when the Dow hit, you know, 3,000, 4,000, you know, whatever, the S and P, et cetera. He was tweeting at the central bank, telling them to devalue the currency or strengthen the dollar, et cetera. Like this guy thinks of markets. And one of the critiques of him was he equates the strength of the stock market as the strength of the economy. The stock market is not necessarily is a piece of the economy. And so you get into this, you say, okay, if everyone's going to trade on his reputation, he got to deliver, right? Because if he doesn't deliver, people are going to be net long, they're going to be out there, ready to take risk.

• 9:38Anthony Pompliano?

  And if he doesn't deliver, a lot of people are going to lose a lot of money. And therefore your reputation takes a hit, right? And people stop, stop believing that you're the pro-business, pro-investment guy. And it kind of unravels from there. I don't think that'll happen, but it is a risk.

• 9:51Speaker 02

  So one criticism I've seen Obama speak about was he gave Trump this great economy, this great market, all that stuff. And I think we will hear critics say that this time around because Trump is walking into a strong GDP growth. You know, everything's going up right now and the job market is solid-ish. I wouldn't say it's deteriorated, but it's solid-ish. And the Fed has already started cutting rates. To those people who would say, well, Trump's got, got an easy path forward because everything's good. What would you say?

• 10:25Anthony Pompliano?

  Well, right when you think that it's going to be easy and good times, you know, are inevitable. Obviously that's when you have the risk of a downturn. Now, the nice thing is, um, as an investor who is not worried about 30 years from now, but simply saying, under Donald Trump, what's going to happen? Donald Trump is not going to have another four years as president after he sits through this term. So we know that Donald Trump's political career ends four years from now.

• 10:56Anthony Pompliano?

  That means he is incentivized, whether it's good or bad, to devalue the currency, suppress interest rates, pump asset prices, and walk out the door in four years with all-time high stock prices, create tons of wealth on paper for investors, and say to everyone, "Look what I did", regardless of what the long-term impact is. Now, that's not unique to Donald Trump, because every politician pretty much thinks that way. It's just, "Hey, what's my time? How do I walk out the door with a good legacy?" But I do think that as an investor, do not underestimate the fact that Trump knows this is his last term. And so, he is likely to do things that are going to lead or increase the odds of higher asset prices when he leaves.

• 11:38Speaker 02

  Well, that's a very good point that I have not thought about, the four-year deadline Trump's operating under.

• 11:44Anthony Pompliano?

  I mean- He's got four years as president. He's also 77, 78 years old. So, I mean, the guy's got energy for days. So, maybe he's got 90, 95, 100. Imagine a world where Donald Trump is 110 or something. I don't know. But he's not 25. He's not 40. And so, I just think that there is this kind of natural, human incentive system that takes over, where if you're in your late 70s, if you know you only have four years, if you've run your entire campaign on, "I am going to bring back the American economy. I'm going to make it affordable. I'm going to bring down inflation. I'm going to create homes that you can now get access to. I'm going to shut the border. I'm going to do all these things." Dude, you go all out.

• 12:30Anthony Pompliano?

  Right? It's like the last hurrah. And so, I think that's where people say, "Okay, well, if you do that, then is inflation going to be a problem?" The wild card there is, can you actually use the deflationary forces of technology? You know, think of SpaceX and how deflationary it is for cost. It used to be 25, 30, 35, 50 million dollars, depending on the different rocket. SpaceX dropped the cost in the early days to like 6 million dollars.

• 12:56Speaker 02

  So, to me, it's ironic that Trump has essentially built an entire campaign on fighting inflation, because inflation hit 9% under Biden, and Trump said, "We're bringing it back down." However, his critics are very-

• 13:12Speaker 02

  You know, they keep pointing to he has inflationary policies, tariffs and deporting undocumented immigrants. If you had to take an over under on whether inflation was higher or lower a year from now, where would you go?

• 13:27Anthony Pompliano?

  Well, inflation is already elevated. And so if you use, you know, CPI or core, I mean, core is at 3.3%. CPI is at 2.4%. And so it's already elevated. So if it just comes back down to kind of their targets, then it would be lower. What I do think is an important detail is when Trump left office, or even go pre pandemic. He had been in office for three years and he had had a great economic policy in terms of stocks were going up. Everything was strong. You know, he's tweeting about it every day and inflation was under 2% before the pandemic. And so, you know, it's kind of like, hey, look like we've seen this play before. We know what he did. Now, does that mean he's going to do it again? No.

