Latest news with #DaveyDayTrader
Yahoo
09-04-2025
- Business
- Yahoo
Dave Portnoy says he'd ‘absolutely' vote for Dems in midterms if Trump continues to rattle economy
Barstool Sports founder Dave Portnoy declared on Wednesday that while he is 'willing to still give' Donald Trump time for his tariffs to work, he would 'absolutely' consider supporting Democrats in the 2026 midterm elections if the stock market and economy continue to flounder. 'I was never some crazy MAGA guy,' Portnoy insisted. Portnoy, whose 'Barstool conservatism' helped swing young males to Trump during the 2024 election, has been one of the growing number of Trump backers in recent days who have been openly critical of the president's 'Liberation Day' import taxes. 'Welcome to Orange Monday,' Portnoy dubbed the start of trading this week on his 'Davey Day Trader' livestream. Since then, Portnoy has estimated that he's lost at least $20 million amid the tariff-fueled 'bloodbath' in the stock market. Despite claiming he's lost roughly 15 percent of his net worth since the tariff announcement, Portnoy said he planned on sticking with Trump, whom he labeled a 'smart guy.' During a Wednesday interview with CNN anchor Dana Bash, which took place just before Trump suddenly announced a 90-day pause on most tariffs that led to a market surge, 'El Presidente' reiterated his vow to give the president some space to prove that his economic policies will eventually pan out and not plunge the American economy into recession. 'So it's uncomfortable anytime the stock market is like this and you're invested in it, it's certainly uncomfortable. But I stand with it,' Portnoy said. 'You know, he ran on tariffs. He said he was a tariff fan. And I don't pretend to be an economist. I don't think I realized that we'd have this market crash. I don't think most people did.' He continued: 'But I think he believes in what he's doing and trying to basically strong-arm China and get better deals for the U.S. I'm willing to still give him time. I think the big date is the midterms, which is a long time out. But I do think that in this country, the number one issue, no matter what is going on, is the economy. And if the stock market doesn't show some signs of rebound or rebounding by then, I think people will speak with their vote.' Perhaps sensing the stunning reversal that Trump would pull later in the afternoon, Portnoy pointed out how Monday's false story about Trump considering a 90-day pause on the levies caused a brief spike. 'And when there's been a fake rumor or a misquote — like he's going to postpone the tariffs or whatever — if he would come out and say, 'Hey, we did this great agreement with Japan or Vietnam,' the stock market would rip,' the Barstool owner said. 'I firmly believe that. Instead, what he's saying is everyone's kissing his a** last night. But that's Trump. Like that is that is how he speaks.' After Portnoy said he couldn't 'wait a year and a half' if the stock market were to keep dropping but is 'hoping his 'Art of the Deal' comes to fruition,' Bash wondered if the sports pundit would consider switching political parties if the economic chaos continued. 'Yeah, absolutely,' he responded. 'I voted for Trump, I support him. I was never like some crazy MAGA guy!' Saying that what 'really drove' him to the right was Democrats 'hiding Biden's mental state' and not having a primary after the former president dropped out of the 2024 race, Portnoy insisted that he's 'not somebody who would just strictly vote based on Republican or Democrat.' Still, Portnoy noted that his audience — which is primarily young men — weren't yet 'jumping ship' on the president despite his chaotic trade policies and stock market volatility, largely because they feel the left is 'far more intolerant' than the right. This isn't the first time that Portnoy — who claims the president considered making him commerce secretary — has been critical of Trump and his administration. Following the scandal over the White House's national security team inadvertently adding a journalist to a Signal group chat that included highly sensitive war plans, Portnoy said that 'somebody's got to go down for this.'
