Anthony Scaramucci, Founder of Skybridge Capital | What’s The New American Dream?

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Anthony Scaramucci is the Founder and Managing Partner of SkyBridge Capital, an alternative investments firm with around $10 billion in assets under management.

Scaramucci is the author of three books: The Little Book of Hedge Funds, Goodbye Gordon Gekko, and Hopping Over the Rabbit Hole, a 2016 Wall Street Journal best- seller. Prior to founding SkyBridge in 2005, Scaramucci co-founded investment partnership Oscar Capital Management, which was sold to Neuberger Berman, LLC in 2001. Earlier, he was a vice president in Private Wealth Management at Goldman Sachs & Co.

In November 2016, he was named to President-Elect Trump’s 16-person Presidential Transition Team Executive Committee. In June 2017, he was named the Chief Strategy Officer of the Export-Import (EXIM) Bank. He served as the White House Communications Director for a period in July 2017. Scaramucci, a native of Long Island, New York, holds a Bachelor of Arts degree in Economics from Tufts University and a Juris Doctor from Harvard Law School.

Show Links

http://www.skybridge.com/

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SUMMARY KEYWORDS

people, trump, crisis, skybridge, life, career, president, called, point, book, insecure, business, white house, richest, bought, pandemic, job, friends, thought, good

SPEAKERS

Anthony Scaramucci, Scott D Clary

 

Scott D Clary  00:05

Thank you so much for joining me on the success story podcast where we speak with incredible leaders and mentors and unpack their story. Very excited today to be sitting down with Anthony Scaramucci. Now, if you have been living under a rock, Anthony Scaramucci, has a numerous amount of accolades behind them. He’s the founder, co Managing Partner of skybridge capital. He’s the author of four books on he has several incredible rankings, including the number number 85, on worth magazine, most powerful people in the world of global finance. In 2011, he received Ernst and Young Entrepreneur of the Year award. And obviously, he’s somewhat famous for being the and serving as the White House Communications Director for a period in July of 2017. So Anthony, thank you so much for joining me. You know, I really appreciate it. And I just want to, you know, get get a little bit of, of where you’ve come from, and what sort of led you to, you know, the the resume you have today?

 

Anthony Scaramucci  01:10

Well, first of all, thanks for inviting me on and you’re being very kind, you could have mentioned that I got fired from the White House after 11 days, although I’m assuming a lot of people would have already known that. But the good news is, three years later, in hindsight, it looks like it was it was actually helpful to my career as opposed to as damaging as I thought it was going to be at that moment. But so my my origin story, I guess, is fairly typical. of people that grew up in a blue collar family on Long Island, I think I got lucky in the sense that I went to a very good public high school, had high grades, their high test scores, and going ended up going to Tufts University, which was a little struggle for my family, because my dad was a, an hourly worker, and we figured it out through a couple of jobs during the summer. And obviously, you know, student debt and different things like that. But I did well, at Tufts. I ended up going to Harvard Law School after tufts. And then my career started at Goldman Sachs, where I spent seven years in private banking. I left Goldman Sachs at age 32, which is a you know, when you’re talking about people success orcs, there’s a great line about entrepreneurs from Fred Smith, the founder of FedEx, he said, If I knew how goddamn hard it was, I never would have done it. And so, but entrepreneurs do that sort of stuff. And so I always wanted to be an entrepreneur, always want to have my own business. So I left Goldman, making reasonably good to great money there. And I started my business with a gentleman by the name Andy Bozarth, in December of 1996, and we got quite lucky, you know, the markets were in a roaring bull market. We frankly made a lot of mistakes. But there’s an expression on Wall Street, don’t confuse brains with a bull market. And so the market sort of carried us up. We did very, very well. We got a hiccup and a shock in 1998, with the long term capital management crisis, powered through that, you know, the current pandemic, you know, I’m into my ninth crisis on Wall Street. So I’ve seen this movie comes out in varying forms over the years, but we had a crisis in 98. We ended up selling our business about four weeks after 911. In 2001. We sold to a firm called Neuberger Berman. Neuberger then got bought by Lehman Brothers, I worked there for a few years. And then in March of 2005, I set up skybridge capital, where I have been less than 11 days in the White House. This has been my sort of prima facia responsibility. We’ve got 10 and a half billion dollars under management. We’re basically an integrated Fund of Funds platform for high net worth individuals. And we also have a pension advisory business. So that is, in a nutshell, my career. I’ve done some fun things as well. You know, I launched the skybridge salt conference in 2009. Coming out of the last crisis, I thought that was a great idea to sort of reconnect people. So that’s been a 10 year old conference. Unfortunately, we couldn’t have it this year. I had to cancel it because of the Bellagio Hotel where we typically have it is closed and so unfortunately, couldn’t get the conference done this year. But But that’s also been a lot of fun. And then I did something really neat. For your Wall Street aficionados that listened to you. I bought the rights to Louis Rukeyser Wall Street week from Maryland Public Broadcasting. And I put that on the air. Nobody wanted it and so I did it as an infomercial. And I sold advertising. I bought I bought 30 minutes of advertising on a Sunday morning from Fox Channel Five in New York. And then I sub sold advertising to my friends and colleagues in financial services. And then you know, the Fox Business Channel picked that up. When I went to go work for Mr. Trump as one of his executives in the transition committee, I sold that to the Fox Business Channel. So, so it’s been a fun, it’s been a fun career. I got into politics very accidentally. I would say that when I came out of law school, I didn’t really have a big network. I didn’t know a lot of people that weren’t wearing what I would call greenies. You know, that was my father’s outfit when he went to go work. And so, you know, I didn’t have any I didn’t have a white collar experience. So I got myself involved in politics, I wrote my first check to a politician in 1989, to Rudolph Giuliani, how about that? He unsuccessfully ran for mayor in 1989. But I was out there as a young Republican raising money, and it helped open up a lot of doors for me.