• 14:07Anthony Pompliano?

  But to a lot of the critics, my first response would be you actually don't understand how inflation works. Because those same critics are usually the people who are saying inflation was transitory. They were telling us, don't worry, we're printing trillions of dollars, but like inflation is not coming. Right? They're the ones who were telling us like, it'll be okay. It's just the prices will go up and they'll come back down. The prices didn't come back down. Inflation didn't come back down. And actually, the US dollar lost 25% of its purchasing power in five years. And so the critics might not understand how inflation works. And if Donald Trump already did this for three years before the pandemic and he didn't have high inflation, but he was still able to get economic growth, I wouldn't be so convinced that it means we absolutely are going to get higher inflation.

• 14:50Anthony Pompliano?

  And then if we do have higher inflation, who's to blame? Is it Trump or is it the Fed? You know, Fed just did a 50 basis point cut. They could be doing more throughout the end of the year. Who, who, who ends up being to blame? It's impossible to point one or the other. And so it's more about the machine than anything. But my guess is that we do not see the high inflation that people are worried about the next 12 months.

• 15:13Speaker 02

  We just saw a few years of, I would say, Republicans trying to blame Biden for inflation, and then Democrats blaming the Fed. And I bet that will flip if we see high inflation again.

• 15:25Anthony Pompliano?

  Of course, 100%. And, you know, one of the interesting things is, life is all about paradoxes. And so the Inflation Reduction Act was really the Inflation Creation Act, right? And you kind of go through all these examples. But the truth is, like, who created inflation? The Fed and the politicians. And so, politics in general is very partisan. Are you red or are you blue? Right? No, actually, the 9% inflation was red and blue. Like, it was both sides. They were both voting for the spending bills. They were both, you know, advocating for lower interest rates, et cetera. And so, you get this explosion. But of course, if you're running a campaign, draw the line in the sand, you versus me, you're bad, I'm

• 16:07Anthony Pompliano?

  good, people vote for me. And the American people, when they delivered a resounding verdict last night.

• 16:14Speaker 02

  So, something interesting about this landslide election was how critical the betting markets were. Kalshi and Polymarket, they were essentially calling the vote state by state way ahead of traditional media. What did you make of that, you know, that sort of new piece of the puzzle to this election?

• 16:39Anthony Pompliano?

  Free market capitalism wins again. Right? Polls are bullshit. Just call it what it is. Everyone's like, all the polls, like, dude, these people are literally just asking a bunch of people their opinions, and then coming up with some cockamamie proprietary model. And then they're like, look at how smart I am. Ann Seltzer, career's over, done. She's the woman in Iowa who's, you know, the Des Moines registrar or whatever. She's supposed to be this great pollster. Everyone was like, oh, she has Harris at plus 3 percentage points. Look at this. Oh, don't worry about the big red sweep, all this nonsense, whatever. The Emerson poll, the same people in the same area. Polling, we're at plus 10 Trump. So you have a 13-point spread.

• 17:22Anthony Pompliano?

  It ended up being like a 17 or 18-point spread because Seltzer was plus 3 and Trump ended up winning by 14 or 15 points. So you're wrong. And so what ends up happening is people will always do this. They'll say, "That one time you were right and everyone else was wrong. You're a genius. What do you think this time?" Same thing in investing. There are people who got the housing trade right, where they shorted the housing market in 2008. They haven't had a single big trade go right since. And people will still say to them, "Oh, here's the famed investor who got the housing market right. Great, you should get credit for that thing that you got right, but let's not make the intellectual error of extrapolating that and mean that you're always right."

• 18:04Anthony Pompliano?

  The prediction markets are much better because they look at real-time data and people are wagering capital. And anytime you get free-market capitalism at play, it is going to be more accurate because there is something that is painful on the other side if you're wrong. Skin in the game. Ann Seltzer has zero repercussions for basically not knowing how to do her job. If you think about it, right? How is it your entire job is to poll this one state and come out with it? And what's crazy is it's not like, "Oh, I was plus 3 Harris and it was plus 1. I was off by, you know, 2 points." Just take the real simple elementary view. You said Harris was gonna win and Trump won.

• 18:49Anthony Pompliano?

