What All Investors Need To Know (2026 Update)

There is a huge opportunity here if you seize the moment. We are in a very interesting moment in history. I believe there are too many dead bodies on either side. Peace is not an option right now. Israel, as of this morning, is moving into Lebanon and Gaza. Like, we are, we are headed to full-out war in the Middle East. A few data points why I don't think the market's going to crash in real estate. They made the most amount of money during the most amount of fear. Baby boomers, they got it so well. Well, guess what? They're starting to die. So without further ado, match his energy, give it up for Bridger Pennington. Hey, good to see you.

Big step, brother.

Thank you. All right, how we doing? What's going on? What's going on? All right, welcome. My name is Bridger Pennington. You're not here to learn about me. We're here to talk about you guys. We're going to talk a lot about investment funds, what's happening in the world. We're going to talk about the election going on, interest rates, World War III. The whole thing. We're gonna try to wrap it up with a nice bow at the end. Does that sound fair?

Yes.

Like a good plan for today? All right, I want you, by the end of my talk, to consider this: why every person here should consider launching a fund. This is the world of real estate funds, private equity, venture capital, hedge funds, debt funds, private equity funds. Now, I think this is a major principle that I have tried to employ in my life. Watch what people do, not what they say they do. You know what I mean by that? Watch what people do, not what they say they do. What do these people have in common? We got Grant Cardone. I'm gonna assume you guys all know this. Grant Cardone, Cody Sanchez, Pace Morby, Tai Lopez. What do they all have in common? Any thoughts? Yell it out. They're killing it. They're killing it. They're making money. They're online, they're online, what else though? What else are they doing in common? They're all starting funds. They're all starting funds. Interesting. Watch what they do, not what they say they're doing. I know what they teach online, that's great and all, what are they actually doing with their time? Right here, Grant Cardone, $4 billion AUM real estate fund. Cody Sanchez, she owns Contrarian Thinker, she buys small businesses with her funds and syndications. Pace Morby, raising a $100 million multifamily fund doing sub-2. I was just with him, I guess, a few months ago talking about his fund, helping him with that. Tai Lopez, they bought Pier 1 Imports, RadioShack with a fund. Interesting. Why are some of the top people online all going and doing funds? Watch what people do, not what they say they're gonna do. Alex and Leila Hormozi, what are they doing? They're doing private equity at mass. Alex and Leila actually bought our course. We know them. Well before they blew up, they actually bought our course back in 2022. Hopped on some calls with Layla and we talked through, this is when they were thinking about doing Acquisition.com. We talked through the model of building and buying businesses. Again, watch what people do, not what they say they're doing. I was just with Russell Brunson just a few weeks ago. He is acquiring businesses at scale. He's the ClickFunnels guy, which is great. These are all great little tools that you can use. Watch what they're doing, not what they say they're doing. Pretty interesting, they are all starting funds. Now, real quick, just background on me in 60 seconds. We're not here to talk about me, but I think it's important to know just my background and what we do. So I've ran a few different funds myself. So I ran Blackbridge Holdings, started actually— I'm a local guy, I live here, just moved to Draper right now. We just bought a house up there. I launched 2 funds in college at BYU. We got a 64% rate of return to our fund. We did 219 deals through those funds and actually exited and sold those funds. We also launched Fund Launch. That's now over 100,000 students have gone through Fund Launch. Anybody taken a course from us or one of our programs or seen one of our videos before?

Yeah.