 

Scott D Clary  05:57

I love I love the story. And what I love about your story is, is the diversity. And I think that a testament to why you have been successful and not like really not just blowing smoke is seriously because you just go after things. Like you know, I didn’t bring up the 11 days in White House. I think most people are aware of that. But I wanted to let you tell your story. Because I think that even just jumping into that is very admirable, because not a lot of people that would feel comfortable just stepping into a position like that coming from really not a lot of political background. So what like what makes you jump into something? How do you evaluate opportunities? What sort of pushes you in new directions that You’ve obviously done repeatedly over the course of your

 

Anthony Scaramucci  06:39

career? Well, well, I would say specifically, the White House job that was a little bit too much idealism. And I didn’t really understand the world of politics, I would say that, unfortunately, you know, my parents are great people. They’re still alive, thank God, but they were not well educated. And we didn’t have a very good understanding about how the real corporate world or the real political world works. And for your listeners, you can’t read that in a book. You can’t read a history book and say, Okay, now I have a good sense for how Washington works. We can’t read about Goldman Sachs and say, Okay, now I know how that works. And so for me, a lot of the stuff that’s happened to me in my life has been a series of trial and error. I went to Goldman Sachs, my first job interview, I was in like 100% polyester. I bought the suit from sai Simms. I think my shirt was 100% Poly. I mean, I was fully flammable at my first job interview. And so the guy basically was very nice. He’s like, look, you’re a smart kid. But you’re the worst dressed person that we met at the Harvard Law School. And so I had to make that adaptation. And I had to go buy a real suit before I went down for my callback interview. I would say in the world of politics, I was reasonably good as a fundraiser. But I was absolutely terrible as a political operative, because I didn’t I didn’t really understand the lack of morals, the lack of scruples, the ridiculous backstabbing. I mean, I did watch the House of Cards. But I didn’t realize that they had the House of Cards, screenwriters get together with the Hunger Games screenwriters. That wasn’t enough. So they added a little bit of Veep. And then they threw in the Game of Thrones, you know, and all of a sudden, they shook all that up. And you got all this nasty, crazy nonsense. So I was ill prepared for that. And so I would tell people, you know, if you’re a political fundraiser, you’re probably not the best suited to work inside the White House, you’re probably going to need to have some Washington like establishment experience, or be the president’s son in law, something like that, because it’s not, it’s not the right fit. But but you know, to your point, I’ve thrown myself into things that really didn’t have any choice. If I wanted to be successful in wanting to live some level of the arc of the American dream, what do you got to do? You got to start your own business. You got to create a clientele, you got to manage and recruit very solid employees. You got to think creatively, you got to expect that the stuff that you’re doing is not going to go well. You know, Mike, Mike Tyson says, Yeah, everybody has a plan and they get punched in the face. So I just want you to imagine my business in 2008. It was three years old skybridge capital. We’re going through the financial crisis, where the US markets are taking down 55% And we’re sitting there the brand new business three years old, how did I retool it, how did I change it from what it originally was going to be? And so what I would say to people is you’ve got to be adaptive you’ve got to be fluid you’ve got to recognize that your life is a series of plans and reason why God put an eraser on the end of a pencil you got to erase those plans and and go into redrafting constantly. Even today with the Coronavirus and the COVID 19 pandemic, you know, our business is suffering. But you know, guess what, 4 billion other people have had this sort of transition and dislocation. So the number of people that live in the northern hemisphere of planet Earth, and so everybody are a good 75% of those people have had some level of disruption in their lives. So I would, I would tell people, it’s your attitude that’s going to make or break your life and your career. And so, you know, attitude, not to sound cliche, but it always starts out with gratitude. You know, I wake up in the morning and say, okay, not the richest, probably not obviously, not the smartest, but I got a good things going for me, how am I going to look at today in the most positive way possible, so that I can lead my company, inspire the people that are working with me, and also, you know, reach into and magnetize my clients that want to be with skybridge through its ups and downs, whatever those ups and downs may be. And so but I think the big learning lesson is that, you know, it takes a long time to turn yourself into success, you know, that that cliche that an overnight success is 15 years, I think that’s basically true. And so you just got to stay at something and never quit, I find that the people that have lackluster careers, or they have mediocre things, they meander, and they try to day trade their careers, not going well. Okay, let me get out of this thing. And let me flip into something else. Oh, wait a minute, that’s not going well. Okay. Let me flip into something else. Well, the truth of the matter is, things go up and down. I mean, they don’t, they don’t always go well. And it’s the way you grind yourself forward, when things are not going well, that are ultimately going to define your career. And of course, you look you always get GM waivers in a crisis. I mean, I’m always I never know who they’re going to be. But you know, when you’re in the OK Corral, and you’re ready to draw guns, and you got to shoot the other guy in the head, I always watch like, during a crisis like this, or the markets are in crisis, you always get gun ravers you know, in a crisis, they start waving a gun, they can’t hit the target, they get nervous, they get upset. But you know, I tell my, my friends and colleagues and my clients, hey, I started with absolutely nothing of I got to go back to a white t shirt in a one room apartment with a rabid your television, and the six pack of Schlitz watching the Mets, I am just fine, I have no problem doing that, if that’s where I have to go. And if you start thinking like that, you can be way more clear headed about your decisions.