  Percentage points, all that, none of it matters. Just you were dead wrong. It's just kinda like economists who are like, "Oh, in October, job growth's gonna go up. After the revisions are done, it's gonna be negative growth." So your whole job is to spend all this time, energy, etc., to try to figure out, "Are jobs going up or are they going down?" Again, forget the magnitude of right or wrong, just like it's 0 or 1. If you say 1 and it's 0, I got a lot of questions, right? Like, again, it goes back to one of the things that Trump said, again, regardless of whether you like him or not, that I thought was very smart of him on the campaign trail. He kept saying, "I fired people who I didn't think were doing a good job. Who did they fire?" Which...

• 19:33Anthony Pompliano?

  A lot of people don't like that rhetoric because it's like, oh, people lost their jobs. I get that, right? There's like a social component to not wanting people to, you know, feel economic pain. But the point is, do you hold people to a standard or not? And if you look at areas in the economy and in society that are losing trust, there's no standard that they're being held to. So if you look at the most extreme mainstream media outlets, it's activism. They're not being held to the standard of journalism. If you look at the pollsters, name one pollster that got fired because they were wrong. If you look at Economist, it's just astrology, like these people are just making shit up.

• 20:14Anthony Pompliano?

  And so how is it that they all look at the same data point and they come to these vastly different conclusions? And sometimes they're right, sometimes they're not, eh, you know, let me lick my finger and put it in the air. And so when you look at that stuff, you're like, that's not how the real world works. That is a fantasy academic theoretical world that is literally created by people who want to feel important. The real people, take me or any other investor, I have an opinion, I put money on it. If I'm right, I win. If I'm not right, I lose money. Guess what? I do way more work than if I'm just pontificating about what I think something is going to be because I don't want to lose money. And so if you have a system where there's no repercussions and there is no punishment

• 20:56Anthony Pompliano?

  for being wrong, whether it is at your job, is it personal loss of capital or whatever, of course, people are not incentivized to be as rigorous as possible and they don't learn from their mistakes. And so I think that's basically what we saw in this election is that the people, the prediction markets, et cetera, that had skin in the game and some sort of punishment, they ended up being more accurate. Same thing with the Bitcoin investors. They're buying Bitcoins. They think Trump's going to win and they think Bitcoin's going to go up. If they're wrong and it goes down, they lose money.

• 21:28Anthony Pompliano?

  Or, "Hey, I ran my polls. I won't tell you what my model, you know, let me do some simulations. Uh, okay, Harris is gonna win." It's crazy.

• 21:36Speaker 02

  So I think someone who got a lot of heat on election night and the day after is this guy Nate Silver, who he's pretty famous as a pollster or reporter, whatever you call him, for this model that he has. And he said, uh, right before the election, "We ran 80,000 simulations. Harris won like 50.1% of the time or something." And, uh, it's exactly what you're saying. There are no repercussions to him being wrong. And I would, I would guess he has no skin in the game to the election like that.

• 22:10Anthony Pompliano?

  So here's the fascinating thing about Nate Silver. I actually really like Nate Silver. Um, 538, a blog that, uh, he created. I've read for years. I think very highly of it. Um, I think he's very smart. Uh, he recently came out with a new book. It's this nice neon green cover called On The Margin. Um, read that, thought it was very good, uh, tweeted it, was like, "Hey, this is a great book. You guys should go read it." He's super into poker. All this, like, big, big Nate Silver fan. Nate Silver, I think, suffered in this election from the classic data problem. Bad data in to any model gives you a bad output. And the problem with polling is people lie to you. If you go and you ask them, "What do you think?"

• 22:53Anthony Pompliano?

  Donald Trump broke all the models because people say, "I'm undecided." Or, "I'm voting for Harris." And they go in the ballot box, they take out their nice number two pencil, and they scribble in that little bubble for Donald Trump. And they look over their shoulder and make sure none of their neighbors are around. And they take that ballot and they go put it in the machine. And they go home and they tell their wives, "I voted for Harris." And they didn't do it. And they're gonna go and they're gonna talk to their friends. And down a couple of weeks later, they're gonna be having some beers. And one of them would get too drunk and say, ah, don't tell anyone, but I voted for Trump. And the other one will say, no shit, so did I.

• 23:35Anthony Pompliano?