We do a lot of fun stuff. We've done 3 now, $1,200, $1,200, 1,200-person live events plus, 300+ funds launched. We've done $32 million in revenue, all bootstrapped, and then I run 2 funds currently. I run a crypto hedge fund with Dan Young, Dan the PC Laptop Man in Utah. We've got an incredible fund we run there, and then we run a GP stakes fund through Fund Launch Partners, which is more of a private equity GP stakes fund, and we're raising $100 million for that fund. So I do what I preach, that's what I'm saying. I'm in the game right now. I'm in this game, and I wanna talk about this game a little bit with you guys today. These are a few people we've worked with. This is Jason. He said, our last investor, they invested $51 million because they loved our team. This takes us to $60 million of our $100 million total raise for a real estate fund. This is another person. This is Hester. This worked exactly as advertised. 3 extremely tenacious people who are different. We went and launched a $15 million private credit debt fund. They're doing loans on real estate, private credit. This is Kaloa. He actually is a Utah guy. They bought 2 properties for over $100 million up in Park City just in the last 12 months. He worked through our program, he actually spoke at our last event. This is the Hilton campus, it's right up on the Canyon Ski Resort just in Park City, just local. These are people that we've launched. This is me and my business partner Mason, and this is us online. Hopefully you guys can come, we put out a lot of free content on funds and all that kind of stuff here, okay? This is my, and this is my biggest flex of all. This is my Rolex, this is my Lambo, this is my amazing, this is my family, this is my wife, we're pregnant with a second child, this is our son Joan in the middle. And the best part of, I always call it like, that's the biggest flex right there. Of all my stuff, that's the biggest flex. We both grew up here. I went to Alta High School. We're both from Sandy. Like, I'm a local Utah guy, which is pretty fun. So we'll skip through this bunch more things. Okay, my goal for today, why you should consider launching a fund. Does that sound cool if we dive into that?

Yeah.

I'm gonna spend a little bit of time on this. I, well, we'll see how we go, and we'll get some crowd feedback here for a second. Okay, this is for, who runs a business in here, or who's an investor in here? Raise your hands. Okay, this is for people that want to scale. If you're just doing your first business or event and you want to just start, that's fine. But if you want to scale, that's when you want to consider launching a fund. Now, what is a— I'm gonna go back for a second. Got some Shane Gillis, some of you saw that queued up. We live in a crazy world. We're gonna talk about this in a minute. Maybe I'll come back. When I mention the words funds though, let me just describe what I mean. What a fund is, A fund is a pool of money. Investors come and put money into that pool, and me and you draw from that pool to go make investments. Anybody raise capital before in this room? Anybody raise their hands? What did you raise for? Uh, semi-truck logistics fund and then a couple different real estate syndications. Sweet. So if you didn't hear that, semi-truck logistics fund and a couple real estate syndications. Was the— and the semi-truck was a fund or a syndication? It was a fund. Oh, great. And then 506, great. And then you did some real estate syndications?

Yep, 506.

Perfect, 506s. So, great, you raised money to go buy a trucking company, trucking logistics company, and you raised money to go buy some real estate, correct? You played bigger, right? You had a business model. That's actually a great example for both of these, a business model that worked at a logistics company that you guys, you bought into, and now you're scaling. We buy the trucks. You buy the trucks. Okay, so you needed capital to scale. Right? So as a business owner that needed capital to scale, and then obviously real estate, you just needed capital to acquire the properties. And were you flipping them, or what'd you guys do? Uh, they're hotel-to-resi conversions. Oh, hotel-to-resi conversion. Very fun. So taking hotels, converting them to residential multifamily. How many units was it?

100.

100 units. Very cool. Anybody else done that before? Heard that concept? Kind of cool. Just tangent. It's a very cool concept right now. A bunch of people are doing— they're buying old hotels, motels, converting them to multifamily. Very, very cool. Did it turn out good? Yeah, so far so good.

I love it.

Okay, so, uh, people that want to scale— this is a good model for people that want to scale. It's how you can accumulate capital together in a structure to go out and buy businesses, scale your business, buy out competitors for business owners. Or if you're an investor, buy more of what you're doing. If you're buying property, you can buy more property. If you're trading stocks, you can trade more stocks. That's what a hedge fund does. So this world of private equity, hedge funds, venture capital, they're all kind of the same. They're all funds, and they just trade different things. A hedge fund trades public equity, stocks and bonds. A real estate fund trades real estate. A private equity fund just trades private equity, which is businesses, private ownership of businesses. Is this kind of making sense? Set the groundwork? Okay, I'm gonna skip through, I know this is Shane Gill. Maybe we'll send it. You guys wanna see Shane Gillis for a second? All right, let's just do it just for fun. We're just here for fun. It's the afternoon. Let's have a little bit of fun, huh?

Trump gave what I think was probably one of the greatest speeches a world leader's given. You know, it's gotta be up there with like Churchill, Gettysburg Address. It's the night the United States killed the leader of ISIS. Trump comes out of the Situation Room at like midnight, like he gives a press conference, like he's giving a postgame NBA, and just goes, Abu Bakr al-Baghdadi is dead. He died like a dog in a fucking— I didn't change one word of that. That's what he opened with. And then he did 40 minutes. The speech is 40 minutes. The meanest shit talk you've ever heard in front of the whole world. Abu! We could hear him crying. I said, Abu, don't cry. Abu! Let me tell you something. Abu cried. He cried quite a bit. I wouldn't have cried. Crybaby Baghdadi. That's what we were all calling him.