 

Scott D Clary  12:40

I think that I like that analogy a lot. Because I think that you get to the point and you it’s funny because people do get to success at some point in their career, and you hit on like a ton of good points, and they’re not going to just rehash them all. But yeah, you spend enough time doing something you will be successful. You see the people that hash something out for 10 years, they’re generally doing pretty well. But I think the concept that it’s okay to fail, even after a certain point of time committed, like if you have that personality, that’s like, you know, you’re just gonna nose to the grindstone and keep going. Like, it doesn’t matter what happens at the end of the day. And I think that there’s a lot of fear and a lot of fear mongering that leads to people stressing for no good reason. And it’s almost like having these knee jerk reactions and it hurts, obviously, everybody, but it hurts when it’s like the leaders that are having these knee jerk reactions to their businesses and, you know, furloughing their, their entire organization or whatnot. And it just causes it causes more stress and anxiety. And I’m sure you notice it. Like when I walk to the grocery store, for example, now, there’s no I’m in Toronto, Ontario, Canada is actually doing quite well, in comparison to the US right now. I’m like, marginal amount of cases, but you walk to the grocery store, and people are just aggressive and stressed out. And it’s really like, everyone just has to chill out a little bit. Because things will be better. But I like the way you put it. Like if you’re okay, building yourself back up, you’ll be fine. That’s really good.

 

Anthony Scaramucci  14:03

Yeah, well, I mean, you know, I think I think that’s the point. You know, I don’t know anybody and I’m sure that you’re interviewing a lot of people. And if someone’s coming on, I would love to meet the person says, hey, you know, my life started out great. I was born under a rainbow. There was a pot of gold there. My parents were completely functional. They did everything perfectly as I was raised. Then I got perfect grades in school. And I went on and started my career and my career went up in a trajectory of 45 degrees to greatness. And that’s, that’s my life. You know, Michael Dell helped me get my business started at skybridge. He was one of my earliest investors. And he said something to me that I will never forget. And it’s worth repeating here. He said, you know, Anthony, I had to make 8000 decisions. When the business got sorted 1984 through probably 1992 and make 8000 decisions and I had to go, you know, 7900 for 8000 Yeah, of course, they make some bad decisions, but I had to really make a lot of really good decisions for Dell computer to become what it ultimately became. Because you know, there was gateway back then there was Compaq, there were other mail order computer companies, but Dell Schmeisser at all of them. And there were a lot of different things that went wrong for him, you know, he, he had a laptop that was catching fire, his 1993 product cycle, stock went down 70%. And the the the company needed equity capital and a convertible bond to help Greece establish its product cycle. And so, you know, I helped them get that done in 1983. And, of course, he went off to the races from there, but, but there’s a guy, one of the richest people in the world amazing guy, and obviously built in an unbelievable global brand. But there’s a guy who, you know, was on his knees, and brought himself back from the darkness. And you know, Bill Gates, you know, look, he’s a amazing guy, arguably one of the riches at one point, the richest person in the world buffers charitable giving. And he had a hard time getting that business up and running. He, he failed in the operating system. He borrowed $30,000. From his dad, he bought digital researches operating system, it was called Dr. Das. He made him and Paul Allen made some changes to it. And, and rebranded MS DOS. And the rest is history. He goes on to become the monopolist for the operating systems of most of the hardware in the world. So my point is, is that your you can’t look at your life and expect it to happen a certain way. You have to say, Okay, I’m going to be successful no matter what. And I’m going to keep plugging away no matter how many times I’m told no, you know, just remember this No, spelled backwards is on. Somebody is telling me no, it’s turning me on. I’m sitting there saying, Oh, wow, the guy said, No, I feel rejected. Let me go put my head in cold water. Let me put my sheet over my head. I’m not going to get up tomorrow morning. I just got rejected by somebody. I’m like, What? Are you kidding me? Let me make another 15 calls. And life is also a statistical outcome. And I don’t want to use a baseball analogy, but I think it’s appropriate, I’m going to use it anyway. If you go three for 10, and baseball, you bet 300. And if you do that consistently, you can make it to the Hall of Fame, you only have to have 30% of the time you’re at the play, you get a hit. But the great thing about business, you have unlimited at bats. So example like if you’re a great salesperson, and you’re going one for 10 and I suck as a salesperson, and I’m going five for 5000. I’m five times better than you. Point being is that like you know that persistence, that doggedness, that intensity is going to power you through even if you’re not the most talented person, you know, but that person going one for 10 in sales. That’s amazing. I’m five for 5000. You know, the averages suck, but I’m five times better than the guy that’s not trying. Does that make sense?

