Market positioning: cautious, preserve capital

Markets are flashing warning signs, and the U.S. consumer is taking the hit. Mike Novogratz and I break down why traders have shifted from buying the dip to selling the rally, what the wealth gap means for the economy, and where crypto stands as the Clarity Act stalls. This is a market you need to understand right now! 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. Learn more about Galaxy here: https://www.galaxy.com/ Follow Anthony on X: https://x.com/Scaramucci Follow Novo on X: https://x.com/novogratz 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. Learn more about SALT here: https://www.salt.org/ Pre-order my next book, All the Wrong Moves: How Three Catastrophic Decisions Led to the Rise of Trump, out on the 17th of September in the UK and the 22nd of September in the US: ⁠https://linktr.ee/anthonyscaramucci Referenced in the episode: https://www.axios.com/2026/03/28/iran-war-inflation-costs?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosam&stream=top https://www.wsj.com/economy/wealthy-americans-us-economy-dba0d26a?mod=hp_lead_pos7 https://www.axios.com/2026/03/24/jobs-labor-college-gallup?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiospm&stream=top https://www.galaxy.com/newsroom/galaxy-to-match-us-governments-contribution-to-trump-accounts

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