  And next thing you know, the whole bar says, so did I. And that's how you get the landslide is because nobody wants to admit it to their neighbor, their wife, their kids, whatever. But when push comes to shove, truth wins. And I think that is honestly what happened is how is it possible that every single demographic voted more in favor of Trump than they did last time? How is it possible that he swung so many of these states? You ever seen New York flip red?

• 24:08Speaker 02

  Impossible.

• 24:09Anthony Pompliano?

  He came pretty close. He came pretty damn close. Think of what it takes to do something like that. And so I just think that if you are a pollster, if you're Nate Silver, whatever, we can yell and scream and say, hey, you're wrong, whatever. It's just a classic problem. You put bad data in the model and it's not your fault. It's just that you're asking about a topic that no one is going to tell you the truth about. And so if that's the case, all the models are rendered useless. But guess where it's not? In a prediction market, people put money in because they ain't gonna lie when they wager their money.

• 24:45Speaker 02

  Wait, I think at this point, people really got their first example of how accurate these prediction markets can be. And that makes me think, um, next election, we will have far fewer people relying on these polls. And hopefully that means fewer media outlets will be relying on the polls. Do you think, is there a future where we do away with polling altogether?

• 25:08Anthony Pompliano?

  Nope. I predict there's gonna be more polls in the future, not less. Because all the people who are polling now are gonna keep polling. Not gonna lose their jobs, not gonna give up their power, their influence. They get to go, uh, hang out, their family vacation twice a year. And they get to tell everyone, I'm a pollster. And that carries weight in the certain academic community, right? And there's gonna be a lot of people say, you guys are so dumb. Look how wrong you are. I'm gonna be the better poller. And so then they go and they create it. And so actually what you're gonna see is you're gonna see more polls, not less polls. If you go back in history and you look, we actually have more polls today than we used to have. There's more people, there's more information, there's more tools, there's more access to data, there's more people who can just spin up their models.

• 25:51Anthony Pompliano?

  And so the fact that the poll kind of takers and creators were wrong, means there's gonna be more polls, not less, it's gonna create more noise. But I also think that the internet can't be fooled. And the mainstream media, it's part of the business model. If every time a new poll comes out, you can write an article, you can talk about it on TV, you can hold people's attention, right? I joke, it's like astrology for men. It's like, oh, this one says this, this one says this, this one says this. Slap an ad on it, put it in the email, bam, put another ad. Oh, let's do a podcast off it. Follow the money, follow the incentive. The prediction markets don't care though. And so how is it that, literally, remember, people were talking about the fact that this was gonna be a close race?

• 26:34Anthony Pompliano?

  As people in this office know, ah, this is gonna be a landslide. Vibes, the vibes don't lie, but the polls do. And so why were they saying it's gonna be a close race? Do you really think that the Harris administration thought it was gonna be a close race? Trump cracked, I don't know if people really paid attention, but two days before the election, he was up on stage and he said something to the effect of, I'm not supposed to say this, but eh, you know, eh, we're doing real good in all the swing states, all the early voting looks real strong. He was winning in all of them. They knew that it was gonna be a landslide. There was a report on Twitter the night of the election that they were prepared to accept the nomination as president of the win after midnight.

• 27:19Anthony Pompliano?

  People were thinking, even I was thinking, maybe it's gonna take till Wednesday, Thursday, maybe Friday, whatever, to figure this out. They knew, this is a landslide, we're gonna clean house, not worried about it at all. Good vibes only.

• 27:31Anthony Pompliano?

  So if they knew, you're telling me that the mainstream media really thought it was a neck and neck race? Or is it better entertainment value to get everyone bought into this idea that it's a real close one, you better watch tonight? Oh, you're gonna want to stay up till 2 o'clock? I need you to watch for eight hours because you never know how it might go? Come on, it's all business, which is fine. Because guess what, I watched until, you know, 12:30. It was super entertaining. They had the guy Bill Hemmer on Fox, he was fucking hitting all the buttons, right? They had a guy on CNN, he was hitting all the buttons, they had the graphic, it was cool.

• 28:07Anthony Pompliano?

  But at no point was it as close as they all wanted you to think. And so I think that we just as American people got to remember. It's entertainment. That's fine. It's entertaining. So people watch. Prediction markets, Bitcoin, skin in the game. That's the signal. It's gonna be fine.

• 28:25Speaker 02

  So we're moving forward now under a Trump administration. If you had $10,000 to put in the first day he gets into office and you take it out on his last day, what does that investment look like?