 

Scott D Clary  18:23

It makes a ton of sense. Now, the attitude like your attitude is 100%. Like we’re aligned in what it takes to be successful. Now, I’m curious. I’m sure I’m sure I know the answer to this. But you had the same attitude going into your career as the White House Communications Director. What what did you discover working in that administration? Because you mentioned like, it wasn’t you didn’t you couldn’t prepare yourself for it. It wasn’t like what you knew before. So what did you sort of unearth? And

 

Anthony Scaramucci  18:53

well, yeah, I was I was I was completely out of my element. So I didn’t have a frankly, I didn’t. It was an expression of Washington. You know, Harry Truman said, If you want a friend in Washington, buy a dog. Because you don’t have any friends in Washington, you know, in business, totally different. You do have friends. In Washington, it’s all about that individual’s interests. And it’s all about what are they going to do to achieve that interest. And if they have to stab you in the eyeball while they’re smiling at you, they’re going to do that, you know, and that’s, that’s Washington. And so, for me, I the President asked me to be his OPML director. And so that was a really good job. For me. That’s the Office of Public Liaison, I would have been as chief networking officer. And so I talked that over my wife, she didn’t want me to take it. I mean, she probably hates Trump almost as much as Melania hates him. I mean, I don’t think she hates it as much as Melania. But it’s like right at the top there, you know, so she didn’t want me to go anywhere near the guy. And I said, No, he said, the United States and I’m a Republican, he’s asking me to do this. So I’m going to go, I’m going to go and do it. And then you know, Ryan’s previous and Steve Bannon for what whatever reason they did not want me in that job. And so they started, rather than just saying, you know, rice previous could have just said to me, Hey, man, I hate your guts. I don’t want you in that job. On the White House Chief of Staff, I would have said, Okay, that’s cool. I’m not even gonna come to Washington, I’ll just stay at skybridge. But they did all this obfuscation. And then they did a APO drop on me with an APO drop, they, they dropped the story in the press, insinuating that when I put my company up for sale, I was selling it to China, because I was going to become this de facto, like secret agent for China and become their lobbyists inside the administration. Which is like total nonsense, right? So it sounds crazy, because yeah, but that’s what they do in Washington. So. So then I got on the phone with the President. And I said, Hey, these two guys suck, just let you know, they’re very bad guys, at some point, you’re gonna want to get rid of them. I got the fact that they’ve knocked me out of this job, no problem. But let me just say this, if you are getting, you know, tired of them, which I predict you will give me a call, I’ll take care of it for you. And so it all happened very quickly. He called me. Next thing, you know, I get named as the communications director. And I said that a president, that’s not the best job for me, you know, the other job would be better. Well, that job is open. It’s available. It’s in the West Wing. Come work here. And there was a degree of impetuosity there, I would say this to your listeners. Don’t let your pride and your ego get into your decision making don’t let it get in the way of your decision making. And so what happened to me is previous and banned and blocked the job. I put my ego in it. The President called me to go take those two guys out. And so I went in there with a vengeance. And I made a lot of mistakes while I was there, and I didn’t build enough of a coalition and I didn’t, I was too trusting. And so I got on the phone with a reporter. I made a joke about Ryan’s previous and Steve Bannon. He recorded it, he ran to CNN with it. I thought it was off the record. He said it wasn’t okay, big deal. And so that embarrassed the president, then John Kelly fired me and so, so, but you know, the good news is I got previous and Bannon out of there. So I think that was a great service to America, especially with Ben and I mean, you never met a more, you know, wacko, I mean, with the whole nationalism and the white national ethno, centrism, and yeah, a lot of nonsense that he

