313: Adam Townsend on Rich People Money vs Poor People Money

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 12 June 2020

⏱️ 120 minutes

🔗️ Recording | iTunes | RSS

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Summary

Adam Townsend is a private investor who now manages his own capital through his family office. He previously was one of the largest producers on Wall Street and has spent the last two decades investing in some of the world's most valuable companies. In this conversation, we discuss Wall Street in the 1990s, why Adam started a family office, how society has exchanged the Constitution for Terms of Service, what his biggest investments are right now, why he refrained from investing in Amazon, and what he means by rich people money vs poor people money. =============================== BlockFi allows you to keep your crypto, put it up as collateral, and receive a USD loan funded directly to your bank account. They do loans ranging from $2,000 to $10,000,000, and they're perfect for helping you reach your financial goals of all sizes. Visit BlockFi.com/Pomp to learn more about putting your crypto to work without having to sell it. https://www.blockfi.com/pomp =============================== Our second sponsor is choice, a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp =============================== Pomp writes a daily letter to over 50,000 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 pompletter.com

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp podcast.
0:06.0	Simply the best podcast out there. Let's kick this thing off. Adam Townsend is a private investor who now manages his own capital through his family office.
0:16.0	He previously was one of the largest producers on Wall Street and has spent the last two decades investing in some of the world's most valuable companies.
0:23.6	In this conversation, we discussed Wall Street in the 1990s, why Adam started a family office, how society has exchanged the Constitution for terms of service, what his biggest investments are right now,
0:35.6	why he refrained from investing in Amazon, and what
0:38.8	he means by rich people money versus poor people money. I really enjoyed this conversation,
0:43.5	and I hope you do as well. Before we get into the episode, though, I want to quickly talk
0:47.6	about our sponsors. The first is BlockFi. I'm an investor and a user, and a huge fan.
0:57.2	BlockFi's got three products. The first is when you deposit crypto and they give you a US dollar loan. The second allows you to buy and sell
1:02.2	cryptocurrency on a crypto exchange. And the third is my favorite product, their interest-bearing
1:07.1	account. You can deposit crypto and earn up to 8.6% APY in the interest-bearing account,
1:13.3	unheard of rates. So go visit blockfi.com slash pomp. Again, blockfi.com slash pomp, and you can
1:20.5	learn everything you need, or you can click on the link in the description. Our second sponsor is
1:25.9	Choice, a new self-directed IRA product that I'm really excited about.
1:30.6	If you're listening to this, you're likely part of the 7.1 million Bitcoin owners who have
1:34.7	retirement accounts with dollars in them, but not Bitcoin.
1:37.6	I was in that situation too.
1:39.6	But now you can actually buy real Bitcoin in your retirement account.
1:43.3	I'm talking about owning your private keys and using tax advantage dollars to do it too.
1:48.3	A self-directed IRA that allows you to hold your private keys and invest in Bitcoin.
1:53.8	Absolute game changer.
1:55.3	Head on over to retire withchoice.com slash pomp.
	...

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