Tom Michaud

speaker

480 appearances 1 recordings 1 series first heard Jun 2026 last heard 3 Jun

Tom Michaud’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

Appearances

newest first · ▶ plays the moment

The Master Investor Podcast with Wilfred Frost · “We’ve Seen the End of Times”: Tom Michaud on Market Extremes, IPO Red Flags, and 9/11 · 3 Jun 2026 podcast

So the banks are not as prominent

And it's like a Venn diagram.

You've got these terrific companies in different sectors trying to get into each other's businesses.

And I'll give you my most favorite press release of the last couple of weeks was Morgan Stanley announced that they're going to undercut Robinhood and Coinbase in crypto trading.

So the old sheriff wants to be the new sheriff.

And then if you also think about this, in the Biden administration, you couldn't keep your crypto at JP Morgan because banks weren't allowed to custody it.

You had to go to Fidelity.

Today, banks can custody crypto, which I personally believe is a very safe thing to do.

We're not saying own crypto, we're saying custody it.

So they're allowing JP Morgan to compete.

They're allowing Morgan Stanley to compete.

And if it happens in a regulatory environment, I believe the public good and the markets will be better off.

I think it will.

And I think there are a lot of really important forces around your question that you just asked there.

So let me start with tech spend.

JP Morgan spends $19.8 billion on tech this year, is going to spend $19.8.

They've announced that.

We think that there are not 10 other American companies that spend that much money.

The big seven spend a lot more than that, the hyperscalers.

Showing 141–160 of 480 · page 8 of 24