This is our final episode of the year on Open Book, and I wanted to slow things down for a moment and take stock of what we’ve built together. Over the past year, we sat down with extraordinary authors, historians, thinkers, and storytellers—people who spent years wrestling with ideas so we could absorb them in hours. This episode is a reflection on those conversations, the books that shaped them, and why reading remains one of the highest-return investments you can make in your own life.

Anthony's Favorite Books of 2025:

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

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This conversation dives into inflation, affordability, and why the Federal Reserve’s next moves will shape markets heading into 2026. We unpack Trump’s pressure on interest rates, the politics behind choosing the next Fed chair, and how global liquidity—from AI-driven growth to the yen carry trade—ripples through stocks, currencies, and crypto. Along the way, we explore why Bitcoin’s stalled momentum may be a contrarian signal rather than the end of the story.

Michael Novogratz is the Founder and CEO of Galaxy Digital. He was formerly a Partner and President of Fortress Investment Group LLC. Mr. Novogratz served on the New York Federal Reserve’s Investment Advisory Committee on Financial Markets from 2012 to 2015. He serves as the Chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation.

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Mike and I discuss why we're "nervous bulls" on markets—with the Fed cutting rates and Trump pumping money into the economy, valuations look attractive, but an exploding wealth inequality gap and growing political backlash could trigger a revolution that ends the bull market. We dive into housing affordability (half of America earns below what's needed to buy a home), tokenization's global impact, Abu Dhabi's rise as a financial hub, and what economic warning signs would make us turn bearish.

Michael Novogratz is the Founder and CEO of Galaxy Digital. He was formerly a Partner and President of Fortress Investment Group LLC. Mr. Novogratz served on the New York Federal Reserve’s Investment Advisory Committee on Financial Markets from 2012 to 2015. He serves as the Chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation.

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Kate Vigurs is an independent historian, author, lecturer, and academic advisor. She is the author of Mission France and is a frequent contributor to TV, radio, and the press.

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

🎙️ Check out my other podcasts:

📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

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George Kikvadze is the Founder of Cryptic8 VC, investing at the intersection of technology and longevity. He is also Vice Chairman and an early backer of Bitfury Group, the company at the heart of this book. A Bitcoin pioneer since 2013, he was privileged to be behind three tech unicorns - Bitfury, Cipher Mining, and Hut 8 - with a combined value exceeding $12 billion. A graduate of Wharton and Johns Hopkins, George enjoys tennis, chess, and raising his two sons.

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

🎙️ Check out my other podcasts:

📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

Learn more about your ad choices. Visit podcastchoices.com/adchoices

Ray D. Madoff is a professor at Boston College Law School and the cofounder and director of the Boston College Forum on Philanthropy and the Public Good. She is the author of Immortality and the Law: The Rising Power of the American Dead and lead author of The Practical Guide to Estate Planning. Her writing has appeared in The New York Times, The Wall Street Journal, The Washington Post, and The New York Review of Books, among other outlets.

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠⁠

🎙️ Check out my other podcasts:

📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

Learn more about your ad choices. Visit podcastchoices.com/adchoices

Mike Bird is the Wall Street editor for The Economist, leading coverage of topics across the American financial industry and contributing to coverage of finance globally. He also cohosts the financial podcast Money Talks. Previously, he was a financial columnist and market reporter at The Wall Street Journal. Bird studied history and politics at the University of Exeter in the UK.

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠

🎙️ Check out my other podcasts:

📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

Learn more about your ad choices. Visit podcastchoices.com/adchoices

I am excited to share this conversation with my good friend and investor, Michael Novogratz, to discuss the latest in the state of the markets. We are experimenting with a new format, so please send us your feedback if you have any. This conversation strips away the pretense around Bitcoin's volatility, MicroStrategy's leveraged gamble, and the mainstreaming of speculation with two Wall Street veterans who've traded through every crash and euphoria. From forced liquidation fears to prediction markets disrupting casinos and the slow invasion of crypto into trillion-dollar wealth channels, it's a blunt, unvarnished look at how risk, regulation, and the normalization of gambling are reshaping markets right now.

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I am excited to share this conversation with my good friend and investor, Michael Novogratz, to discuss the state of the markets. We are experimenting with a new format, so please send us your feedback if you have any. This conversation cuts through the noise of crypto crashes, rate cuts, and AI hype with two veteran investors who’ve lived every boom, bust, and hallucination along the way. From macro politics to leverage-fueled panic and trillion-dollar tech bets, it’s an unsentimental, sharp-edged tour of how money, power, and technology are colliding right now.

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📚 Books mentioned in this episode:

Traitor to His Class by H. W. Brands https://amzn.to/48x57QG

Roosevelt: The Lion and the Fox by James MacGregor Burns https://amzn.to/48jrgDb

Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

📚 Get a copy of my books:

From Wall Street to the White House and Back ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47fJDbv⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Bitcoin ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47pWRmh⁠⁠⁠⁠⁠⁠⁠⁠

The Little Book of Hedge Funds ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/43LbM83⁠⁠⁠⁠⁠⁠⁠⁠

Hopping over the Rabbit Hole ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/3LaykJb⁠⁠⁠⁠⁠⁠⁠⁠

Goodbye Gordon Gekko ⁠⁠⁠⁠⁠⁠⁠⁠https://amzn.to/47xrLYs⁠⁠⁠⁠⁠⁠⁠⁠

🎙️ Check out my other podcasts:

📱 Follow Anthony on Social Media

YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@therealanthonyscaramucci

Learn more about your ad choices. Visit podcastchoices.com/adchoices