.jpg%3Ftrim%3D0%2C50%2C0%2C50%26width%3D1200%26height%3D800%26crop%3D1200%3A800&w=3840&q=100)
The Independent
09-04-2025
- Business
- The Independent
Dave Portnoy says he'd ‘absolutely' vote for Dems in midterms if Trump continues to rattle economy
Barstool Sports founder Dave Portnoy declared on Wednesday that while he is 'willing to still give' Donald Trump time for his tariffs to work, he would 'absolutely' consider supporting Democrats in the 2026 midterm elections if the stock market and economy continue to flounder. 'I was never some crazy MAGA guy,' Portnoy insisted. Portnoy, whose ' Barstool conservatism' helped swing young males to Trump during the 2024 election, has been one of the growing number of Trump backers in recent days who have been openly critical of the president's 'Liberation Day' import taxes. 'Welcome to Orange Monday,' Portnoy dubbed the start of trading this week on his 'Davey Day Trader' livestream. Since then, Portnoy has estimated that he's lost at least $20 million amid the tariff-fueled 'bloodbath' in the stock market. Despite claiming he's lost roughly 15 percent of his net worth since the tariff announcement, Portnoy said he planned on sticking with Trump, whom he labeled a 'smart guy.' During a Wednesday interview with CNN anchor Dana Bash, which took place just before Trump suddenly announced a 90-day pause on most tariffs that led to a market surge, 'El Presidente' reiterated his vow to give the president some space to prove that his economic policies will eventually pan out and not plunge the American economy into recession. 'So it's uncomfortable anytime the stock market is like this and you're invested in it, it's certainly uncomfortable. But I stand with it,' Portnoy said. 'You know, he ran on tariffs. He said he was a tariff fan. And I don't pretend to be an economist. I don't think I realized that we'd have this market crash. I don't think most people did.' He continued: 'But I think he believes in what he's doing and trying to basically strong-arm China and get better deals for the U.S. I'm willing to still give him time. I think the big date is the midterms, which is a long time out. But I do think that in this country, the number one issue, no matter what is going on, is the economy. And if the stock market doesn't show some signs of rebound or rebounding by then, I think people will speak with their vote.' Perhaps sensing the stunning reversal that Trump would pull later in the afternoon, Portnoy pointed out how Monday's false story about Trump considering a 90-day pause on the levies caused a brief spike. 'And when there's been a fake rumor or a misquote — like he's going to postpone the tariffs or whatever — if he would come out and say, 'Hey, we did this great agreement with Japan or Vietnam,' the stock market would rip,' the Barstool owner said. 'I firmly believe that. Instead, what he's saying is everyone's kissing his a** last night. But that's Trump. Like that is that is how he speaks.' After Portnoy said he couldn't 'wait a year and a half' if the stock market were to keep dropping but is 'hoping his 'Art of the Deal' comes to fruition,' Bash wondered if the sports pundit would consider switching political parties if the economic chaos continued. 'Yeah, absolutely,' he responded. 'I voted for Trump, I support him. I was never like some crazy MAGA guy!' Saying that what 'really drove' him to the right was Democrats 'hiding Biden's mental state' and not having a primary after the former president dropped out of the 2024 race, Portnoy insisted that he's 'not somebody who would just strictly vote based on Republican or Democrat.' Still, Portnoy noted that his audience — which is primarily young men — weren't yet 'jumping ship' on the president despite his chaotic trade policies and stock market volatility, largely because they feel the left is 'far more intolerant' than the right. This isn't the first time that Portnoy — who claims the president considered making him commerce secretary — has been critical of Trump and his administration. Following the scandal over the White House's national security team inadvertently adding a journalist to a Signal group chat that included highly sensitive war plans, Portnoy said that 'somebody's got to go down for this.'
Boston Globe
08-04-2025
- Business
- Boston Globe
Joe Rogan and Dave Portnoy are among the Trump backers now questioning his tariff policies
Dave Portnoy 'Welcome to Orange Monday,' Portnoy said on his 'Davey Day Trader' financial livestream, just before markets opened this week, saying there's 'no political agenda' to his commentary, other than to make money. After last week's market plunge, Portnoy said he had lost $7 million 'in stocks and crypto,' a figure he estimated on Monday was likely closer to $20 million, or up to 15% of his net worth. Advertisement But, Portnoy has said, he plans to stick with Trump, whom he has called 'a smart guy.' Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'I think they're smarter than me when it comes to these tariffs. I also think he's playing a high-stakes game here,' Portnoy said last week on his livestream. 