Okay, there you go. That's his bit on Trump. It's pretty good. We got election here in what, 30 days? He did one on Biden too. I wish he did one on Kamala. I wonder what he'd come up with Kamala. But this is one on Biden. We'll play this one. Keep that going. We'll try it again.

My favorite thing about Biden is Anytime Biden finishes a speech, he transforms into a Roomba.

All right, we live in a crazy world, huh? Pretty fun. So, um, I love that bit. If you haven't seen that whole bit, it's amazing from Shane Gillis. So, um, we live in an interesting world. Now, we know that from politics. Let me talk about the financial world for a second. There are 3 companies currently taking over the world. You guys cool if we talk macroeconomics for a little bit? Is that okay?

Yeah.

Literally, when I— on the way here, I changed my whole talk. Is that okay?

Yeah.

So here we go. We're just gonna send it. All right, here we go. We're gonna send it into this. There are 3 companies taking over the world right now. Vanguard, State Street, and BlackRock. Combined, they manage roughly 30% of shareholder vote on the S&P 500. Pretty wild. Combined manage over $22 trillion of assets. Pretty crazy. This is the cap table of the largest companies in the S&P 500. If you notice, the top owner is Vanguard, number 2 is BlackRock. If you've ever wondered, how did— remember when ESG came out? You guys know what ESG is? Environmental, social, and governance. Like a decade ago, all these companies started doing environmental things and social and governance things all at the same time. Am I the only one? All these companies together, like, why are they— how did you get all these different companies individually to all do this same thing? Well, guess what? BlackRock and Vanguard mandated it. What's the job of a CEO? Return shareholder value. It's your number one job as a CEO. Who are your 2 largest shareholders? Vanguard and BlackRock. And they said, if you don't do ESG, we're gonna sell your stock and delist you from our platform. So if you're a CEO of one of these companies, what do you do? Say, saddle up, partner. Yeah, we'll do whatever you need, ESG or whatever the thing is. Now I'm going to preface this: I do not care if you're a left-wing or right-wing or pro-Trump or pro-Kamala or whoever. I don't care. I just don't like politics in business and other stuff, and right, especially when 3 companies can dictate and control what all these other underlying companies do. Uh, this is not just happening on Wall Street, this is happening in real estate. In 2020, I'm just going to read right here. 2021, 1 in 7 homes were purchased by Wall Street. In 2022, 1 in 5 homes were purchased by Wall Street. In 2023, they didn't publish the data because it was that bad. Best estimates, it's 1 in 3. Last year, best estimates, 1 in 3 homes were purchased by big institutions on Wall Street. Pretty wild. We are living in a world that's being consolidated and rolled up. Sorry, the slide's messed up, but we are seeing TV, news, food, food production, accounting already rolled up, and things— industries starting to consolidate. Car washes, Amazon sellers, dentists, food franchises, chiropractic, real estate, social media accounts. We have people right now buying social media accounts. Actually, in our group, we have people doing this. They're buying hundreds of social media accounts. They keep them the same. But the backend owner changes, and they can push and push different things on those social media accounts. We believe we're following 100 different people. Really, it's controlled by one or two people in the backend. Let me—I'm gonna go through this very quick because we're short on time. I'm gonna play this video, and then we'll talk about how this is being consolidated. Hope you guys maybe you've seen this. This is how news and TV and TV production have been consolidated. So I'm gonna play a video. Hopefully the sound works here. Plaguing our country, the sharing of biased and false news has become all too common on social media. More alarming, some media outlets. Publish these same fake stories without checking facts first. The sharing of biased and false news has become all too common on social media. More alarming, some media outlets publish these stories simply aren't true without checking facts first. Unfortunately, some members of the media use their platforms to push their own personal bias and agenda to control exactly what people think, and this is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. Who doesn't give you the chills a little bit? That kind of eerie. This is who owns all the media assets right here. They're all consolidated. We think we're watching different news stations, different channels. Let me give you another picture of this. Disney actually bought 21st Century Fox. There's 5 media giants that own every TV brand me and you watch.