 

Scott D Clary  22:31

comes over here. I don’t hear it as much as you do. And but I still hear it. Yeah,

 

Anthony Scaramucci  22:34

I mean, thank God. I mean, I mean, I think if I made any contribution to the American society, or the Western canon of liberalism, in my short stay in the White House, when my suicide vests was going off at Knock Steve ban, and it depends of any avenue, so I think that was a, you know, an accomplishment for mankind. But we’re human kind. But. But the point being, I had my ego in there, I had my pride in there, I made a foolish mistake of trusting somebody, they use that against me. I got summarily fired. And so for me, I was like, Okay, no problem. That’s 100%. My fault. I’m fully accountable for it. John Kelly, and I have actually become close friends thereafter. And I tried to stay loyal to the President. But when he continues on the path of what he was doing, was like impossible to stay low if you have a rational point of view about life. And you’re listening to the nonsense and your lizard watching the Twitter screens, and you’re listening to all the lies, and you’re listening to the confusion and the mismanagement of the executive branch. And you know, Michael Lewis really wrote about it in his book, he wrote a very, very interesting book about the I guess it’s called the third or fifth risk, maybe is called the fifth risk. And what he wrote about was men, you know, Trump is coming in, totally ill prepared to take on the executive branch, he also doesn’t have the right management skills. He’s going to blow up the executive branch. And so if there’s ever a crisis, he’s going to immobilize that part of the government, they’re not going to be able to effectively handle the crisis. Yeah, we got

 

Scott D Clary  24:14

the risk, and just look, so we,

 

Anthony Scaramucci  24:16

Yeah, I read the I read the book two, two and a half years ago. And so that book is very telling of what’s going on right now. I mean, we probably could have avoided a lot of the economic damage and a lot of the deaths if they had acted more quickly, but you know, they’re afraid of him. He lights up these people with these tweet storms. I mean, he did it to me. I mean, you’ve never felt more alive than when the President knighted states is calling you a unstable nutjob on Twitter. I mean, you know, I mean, so it’s totally fine. I thought it was fucking funny. I went, of course, I went after him because I’m a New Yorker. And I’m not going to let a guy do that to me.

 

Scott D Clary  24:57

Then you wouldn’t be in New York. And then

 

Anthony Scaramucci  24:59

of course, And then he went after my wife, which shows you what a little lightning guy is, right? So that’s, you know, you’re going after my wife and your presidential Twitter feed. Okay? What do you think I’m going to do you think? Do I look like Ted Cruz to anybody? I mean, what are you crazy? So I’ll keep punching the league. It’s not through the ropes, but he’s doing a good job on himself. I mean, he’s, he’s very self destructive guy. And I think he’s heavily damaged himself, even though he has reasonably good approval ratings related to the crisis in the aftermath of this thing. I think people are really going to come to understand how much damage he did to the economy, and how, how difficult he has been as a leader. And I think there will be in this next election cycle of return to some level of normalcy, whatever you think of Joe Biden pluses or minuses of him. He’ll probably surround himself with some normal operating people and not this sort of Kleptocracy, and this sort of nepotism and so

 

Scott D Clary  25:55

yeah, that’s my question. Like, why can’t you know, I totally understand, but why couldn’t he just like lead by Advisory Committee? Why was that because everybody knows that. Trump is not an expert in in everything that you know, he’s trying to manage and lead and died, so why why not?

 

Anthony Scaramucci  26:13

Secure? No, he’s, he’s wildly insecure. And somebody told me that a long time ago, you know, like one of my buddies is friends with them. He invited his mother the MAR a Lago, Trump pulled up with two Ferraris. And this like, 80 year old Italian grandmother was like, Donald, why are you so insecure? I laughed. I thought that was like funny. And I told my buddy, I said, how can he be insecure? He’s got tons of money, unbelievable. Real Estate and file is how, how’s it going like that insecure, but then when you meet them, like, Okay, wow, this guy is maniacally insecure. That’s why he’s trying to compensate for it with all the blustering and like, I’m smarter than my generals. I’m a very stable genius. I know more than anybody here. You know, I know a lot about this pandemic. My uncle was a genius. And so therefore, I’m a genius. I mean, you know, I mean, stormy Daniels basically, I was on the Bill Maher show, she basically told me it was like, the size of a shittaka mushroom. I almost threw up on my mouth when she told me that I was like, disgusting. And then, you know, I haven’t been to a Chinese. I haven’t been to a Japanese restaurant in two years. And stormy told me that, but then right then and there, you’re like, Okay, I get where this guy’s coming from. He is maniacally insecure. It could be issues related to his dad, his physicality. And so this is why he actually does and that’s why you can’t work with Trump and expect him to treat you well. And you can’t expect him to take your advice. And if your listeners want to hear him, you know, read an amazing book is very accurate. There was a book written, called the very stable genius. And Phil Rucker wrote it was a woman that wrote it alongside of him, I just No feel better than her, but is very accurate book. And it just talks about how he couldn’t take any advice from any expert. He felt insecure in their presence. And if they told him something, he would almost do the opposite of it to prove or try to prove that he knew better than they did. And that is that’s that’s how it goes. That’s how it rolls with Trump, you know? Yes.