'I'm gonna roll with him for a couple days, a couple weeks, see how this pans out.' Founded by Portnoy in 2003 as a free sports and gambling newspaper, Barstool has grown into a digital platform covering sports, lifestyle, and entertainment, with hundreds of millions of followers. Portnoy has been a loyal Trump supporter since first endorsing him in 2016, interviewing the president at the White House in 2020. Joe Rogan Rogan, one of the nation's most influential podcasters who endorsed Trump on the eve of last year's election, said in March that Trump's feud with Canada was 'stupid' and bemoaned the fact that Canadians 'booed us over tariffs' during professional sporting events featuring teams from both countries. Advertisement Rogan has recently broken with Trump in other areas, including over wide-ranging deportations, referring to a recent operation to detain immigrants as 'horrific.' Just weeks before Election Day, Rogan taped a nearly three-hour podcast interview with Trump, an opportunity for the Republican nominee to highlight the hypermasculine tone that defined much of his 2024 White House bid. Bill Ackman The pro-Trump hedge fund manager warned Sunday on X that 'we are heading for a self-induced, economic nuclear winter' unless Trump took a more deliberate approach, likening the full tariff activation 'economic nuclear war.' In another post later Sunday, Ackman assailed Commerce Secretary Howard Lutnick as 'indifferent to the stock market and the economy crashing.' The next day, Ackman apologized for his criticism claiming that Lutnick — previously the head of the financial firm Cantor Fitzgerald — could benefit from the tariffs because of its bond investments. But the hedge fund manager also reiterated his concerns about Trump's tariffs. 'I am just frustrated watching what I believe to be a major policy error occur after our country and the president have been making huge economic progress that is now at risk due to the tariffs,' he wrote on X. Elon Musk Even the billionaire top adviser to Trump on overhauling the federal government is expressing skepticism about tariffs, which he has said would drive up costs for Tesla, his electric automaker. 'I hope it is agreed that both Europe and the United States should move ideally in my view to a zero-tariff situation, effectively creating a free trade zone between Europe and North America,' Musk said in a video conference with Italian politicians. Advertisement On Fox News' 'Sunday Morning Futures,' White House trade adviser Peter Navarro said that Musk 'doesn't understand' the situation. Musk fired back on Tuesday, calling Navarro 'truly a moron' and 'dumber than a sack of bricks.'
Yahoo
08-04-2025
- Business
- Yahoo
Joe Rogan and Dave Portnoy are among the Trump backers now questioning his tariff policies
WASHINGTON (AP) — As President Donald Trump's tariffs roil global markets, some of the thought leaders and influential podcasters who backed the Republican's campaign are voicing doubts. Barstool Sports owner Dave Portnoy, hedge fund manager Bill Ackman and even Elon Musk are adding their voices to a number of congressional Republicans who have weighed in against the tariffs set to take effect on Wednesday. Here's a look at some of what they've said: Dave Portnoy 'Welcome to Orange Monday,' Portnoy said on his 'Davey Day Trader' financial livestream, just before markets opened this week, saying there's 'no political agenda' to his commentary, other than to make money. After last week's market plunge, Portnoy said he had lost $7 million 'in stocks and crypto,' a figure he estimated on Monday was likely closer to $20 million, or up to 15% of his net worth. But, Portnoy has said, he plans to stick with Trump, whom he has called 'a smart guy.' 'I think they're smarter than me when it comes to these tariffs. I also think he's playing a high-stakes game here,' Portnoy said last week on his livestream. 'I'm gonna roll with him for a couple days, a couple weeks, see how this pans out.' Founded by Portnoy in 2003 as a free sports and gambling newspaper, Barstool has grown into a digital platform covering sports, lifestyle, and entertainment, with hundreds of millions of followers. Portnoy has been a loyal Trump supporter since first endorsing him in 2016, interviewing the president at the White House in 2020. Joe Rogan Rogan, one of the nation's most influential podcasters who endorsed Trump on the eve of last year's election, said in March that Trump's feud with Canada was 'stupid' and bemoaned the fact that Canadians 'booed us over tariffs" during professional sporting events featuring teams from both countries. Rogan has recently broken with Trump in other areas, including over wide-ranging deportations, referring to a recent operation to detain immigrants as 'horrific.' Just weeks before Election Day, Rogan taped a nearly three-hour podcast interview with Trump, an opportunity for the Republican nominee to highlight the hypermasculine tone that defined much of his 2024 White House bid. Bill Ackman The pro-Trump hedge fund manager warned Sunday on X that 'we are heading for a self-induced, economic nuclear winter' unless Trump took a more deliberate approach, likening the full tariff activation 'economic nuclear war.' In another post later Sunday, Ackman assailed Commerce Secretary Howard Lutnick as 'indifferent to the stock market and the economy crashing.' The next day, Ackman apologized for his criticism claiming that Lutnick — previously the head of the financial firm Cantor Fitzgerald — could benefit from the tariffs because of its bond investments. But the hedge fund manager also reiterated his concerns about Trump's tariffs. 