Today we're doing lunch at Manhatta, towering 60 stories above the financial district. Joining us is Rick Heitzmann, co-founder and partner at one of New York's most influential early stage venture firms, First Mark Capital. 

Rick has been early to some of the most category defining companies of the last decade, backing names like Pinterest, Airbnb, and DraftKings. That foresight has landed him on the Forbes Midas list, not once, not twice, but five times. And if that wasn't enough, he's living the dream of every New York sports fan, joining the ownership group of the New York Yankees.

Timecodes:

00:00 – Cold open: The Vilification of AI

01:08 – Meet Rick Heitzmann

03:18 - Philly Sports Fan Turned Yankees Owner

05:02 - How Rick Got Into Yankees Ownership

06:00 - Spotting Trends Early: DraftKings, Airbnb & Pinterest

07:50 - Sports Betting, Prediction Markets & Integrity in Sports

09:40 - Danny Meyer, Hospitality & NYC Restaurant Culture

11:27 - Why the Restaurant Business Is So Tough Right Now

12:46 - AI, Digital Health & The Future of Healthcare

15:45 - The Explosion of Women’s Sports & Sports Merch Culture

18:02 - The Great Jersey Debate: Should Adults Wear Them?

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#investing #stocks #stockmarket #ApexFintechSolutions

Standing Table is made possible through our continued partnership with Apex Fintech Solutions.

Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing.

For more information, visit the Apex Fintech Solutions website: https://apexfintechsolutions.com/

LinkedIn: apex-fintech

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RiskReversal Media channel for more episodes and content:    / @riskreversalmedia  

The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.​​

In this episode of the Risk Reversal Podcast, Dan Nathan and Guy Adami discuss Friday's stock sell-off, geopolitical tensions, oil and the AI mania. Later, they sit down with Brian Hartigan, Global Head of ETFs & Index Investments at Invesco, to discuss the future of the QQQ, market concentration, passive investing, AI-driven growth, and the next wave of mega IPOs.

They dive into Nvidia’s dominance, the role of options in investing, why QQQ has remained a powerful long-term vehicle, and what investors should understand about market structure as AI reshapes the economy.

Topics include:

• QQQ and the evolution of the Nasdaq 100

• Nvidia, concentration risk & AI winners

• Passive investing and market structure

• The growing role of options strategies

• SpaceX, OpenAI & the next generation of IPOs

• Interest rates, fixed income & portfolio construction

• Product innovation at Invesco

Timecodes:

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Anthony Scaramucci joins Guy Adami for a wide-ranging conversation on everything from Dante’s Inferno and human nature to Bitcoin, risk-taking, wealth, and the future of money. Scaramucci explains why he believes understanding history matters more than ever, shares his outlook on China and Taiwan, and breaks down why Bitcoin could become one of the most important technologies of our time. Plus: lessons on success, failure, family, gratitude, and what really matters in life.

Timecodes:

00:00 Intro
01:00 Why Dante’s Inferno Still Matters
03:00 The Nine Circles of Hell & Human Nature
04:00 Trump, Xi & the Thucydides Trap
09:00 Will China Invade Taiwan?
12:00 Legacy, Art & Being Remembered
15:00 Why Bitcoin Matters
17:00 Bitcoin, Blockchain & the Future of Money
22:00 Why You Need Bitcoin Exposure
23:00 Who Scaramucci Trusts in Crypto
24:00 Reinvention, Risk & Innovation
26:30 Are Great Investors Born?
28:30 Wealth, Happiness & Family
31:00 Forgiveness, Gratitude & Parenting
33:00 Final Thoughts + Follow Anthony

This episode is sponsored by Fidelity Investments and the all-new Fidelity Trader+ platform.

Try Fidelity’s most powerful trading experience yet:

Fidelity Investments and Risk Reversal are not affiliated. Views, opinions, products, services, and strategies discussed are not endorsed or promoted by Fidelity Investments. Fidelity Brokerage Services LLC, Member NYSE, SIPC.

Xxx

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This episode might work better visually! Click here to watch on YouTube: https://youtu.be/F6p1s00YIck

Carter Worth is BACK with the WAWD Substack boys for another edition of "Bourbon & Charts"

Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!

Timecodes

0:00 - Intro

1:30 - SPX & Semis

14:30 - Gold, $AEM & Copper

23:00 - Yields

30:00 - Oil & Energy

36:30 - Single Names

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ABOUT THE SHOW

For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.

Follow Danny on X: @dmoses34

The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

At RBC Capital Markets’ Private Tech Conference, Dan Nathan interviews RBC analysts Brad Erickson, Rishi Jaluria, Matt Swanson, and Matt Hedberg on Q1 earnings and AI’s impact across internet and software. Erickson says demand is solid, hyperscalers are raising CapEx as cloud ROI improves, and explains why Meta’s higher spend hurt the stock versus Google/Amazon’s accelerating cloud revenue and margins; he ranks Amazon over Google over Meta and discusses Uber’s AV positioning versus Waymo. Jaluria is bullish on Microsoft’s broad AI opportunities, notes Copilot’s growing paid users, and discusses multimodel strategy, small/medium models, and Oracle’s controversial OpenAI-linked data center build and financing. Swanson covers ad/martech, highlighting Adobe’s “orchestration” narrative, Trade Desk’s holding-company tensions, and AppLovin’s ROAS-driven model. Hedberg argues cyber and infrastructure need “more, not less” security post-Anthropic’s Mythos, cites capitulation in software sentiment, favors consolidators like CrowdStrike, Palo Alto, Snowflake, Datadog, and ServiceNow, and notes AI-driven efficiency and layoffs as potential catalysts amid continued volatility.