 

Scott D Clary  28:21

I said, That’s a dangerous personality when you’re when you’re charged with with the country. That’s

 

Anthony Scaramucci  28:26

Yeah,but I mean, but here’s the thing, okay. Remember, remember, remember this, he’s dangerous. But he’s got willing acolytes, okay, I went to go work for him. Because I’m a naive, you know, son of a construction worker. I had, I’ve lived a very large part of the American dream, and I’m like, fighting with my wife. I mean, my wife and I filed for divorce was working for him. We subsequently reconcile, but it was like, I was doing it because I thought, Oh, my God is the American dream. I get the chance to help people public policy, all this stupid idealism. And I got caught in that crossfire. And, you know, listen, it was humiliating. It was humbling. I got a very big come up in. But the flip side of it was it gave me a platform, you know, it made me a little bit more well known increase my public profile. It’s made me somewhat polarizing, because my 27 year old son, who’s at Stanford Business School is like, hey, pop, you’re killing me because the Republicans hate you. Because you are blasting Trump and the Democrats are never going to accept you because you were with Trump. Now you’ve put me in political nowheres land and I’m like, boy, AJ, my son’s name Ali, AJ, maybe I’m getting closer to the truth. Point being I don’t actually care. I mean, you get old enough in your life. You know, this is a very important lesson and it’s a very hard lesson to learn. And it even at my age, it is hard to practice. But when you can get over the hump of not caring what other people think of you and what other people think View is none of your business when you can get to that point in your life. It is an amazing level of freedom. You know, I put stuff up on Twitter, but I don’t really look at the reply, I take care less. I shut the notices off on my phone. My attitude is some of its robotic and nasty, and some of it is keyboard warriors that are bullies and who cares? It’s just when the President’s coming after me, then I got to go back at him and get to smack them up a little bit. Because why wouldn’t you do that? Right.

 

Scott D Clary  30:30

I don’t think a lot of people have to deal with that problem. But

 

Anthony Scaramucci  30:33

Yeah,but I know what a baby I know what a big baby is, you know, at the end of the day, he’s like, big time, coward. You know, just take a look at one of those clips when like, you thought somebody was rushing the stage, how he was like, running off the stage, you know, that guy. I mean, this guy’s never been in a bar. I mean, it’s Anderson Cooper, when I was at, wow, this is like, you’re having a bar fight with the President. I’m like, I’m at a bar fight. This guy has never been in a fight in his life. Anderson, you know, he’s never been he’s ever been in a bar fight. By the way, it’s not a bar fight. I’ve dragged the guy out into the street, you know what I mean? But but the point, the point is, is that, like, you know, this is the nonsense that we’re living with now. Because myself included, and I’m responsible for this, as is everybody that voted for him. And I went to go work for him. You know, we bought into something that really wasn’t there. But at least I’ve been able to tell the truth and the least I’ve been able to say, Hey, this is this sucks. You know, and, and, you know, think of it this way, if you were hiring this guy, as a CEO for your company, and you were on the publicly traded board of that company, like, I’ve got to get rid of this guy, guys, bad shit, you know, he’s crazy. We got to get rid of them.

 

Scott D Clary  31:41

I think, though, you see those swings back and forth, you see, you see, you see, right, like right wing, left wing leaders and they go too far, they go too deep into into what they want to represent, then you see the opposite end and the next vote or the next. You know what I mean? Like that’s, you see that a lot, I think, the smartest voting decisions either both ways.