Man, how do they push certain—

how does everyone just agree on a certain agenda? Well, it's 'cause only a couple people own those companies. Isn't that kind of crazy? This is food. This is cars. I'm gonna zoom in. The top, FCA, they own Maserati, Fiat, Alfa Romeo, Chrysler, Ram, Jeep, and Dodge. If you buy a Jeep, you're buying from the same company that makes Maserati. Down below, Volkswagen. If you buy an Audi or a Bugatti or a Bentley or a Porsche, Volkswagen, Lamborghini, they're all the same company. So if you're like, screw Audi, I'm gonna go buy a Bentley, you're shopping from the same company, okay? They're all the same. And I love, I live in Utah, we call it Audi, right? I travel, sometimes I give a speech and like, people are like, It's Audi. How do you say that? It's Audi. It's Audi, that's what I call it, okay? We're in Utah. It's Alta Ski Resort, it's Audi. It's not Alta or Audi or whatever the crap other people say. We're in Utah, okay? That's how we call it here, okay? So, how do we play in this game, Bridger? Like, what do we do? What does this all mean? For us, we have seen a massive rise of retail investors over the last few years. In 2010, 11% of equity markets were retail investors, meaning people like us. In 2023, it was roughly 25%. We are actually starting to take back markets in a very significant way. COVID, I believe, woke a lot of people up. It woke investors up, it woke regular people up to this. What is going on in the world right now of just mass control by certain organizations? Uh, let me show you a different example. This is Disney versus the S&P 500, um, March 2021. I think this ends in April of this year. See that big difference there? That's roughly $219 billion drop in market cap. That's a 71% difference from Disney and the S&P 500. Anybody wanna take a guess why? Say it out.

Woke.

Say it. You go woke, you go broke. You go woke, you go broke. Do you think Disney's woke?

Yes.

Do you think Disney's woke?

Yes.

Do you think Disney's woke?

Yes.

I don't think you're alone. The market agrees with you. Disney did something about 2 years ago that caused their, their 71% drop against the S&P 500. Apple Computer could buy Disney with cash right now. Isn't that crazy? Uh, I did this at an event with 2,000 people, and people started booing. We were in Orlando. People were booing Disney. And I was like, why are you booing? I went to a guy in the crowd, I was like, why are you booing Disney? He's like, 'cause I got 4 kids at home and I don't want political content. And again, I don't care if you're left-wing or right-wing or go woke, bro, I don't care what, I just don't want it in my kids' movies. Can we agree on that?

Yeah.

And Disney started putting this in content and people like us responded and said, I don't want that. And guess what's happened? Disney's had, and we'll see if maybe their stock will keep going down, they keep putting out political content, in my opinion. We'll see if they make a shift, if Bob Iger can make a shift. Now, I believe the way we fight back is we need more people to launch funds, though. I think— let me give you my thesis. There's a protest every day. There's people on Twitter every day. This isn't right. This isn't good. There's people giving speeches like this. Yeah, we all— whatever. It's kind of lost its luster. Calling your congressperson, like, doesn't work. What I believe needs to happen is we The people need to use the same tools that they used and put them into our hands. I'm— I believe in capitalism. I believe capitalism is the best system that society has ever— compared to other systems, nothing has produced better cost of goods, better outcomes, better quality of life for people in the entire history of the world than capitalism. Now, if you find something better, let me know. I'd love to hear about it. But so far, it's the best thing we found. We don't have capitalism currently. in some markets. I'm not okay with 3 funds running the whole world. I am okay with 10,000 different funds of people that have money and raise and use leveraged capital to compete and drive prices down for consumers. You get what I'm saying? That's why I feel like I'm on a mission to go and preach this. We call ourselves the Wall Street Rebels. This is what we do. We go out, we launch funds, we scale, we pull companies together, we make them more efficient, we democratize Wall Street. Our mission of our— the mission of Fund Launch.

What's your mission?

Our company is to democratize Wall Street, make high finance accessible to all. That is our mission. That's what we're doing. That's why I'm speaking to you today. I think this is crucial. If we don't do this, we may be slaves to people that do do this, and maybe we already are, but maybe we can push back a little bit. Can I get an amen?

Amen.

