Episode 173

full
Published on:

5th Sep 2023

99 Problems, But Mitch Ain't One

It was bad enough that Michael Burry - the investor who profited from the subprime mortgage crisis by shorting the 2007 mortgage bond market - just took a $1.6 billion dollar short on the market again. Now, the man, the myth, the legend is that the great investor in world history - Warren Buffett - has just dumped $8 billion dollars of stock and is moving to a cash position. The boy think these are very telling signs of an impending recessionary economy by two men who know what they are doing. At the same time, a new report out states that 61% of Americans are living paycheck-to-paycheck and US department stores are seeing higher credit delinquencies amid strained spending. It's a wild episode that is capped by a special collaboration between Mitch McConnell and Jay-Z.

Resources:

Warren Buffett just dumped $8 billion of stocks (here's why economists are worried) (The Street)

61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets (CNBC)

US department stores see higher credit delinquencies amid strained spending (Reuters)

US labor market loses steam as job openings, resignations decline (Reuters)

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says (CNBC)

US consumer spending in July surges; weekly jobless claims fall (Yahoo! Finance)

Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Higher Standard

About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

Profile picture for Christopher Naghibi

Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.