'I am just frustrated watching what I believe to be a major policy error occur after our country and the president have been making huge economic progress that is now at risk due to the tariffs,' he wrote on X. Elon Musk Even the billionaire top adviser to Trump on overhauling the federal government is expressing skepticism about tariffs, which he has said would drive up costs for Tesla, his electric automaker. 'I hope it is agreed that both Europe and the United States should move ideally in my view to a zero-tariff situation, effectively creating a free trade zone between Europe and North America,' Musk said in a video conference with Italian politicians. On Fox News' 'Sunday Morning Futures,' White House trade adviser Peter Navarro said that Musk 'doesn't understand' the situation. Musk fired back on Tuesday, calling Navarro 'truly a moron' and 'dumber than a sack of bricks.' ___ Meg Kinnard can be reached at Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
Joe Rogan and Dave Portnoy are among the Trump backers now questioning his tariff policies
WASHINGTON (AP) — As President Donald Trump's tariffs roil global markets, some of the thought leaders and influential podcasters who backed the Republican's campaign are voicing doubts. Barstool Sports owner Dave Portnoy, hedge fund manager Bill Ackman and even Elon Musk are adding their voices to a number of congressional Republicans who have weighed in against the tariffs set to take effect on Wednesday. Here's a look at some of what they've said: Dave Portnoy 'Welcome to Orange Monday,' Portnoy said on his 'Davey Day Trader' financial livestream, just before markets opened this week, saying there's 'no political agenda' to his commentary, other than to make money. After last week's market plunge, Portnoy said he had lost $7 million 'in stocks and crypto,' a figure he estimated on Monday was likely closer to $20 million, or up to 15% of his net worth. But, Portnoy has said, he plans to stick with Trump, whom he has called 'a smart guy.' 'I think they're smarter than me when it comes to these tariffs. I also think he's playing a high-stakes game here,' Portnoy said last week on his livestream. 'I'm gonna roll with him for a couple days, a couple weeks, see how this pans out.' Founded by Portnoy in 2003 as a free sports and gambling newspaper, Barstool has grown into a digital platform covering sports, lifestyle, and entertainment, with hundreds of millions of followers. Portnoy has been a loyal Trump supporter since first endorsing him in 2016, interviewing the president at the White House in 2020. Joe Rogan Rogan, one of the nation's most influential podcasters who endorsed Trump on the eve of last year's election, said in March that Trump's feud with Canada was 'stupid' and bemoaned the fact that Canadians 'booed us over tariffs" during professional sporting events featuring teams from both countries. Rogan has recently broken with Trump in other areas, including over wide-ranging deportations, referring to a recent operation to detain immigrants as 'horrific.' Just weeks before Election Day, Rogan taped a nearly three-hour podcast interview with Trump, an opportunity for the Republican nominee to highlight the hypermasculine tone that defined much of his 2024 White House bid. Bill Ackman The pro-Trump hedge fund manager warned Sunday on X that 'we are heading for a self-induced, economic nuclear winter' unless Trump took a more deliberate approach, likening the full tariff activation 'economic nuclear war.' In another post later Sunday, Ackman assailed Commerce Secretary Howard Lutnick as 'indifferent to the stock market and the economy crashing.' The next day, Ackman apologized for his criticism claiming that Lutnick — previously the head of the financial firm Cantor Fitzgerald — could benefit from the tariffs because of its bond investments. But the hedge fund manager also reiterated his concerns about Trump's tariffs. 'I am just frustrated watching what I believe to be a major policy error occur after our country and the president have been making huge economic progress that is now at risk due to the tariffs,' he wrote on X. Elon Musk Even the billionaire top adviser to Trump on overhauling the federal government is expressing skepticism about tariffs, which he has said would drive up costs for Tesla, his electric automaker. 'I hope it is agreed that both Europe and the United States should move ideally in my view to a zero-tariff situation, effectively creating a free trade zone between Europe and North America,' Musk said in a video conference with Italian politicians. On Fox News' 'Sunday Morning Futures,' White House trade adviser Peter Navarro said that Musk 'doesn't understand' the situation. Musk fired back on Tuesday, calling Navarro 'truly a moron' and 'dumber than a sack of bricks.' ___ Meg Kinnard can be reached at