• 28:40Anthony Pompliano?

  Triple lever DJT. No, I'm joking. Just kidding, just kidding, just kidding. No, I mean, look, it's very hard to predict. If I had to guess, you are likely to see maybe three different types of assets do well. I think Bitcoin is going to do very well. I think that small cat like Russell 2000 type, you know, index or whatever will do very well under a Trump administration. It did last time, right? He really performed well there. And then I think that technology companies are going to do very well as well. And so does that mean that they're going to perform the best? Impossible to tell. But I think what you're going to see is you're going to see deregulation.

• 29:25Anthony Pompliano?

  I think you're going to see FTC get changed around a little bit where there's going to be able to kind of in the mid-market and lower, a lot more M and A activity, et cetera. I think you're going to see the small caps benefit from monetary policy, cheaper capital, lower interest rates, all that. And then I think that Bitcoin, it's going, it's going up regardless. And the nice thing about Bitcoin is Bitcoin isn't competing with the long tail of crypto assets. Bitcoin is competing with the traditional market. And so, you know, right now Bitcoin's up like, I don't know, 80, 85% year to date. It's going up a lot real fast today. So who knows? Gold's up like 30% this year. Gold's having a monster year. But peanuts compared to Bitcoin.

• 30:08Anthony Pompliano?

  And so Bitcoin doesn't have to be better than Solana or Ethereum or anything else. It's just got to beat the traditional assets. And everyone will be like, wow, look at this Bitcoin thing. And so I think that Bitcoin will end up outperforming most of these traditional assets. But if stocks go up 20% a year, then Bitcoin goes up even 30% a year. It's still 50% higher return each year than stocks.

• 30:32Anthony Pompliano?

  Pretty good.

• 30:33Speaker 02

  So if I had to, I don't want to put you in a corner here, but I feel like you would say the same answer for every president, no matter who was coming to his office, you would still put that $10,000 in the same places.

• 30:47Anthony Pompliano?

  It's because the president doesn't matter as much for the investment portfolios people want it to. There are small things, like Trump would be better for, you know, Russell 2000 than Harris, et cetera. But Bitcoin is going to be successful regardless, right? And I continued to say this into the election, I continue to say it after the election. The Federal Reserve Chairman is way more important than who the president is for your investment portfolio. Your local city council is more important than who sits in the White House for a lot of things in your local community, right? Housing. What's the president going to do? Executive order, some small town in North Carolina and say, "You guys got to build more housing"? No. They're got to deregulate on a local level, right? And so I think that's

• 31:31Anthony Pompliano?

  the type of stuff that people, you know, it's fun to talk about who's going to sit in the White House. But more importantly, I think it's really going to come down to, what does the Federal Reserve do? Are they going to continue to cut interest rates? Are they going to continue to help the money supply grow? If so, currency debasement assets like Bitcoin, gold, stocks, et cetera, they're going up. And my guess is that they're going to continue to devalue the dollar. And so just like Paul Tudor Jones says, "I got gold, I got Bitcoin, I got stocks, I got some commodities. I got no fixed income." That's what he said. What do I got? I got a little bit of stocks. I got Bitcoin. Let's ride.

• 32:09Speaker 02

  Okay. Well, on that note, Pom, thank you so much for your time.

• 32:12Anthony Pompliano?

  Thank you for doing this. What's up, guys? I hope you're enjoying this episode, but I got a quick message for you. I just released my very first book. It's called How to Live an Extraordinary Life. In this book, there are 65 life lessons that I've picked up over the years. These lessons will teach you about money, investing, relationships, work, health, happiness, and much more. In this book, I wrote letters to each one of my children, and I tried to share those life lessons with them. If you pick up this book, there's three things that I can promise you. The first is That it is very concise. The audiobook is only three hours. You can listen to it on a long drive or on a rainy afternoon. The second thing is that you're going to learn something. It's worth the price of admission just for the lessons themselves.

• 32:53Anthony Pompliano?

  And then the third thing is it will make you think more deeply about your life and how you try to live it. So go pick up How to Live an Extraordinary Life today. It's a quick read. It's very impactful. It's very concise and it would mean the world to me for the support. Go check it out today on Amazon, Barnes & Noble, or wherever you buy your books. Hardcover, audiobook, it all works. Thank you so much for the support and I'd love to hear what you think about the new book.