 

Anthony Scaramucci  32:01

He’s gonna throw $10 trillion at this current pandemic problem that may help them come election time, but you look at the data, it is overwhelmingly against them. I mean, his numbers are incredibly soft. Many of the Republicans are rejecting what he’s doing now. And a couple Tuesday’s ago, Super Tuesday, three, you had 500,000 additional Democratic voters in the state of Michigan. For Joe Biden, and, you know, if you’re on the President’s campaign, you have to be alarmed by that. You can’t be looking at that saying, oh, that’s, that’s a good sign very far from it. You know, yeah, well, so. So we’ll see, we’ll see what happens. It’s a long way away Joe’s last step. Trump acts crazy, you know, I don’t know, it’s just the best that America has to offer. I don’t know. But we’re here now. And we’ll see what happens. But, you know, for me, it was a learning lesson of a lifetime. And if I could share anything with your listeners on your podcast, don’t put your ego into your decision making, you know, take your ego and your pride out of it. And when the handwriting was on the wall, that those guys didn’t want me to work in the White House, I should have listened to my wife and stayed away from it. And you know, and that’s ultimately the facts. Now, it happened and it went in a certain direction. And I have absolutely no regrets. It was a learning lesson of a lifetime. But I can tell you, when I’m making the decisions, whether it’s my investment decisions, my personal decisions, my professional decisions, when I’m taking my pride out of it, to my ego out of it, I’m doing a lot better.

 

Scott D Clary  33:36

Good. No,that’s good advice. Um, what are you? So what are you into? Obviously, skybridge. But you you wrote the book, Trump blue collar president? Obviously, you’re still involved in investments and whatnot, through your through your firm. Yep. So what else? What else is next for you? Or what are you working on on now post?

 

Anthony Scaramucci  33:58

Well, you know, I’m working on my firm, and I wrote the book, the book sold very well, thank God. And it was a very fair book. It had pauses of negatives of the president positive and negative may he didn’t like the book, because, you know, he needs though those sorts of books to be 125% in favor of him. But I mean, that’s fine. But I mean, it was a very objective book about what happened the plusses and minuses of what happened. And, you know, I went after myself in that book as much as I went after other things that I saw so so you know, if you’d have a moment, it’s a fast read. But and I’m happy to send you a copy if you have an interest. But the for me right now. I’ve got my asset management company, I’m going to restage my conference business once we can get out of our homes. And, you know, I see tremendous opportunity in this current crisis. I think we’re going to be roaring I think the economy is going to roar after this is over. You can’t hit the economy with $10 trillion of stimulus and not expected to have a huge kick up after this thing. So positioning the firm take advantage of that. And we’ll see what happens. You know, I’m good friends with Chris and Andrew Cuomo, I sort of grew up with those guys, they do Chris a show twice a month for CNN. And, you know, we sort of you know, that the the information I’m getting was sort of be open, fully open sort of mid June here in New York. And I think the summer is going to be a surprising upside summer for people, I think there’s a sense of appreciation for what they had prior to going into quarantine. And just like after the to the 100 year old or 102 year old 1918 pandemic, people are think we’re gonna come out of their houses exploding with a lot of consumption.

 

Scott D Clary  35:52

I think that I will, I hope that obviously, there’s a huge upswing after this is all said and done. And you’re the you’re the finance guy. So you have the insight into that. But I would love to love to understand what do you think in terms of, I guess the way we do business, you think there’s anything that’s going to change coming out of this, and it trends that have sort of been permanently changed industries, that kind of thing, just your your insight as to what you see?

 

Anthony Scaramucci  36:18

Well, I mean, you know, people are saying commercial real estate is going to change because people are working at home, they don’t probably need as much space as they originally thought. And retail is changing. We’re more habits are being developed of home delivery, and telemedicine may change some of the ways people practice medicine. But I think, by and large, we’re gonna more or less go back to a lot of the things that we we did before, you know, I like in particular gaming stocks a lot, because unless you think that human nature is changed, and we’ve got 5500 years of human nature, that dictates that it hasn’t. And I’ll take you back to the 2008 crisis, they were down 90% are down 80%. Right now, those casinos are closed strip is closed. But I think people are going to be back. You know, and I think that they’re going to be I think they’re going to be a I think it’s going to be a explosion to the upside. And so we own a lot of the high yield debt in gaming, whether it’s Caesars or MGM. And, you know, we’re taking a contrarian play to where these things are trading at right now. And,

 

Scott D Clary  37:30

and the one thing that I wanted to, I want to, I want to close up because I just want to respect your time, but and I want to also just ask a couple sort of like life lesson insight questions that I really love drawing out to people. Was there anything that you know, we didn’t discuss that you sort of like taken on over your career that you wanted to bring up this important topical to you? Because if not, then I wanted to ask them closing?