Amen. All right, sweet. So that's how we play in this game. There's a few different massive ways we can play in this game. The baby boomer wealth transfer is happening right now. $84 trillion in assets is being passed down from the baby boomers and the silent generation over the next 2 decades. $84— excuse me, trillion, not billion— trillion in assets. Everyone complains, oh, the baby boomers, they got it so well. Well, guess what? They're starting to die. Okay, just kidding. That was a very bad joke.

But they are gonna start passing—

they don't want to run businesses anymore. They want to retire. Guess who they— guess who is going to run those businesses? People that are younger. Us. Okay, so let's take advantage. We got this. They've built some incredible businesses. Let's go run them. This is this incredible thing that we can go buy. And people probably talk today about buying businesses. Getting into baby boomer businesses is a great way to go. Dry powder inventory has spiked again right now, uh, $13.1 trillion in 2023. Now it's higher, more now today. is in dry powder. That's undeployed capital from big private equity funds. They are wanting to deploy into your businesses. They want to come buy your businesses. They have $13 trillion waiting on the sidelines right now to come buy your businesses. There is a huge opportunity here if you seize the moment. We are in a very interesting moment in history, I believe. Now, I'm gonna go off script here and share some other stuff. Is that cool?

Yes.

On the way here, I was like, let's just— Let's forget the rest of this. I want to talk about the here and now, right now, uh, of what's going on, I think, today. Now, I'm going to share a few things that I believe are— I'm going to share probabilities. I'm not going to share prophecies or predictions. I'm just going to share probabilities, okay? And we'll see how things shake out. Does that sound good?

Good.

Good? Okay. Um, so just a few days ago, I was in Greenwich, Connecticut at the Greenwich Economic Forum with a bunch of bigwigs, all these Wall Street people, about, about a room maybe this size, just these people right here. We had Ray Dalio come speak, a bunch of huge economists come speak, and The guy sat next to me, he runs an $80 billion fund. Another guy runs a $120 billion fund. I mean, pretty impressive group we had there. So I'm gonna back this up. Let's talk a little bit about, anyways, where I think we're at in a few ways, and hopefully this will come together nicely. We'll see. Number 1, so I wanna take you back on where the US dollar is in relation to other currencies and other things around the world. I'm gonna take you back to 1949, the Bretton Woods Agreement in Bretton Woods, Connecticut. This is the end of World War II. A bunch of nations came together and decided on a new world order. Many of you have followed maybe Ray Dalio's books, talks a little bit about this. But the idea that came together was the US was the only country with a navy. Having a navy is a luxury for countries. It's one of the most expensive things you can buy on earth is a navy. That's why most countries don't have them. At the end of World War II, the United States was pretty much the only country that had a navy. The proposition was this. The United States said, hey, we have a navy. We will protect all of you. We will protect your shipping lanes. We will protect everything that you're doing as long as you trade with us. And everyone's like, that's it? Like, anything else? And they said, well, you just have to use our currency. That's it. And everyone's like, where do we sign up? This is amazing. You're gonna pay for our military protection? Yes, just use our currency. That's where the US dollar became the world— and slowly, it took some years to do that— became the world reserve currency. And that's why, if you ever wonder Why is the US involved in all these conflicts around the world? It's because it's part of our agreement. We said we would have a navy that would go and protect shipping lanes all over the earth as long as people used our currency. What it did is made us a superpower. We became the most powerful dominant country on earth. That's why the US dollar— my— me and my dad wrote a book called Dollars, Gold, and Bitcoin. Talks about the dollar is the greatest export of all time, ever. We print a trillion of them. And people like us work 80 hours a week. Some people lie, steal, cheat to get more of them. And then we print a trillion more, and people lie, steal, cheat. They want more of them, right? It's an incredible export. We export dollars. It's a different way to think about the dollar. And so far, it's gone pretty well. Now I'm gonna speed things up a little bit. There's a lot we could share, and I'm short on time here to kind of more now. We had we've had a lot of market manipulation. People of the BRICS nations, people pushing back against the dollar. We have. $36 trillion in debt, right, of this dollar. A lot of people in this, oh, the dollar's dying, the dollar's going down, the dollar's backed by nothing. Well, the dollar's backed by a couple things. Number one, US Navy. Our Navy, let me give you an example of this real quick. We have 11 supercarriers, which are, you know, aircraft carriers, right, those big things. We have 11 supercarriers. The combined world has about 3.