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Tonight we're at Hunt and Fish Club talking with Anthony Scaramucci. Most people know him for his famous two weeks in the Trump White House, but he's so much more than that.

He's the founder of SkyBridge Capital, a fixture on Wall Street, and one of New York's most resilient comeback stories. In 2015, he co-founded Hunt and Fish Club, a tribute to 1960s New York and old-school hospitality.

Listen in while we discuss inflation, Bitcoin, and what’s broken in America.

Timecodes:

00:00 – Cold open: Wall Street vs. Washington

00:30 – Show Intro

01:08 – Meet Anthony Scaramucci + Hunt & Fish Club

02:30 – Childhood, family values & early influences

04:47 – Career start: Goldman Sachs & lessons learned

05:30 – Inflation, debt & the state of the economy

08:24 – Wealth gap & what’s broken in America

11:24 – Culture, mentorship & paying it forward

16:15 – Bitcoin, money & the future of finance

21:10 – Politics, life lessons & gratitude

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FOLLOW US

Instagram: ⁠https://www.instagram.com/riskreversalmedia/⁠

Twitter: ⁠https://x.com/riskreversal⁠

LinkedIn: ⁠https://www.linkedin.com/company/riskreversalmedia/⁠

Standing Table is made possible through our continued partnership with Apex Fintech Solutions.

Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing.

For more information, visit the Apex Fintech Solutions website: ⁠https://apexfintechsolutions.com/⁠

LinkedIn: ⁠https://www.linkedin.com/company/apex-fintech/⁠

SUBSCRIBE:

RiskReversal Pod for more from Guy and Dan: ⁠https://apple.co/3RzvgpD⁠

RiskReversal Media channel for more episodes and content: ⁠https://www.youtube.com/channel/UCRAOycPjsSgcEyQcuJD_ENA⁠

The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.​​

Guy Adami and Liz Thomas discuss the April jobs report, noting payrolls rose about 115,000 versus expectations near 65,000, with unemployment steady at 4.3% and back-to-back monthly job gains for the first time in nearly a year. They argue the data increases pressure on the Fed not to cut rates, with markets pricing little chance of a cut and some lingering hike risk, though Thomas doesn’t expect hikes. Despite geopolitical uncertainty and inflation concerns, equities sit at all-time highs, led narrowly by semiconductors and select tech, with limited broadening under the surface. Thomas highlights “Acceleration Nation” data points including improving hiring rates in JOLTS, strong retail sales, and roughly 25% year-over-year Q1 earnings growth, while flagging risks from CapEx/AI optimism fading or more permanent layoffs spreading to old-economy sectors. They also discuss consumer sentiment’s inflation focus, and remain constructive on energy longer term even if oil-driven froth pulls back.

Mike Green returns to On The Tape discuss why U.S. equities hit record highs despite the Iran war and oil spike, arguing systematic 401(k) and volatility/trend strategies drove historic inflows and that markets had largely priced in fear via VIX, correlation, skew, and heavy hedging that later unwound. He critiques Nasdaq’s new low-float multiplier rules as boosting demand for IPOs like SpaceX/OpenAI and warns S&P’s proposal to waive profitability requirements could turn the index into a private-equity exit vehicle and alter its historical quality bias. Green views the Fed as mostly narrative-driven except during major rate shifts, faults data-dependence, and says inflation swaps don’t show a breakout, while high rates act as a fiscal transfer that reinforces a K-shaped economy. He explains passive bond indexing can underweight long-duration Treasuries, potentially motivating buybacks/yield-curve-control-like actions. The conversation also covers AI capex, emerging AI-driven job restructuring favoring older workers, and Bitcoin’s ETF-driven financialization and limited utility.

Show Notes

Dan Nathan and Guy Adami broadcast from FactSet’s FOCUS Conference in Austin, highlighting FactSet’s AI innovations, its partnership with Risk Reversal Media, and Dan’s upcoming main-stage interview with new CEO Sanoke Viswanathan. They discuss a potential “SaaS apocalypse” narrative versus the value of closed, reliable data systems like FactSet, then shift to markets: software’s technical setup, Oracle’s overshoots, and an explosive semiconductor/memory rally (SOXX at highs) featuring sharp moves in Intel, Micron, Western Digital, Seagate, and SanDisk. They flag frothy private-market AI valuations (OpenAI, Anthropic, SpaceX), risks of double/triple ordering and eventual margin deterioration, and cite Palantir’s weak post-earnings price action as a possible “fever break.” They also cover energy (Devon, OIH vs XLE), macro/valuation concerns, and weakening signals from Visa/Mastercard and banks. They promote the new YouTube dinner-series “Standing Table,” sponsored by Apex Fintech Solutions.

Show Notes

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Join the WAWD Substack: https://whatarewedoingonthedesk.substack.com/

Guy Adami and Danny Moses open with a brief New York Giants aside before turning to markets, focusing on Jerome Powell’s final Fed press conference as Chair, his plan to remain a governor, and expectations that Kevin Warsh will become Fed Chair as the administration seeks more influence over the Board. They discuss how markets have stayed resilient despite $100 oil, rising global yields, a weakening yen with Japan intervention near 160, geopolitical stress, and a subdued VIX, attributing much of the strength to passive flows and forced institutional chasing. Moses flags inflation beginning to filter through via price hikes and warns the consumer may eventually feel higher energy costs. They debate energy stocks’ durability even if crude eases, remain constructive on gold amid fiscal/geopolitical risks, note elevated valuation signals like the Buffett indicator, and address concerns about “fantasy math” in AI, citing OpenAI CFO Sarah Friar’s tempered adoption comments and cautioning retail on private-market secondaries.

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Twitter: @RiskReversal
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