 

Anthony Scaramucci  37:55

Well, I guess I would just say one thing, I would say that we try to solve these problems, these economic problems by taking the easy way out. And so our last economic crisis, we said, Okay, we’re just going to flood the marketplace with monetary stimulus, we’re not gonna have a jobs program and infrastructure plan, a plan to right size, our educational system, we’re not going to do any of those things. And so what ends up happening is the interest rates go down, liquidity enters the markets, the markets go up. And the people that own the assets get way richer, and the people don’t own the assets, they get frustrated, and they get angry. And so they’re very weird way. The monetary policies implemented after 2008 created the rise of nationalism and the rise of populism because it really did widen the wealth gap or the, you know, the divide between rich and poor. And I’m just hoping and praying that we don’t do that, again, here, it seems like there’s enough going on in terms of a main street stimulus, and a Wall Street stimulus where we won’t do that. But I really hope we don’t do that. Because we have to figure out a way to solve for that and dial down the anger and get more focused on what works, you know, less focused on left and right wing extremism, less focus on left and right and more focused on right or wrong as it relates to policy implementation. So anyway, I just wanted to bring that up, because I think it’s very important that we start having smart people talk about it that way, as opposed to the nonsense we see on cable, cable news.

 

Scott D Clary  39:32

Do you see like, you know, not to go to that’s a huge topic, but do you see do you see any  momentum like moving towards smarter discussions and less, you know, like, dog like, like, like, he’s, like, far right far left leaning, cable TV, election debates and whatnot that really are not conducive to anybody’s actual life.

 

Anthony Scaramucci  39:54

You know, now with Trump, you’ll never gonna get there with Trump, but hopefully you can break the fever of Trump His demagoguery. And then you can probably get back to people are going to probably be exhausted from all that nonsense. Maybe you can get back to something that’s more sensical and more, you know, about, about good policy, you know, and again, if you want there to be fairness in the society, and I’m a capitalist, as most people are that live in the West, you know, you got to have some fairness, though, you have to create a platform of equal opportunity. And so the government should help trying to create that platform. So if you grew up like I did, my parents weren’t educated. But I got very lucky, we lived in a town that had a really good public school system. You know, if I grew up in an area where the public school system wasn’t any good, maybe it wouldn’t have created that arc of intellectual education and that spark of intellectual curiosity that led me to Tufts and Harvard. And so I often said, Well, geez, you know, your, your, your, a lot of the stuff that happens to you in life is providential, you don’t pick your parents, location of your birth, you don’t pick your brain chemistry. But you know, we should really try to figure out if we’ve got people that can excel, even if they’re not born in affluent areas, or they’re not born to, you know, certain types of parents. Can we help them create a platform of opportunity and aspirational opportunity? And I think we got to work on that. Now. I think I think that’s, that’s the big challenge for the next 20 years.

 

Scott D Clary  41:33

I think that’s also I think that’s the the reincarnation of the American dream. So the original American dream is to see, but I think the reincarnation is to give people the opportunity to succeed. Yeah, I like that a lot.

 

Anthony Scaramucci  41:46

I agree with that. wholeheartedly. Amen. I appreciate all the time you spent with me, thank you very much. It’s, uh, you know, let me know when this goes up, we’ll put it up on my social media. You know,

 

Scott D Clary  41:57

I appreciate it a lot. I want to ask, can I ask you one, one last question that I asked everybody if that’s it? That’s all right. Well, actually, sorry, it sets you up for questions. The first one. The first one is one lesson that you would tell your 20 year old self? That’s the first part. Second part is where do people find you if they want to get in touch or consume your content?

 

Anthony Scaramucci  42:14

Yeah, yeah, you know, add Scaramucci on Twitter is the best place to find me. And I would say that my 20 year old self. And you got to really think about this. And if you’re younger than me, you got to really think about this. And if I’ve left any impact on you listening to this, you got to do what I’m about to say. And that is live with less fear, live with less anxiety, and you should idealize what you want to do in your life, and you should go for it. And I wish, my 20 year old self, I had that level of certainty, that no matter what happened, I was gonna figure it out, right? Like an entrepreneur is somebody that jumps off a cliff and builds the airplane as they’re descending down the cliff. And you can do it, you can figure it out. And but I had fears and anxieties and financial anxieties as a kid, and you probably limited my upside unnecessarily. And so that would be my message to people. Go for it and live your life. Who cares? You know, I mean, you’re going to be dead anyway. Right? So who cares? I mean, Mel Brooks has the best line about life ever relaxed. None of us are getting out of your life. So just go for it. And I think that when you do your adrenaline is there, and you’re meeting the arc of your aspiration, and even if it doesn’t work out perfectly, you’ll be so proud of yourself that you gave yourself the gusto and you believed in yourself enough to give it the try. Beautiful.

 

Scott D Clary  43:52

I love it. Thank you so much. God bless you. Okay, you soon here’s all the best. Thanks again for joining me on the success story podcast. Thanks again, Anthony. I really appreciate the chat. If you haven’t already, please subscribe, download, share with your friends, families, peers or co workers. You can catch this podcast, you can stream it you can download it wherever you can download or stream podcast and you can always catch it on YouTube as well. If you haven’t left us a rating that would be wildly appreciated. Any rating is fine as it as long as it contains five stars. As always, have a great week. Have a productive week and we’ll speak against you. Bye now.

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