Wow. 11.

We have 11. Number, on that note, when an aircraft carrier leaves port, it leaves as a strike group, a full aircraft carrier strike group. It's about 11 boats that leave together with it. There's battleships, there's submarines, it goes together as, we have 11 of them. To put it in context how powerful an aircraft carrier is, if you take air forces, they rank militaries. One aircraft carrier by itself Would be the 3rd most powerful air force in the world. And guess what? The United States Air Force is number 1. China's air force is number 2. 1 aircraft carrier would be the 3rd most powerful air force in the world. So it's a big deal when we go park an aircraft carrier off of Israel like we have right now, the Ford carrier. It's like the 3rd most powerful air force in the world just parked off your coast. It's a big deal. In 2021, China was going to take Taiwan. You guys remember this? Remember, it's right during COVID The CHIPS Act came out. We said they made people decide within 24 hours. You had to decide between your citizenship and your job. If you were a chip manufacturer in China, you had 24 hours. You had to leave China and bring all your stuff with you, or you were no longer a US citizen. China still was doing— they were going to take over Taiwan. We parked an aircraft carrier in the South China Sea. They still were doing stuff. We parked a second aircraft carrier north of them. We then parked a third aircraft carrier in that same region. We had three aircraft carriers there, and then everything kind of calmed down. Like, okay, they're serious about this. We're not going to take Taiwan quite yet. So we are seeing similar things going on right now, and I'm short on time, so I'm just going to skip forward to the here and now. Let's talk about right now. So two economists just spoke. 2 days ago. I'm gonna share kind of their thoughts on the current state of the world right now. Is that okay? Is this okay?

Yeah.

Keep going? All right, um, so, uh, talking about the Middle Eastern war, the 2 guys— so one guy's an NYU economist, written 4 bestselling books. The other guy runs a global macro fund. This is their thoughts on the Middle East. Both of them are from Iran. Both have deep ties and family ties in the Middle East, in Israel and Iran. Uh, both of them said, we are at irreconcilable differences in the Middle East. There are too many dead bodies on either side. Peace is not an option right now. Israel, as of this morning, is moving into Lebanon and Gaza. Like, we are headed to full-out war in the Middle East. Now, what's interesting about this, Saudi Arabia tried to negotiate a peace deal, $100 billion peace deal. They turned it down. They were gonna pay. Saudi Arabia was like, we'll just pay $100 billion to just settle the region, It hurts our business. They said, no, we're not doing it. We are, as of like today, I believe we are at differences that cannot be resolved without more war in the Middle East. Furthermore, if you're Israel, what is your best play to get the United States and European Union more involved in your war, to back you? That'd be your best play, correct? If you're Iran, your best play is to get China and Russia involved and more BRICS nations involved. Iran sold missiles and weapon systems to Russia during their, their war that's currently going on in Ukraine. Saudi Arabia sits in the middle of this, kind of juxtaposed here in the middle. And, um, what's interesting is for Israel to attack Iran, they have to go through Saudi airspace, which they just did. They sent a missile. They sent a few kind of warning shots to Iran in the last few weeks. They have to go through Saudi, and Saudis kind of an Islamic country and in the BRICS, but they're kind of trying to play this middle ground. Furthermore, when you look at oil, the United States has now become a net exporter of oil. We just found new oil reserves in Alaska and Guiana— I never say it right— Guyana in the Caribbean. We have more oil than anybody else on Earth. We are producing more oil in the United States than any country on Earth. Most people don't realize this. We are top producer of oil on Earth. We are net exporters of oil. China, on the other hand, is importing 90% of their oil right now, primarily from Saudi Arabia. And what these 2 guys— I'm just quoting them— what they said, if you wanted to bring more powers into the war, what would you do? If you were Iran, you would somehow halt oil supply and put an oil shock to China. That would force China's hand to now get involved because all their— If they don't have oil production, I mean, their whole economy shuts down. They have to get involved if you shut down oil supply in Saudi Arabia. Is that making sense? On the other hand, if you're Israel, you want these other countries involved, you would, this is what they said, you would poise some kind of attack, whether it's cyber, internet, or an actual physical attack on some of these countries by terrorist groups or whatever that would pull them into the war and get the public support to pull into a war into Israel. Netanyahu visited the United States just a few weeks ago, went to and met straight with Trump, and is playing politics, I believe, with how the war is, how they're putting things together in the Middle East. Either way, and then the last thing they said was, if you were going to make a move like that, it's a big chess move. If you're playing chess, you would probably do it in the next 45 days. We have an election right now. United States is the most divided it's been in, or how? Decades, you would do it right now. And on stage, they were just sharing, like, we're— I don't think the market is accurately pricing this in right now, how just close we are to opening up essentially a global war. I mean, we are in the balance as of literally— what's today, October, whatever today is? We are in the balance within 30 days. Now, before that stresses you out, like, too much, it's good to know. Would you rather know or not know?

Know.

Probably rather know what's going on. Now, we can talk election. I'm over time here. Let me, let me bring it back to the here and now though of today. What can we do about any of that news though? Relatively nothing. Launch a fund. We can launch a fund though. We can actually make trades. And I'll just— let me wrap up on this. We can get prepared, which I believe it's crucial to be prepared. I'm a religious person. I believe in being prepared. Number 2, We actually are seeing there are major opportunities that come out of times like now. So I'm going to shift gears for a second. I run a crypto investment fund. We believe crypto is entering the next supercycle. Global conflict would, I think, drastically help— it would hurt crypto in the short term, help crypto in the medium to long term. Crypto is an incredible way to move and transfer assets, especially if you're in a war-torn country. I think it would actually accelerate the supercycle even more. Number 2, real estate right now. Let's talk about real estate for a second. Who owns real estate in here? This is kind of more of a real estate group. Let's talk about real estate for a second. How many people do you know that have been waiting to get in the market? How many people do you know? Come on, pretty much everybody, right? I'm just waiting, waiting for the crash, waiting for that crash to come. It's gonna be 2008 again. I'm gonna wait for it. I had a great economist on my show 2 years ago. And he's like, I don't think this crash is coming. We have now baked in inflation permanently. Since 2021, everything is up about 20% in the whole economy. Everything. We are now lowering rates, which means we are essentially baking in that inflation. It's not going down. Furthermore, we've jacked rates at the highest rate and fastest rate in history. You guys all know that purchase power of buying a home has been cut in half in the last couple years. It's twice as hard to buy a home today as it was in 2019. The same dollar price, but why haven't home prices dropped? Home prices are down across the United States about 8%. It's going to crash. I'm waiting. A few data points why I don't think the market's going to crash in real estate. Number 1, 40% of homes are already bought and they're paid off. Excuse me, 30— it was 36%. 40— 36% of homes are paid off. 40% of homes are at 3% or lower interest rates. Those are assets. I have a home right now with a 2.6% mortgage on it. I'm never selling that home. Why would you sell that? It's an asset. We're moving, I'm keeping that home as a rental. There's no way I'm selling that home, ever. So you have 75, 80% of your market that won't trade. That leaves about 20 to 25% of your home that will trade. Does that make sense? Of that, we have a supply shortage, and how many people do actually want to trade homes of that 20%? Oh, that's why the home, home price has only fallen about 8%. And now what's happened? Interest rates are dropping. All those people down the sidelines that are waiting to buy their home, they're all about to flood the market. I believe home prices are going to go up like crazy into a major boom. I bought my house literally peak interest rates, because guess what? You marry the price, you date the interest rate. Can I get an amen on that?

Amen.

So I think we have huge opportunities. When you have a fund, when you have opportunities, when things— global conflict happens, other things happen— you can make huge plays and do really, really well. Some of the greatest investors in history, if you read their books, which I have— go read their books and biographies— they made the most amount of money during the most amount of fear and most amount of turmoil. Right now is a time to lean in. It's a time to figure out this game, what this game is, how funds are built, how they're put together. I want to leave you on this note. I'm a faith— faithful person. What am I trying to say? I'm a God-fearing person. That's what I'm trying to say. I'm a disciple of Jesus Christ. I believe that we are all together in this, by the way. We can talk funds, finance, but also, it's a scary time to live. It's an interesting time to live. Grab some people around you, love them, be prepared, and I think we need more people that love and believe in God.

Amen.

and come closer to God. I'm trying my— I'm trying to get better every single day. And y'all are amazing. Thanks for having me. Blake, thank you for having me, and everybody here. That's my talk. My name is Bridger Pennington. You guys are amazing. Thank you all so much. Thank you. Thank you. Thank you.