>> WHEN YOU'RE AT THE WORLD
ECONOMIC FORUM, WORLD LEADERS
ARE PASSING BY EVERY MINUTE.
IT GETS EXCITING HERE AND
THERE BUT THE CROWDS STOPPED
AND PULLED OUT THEIR CELL
PHONE CAMERAS FOR THIS ONE.
THE CROWD GOT A DOSE OF
PRESIDENT TRUMP'S AMERICA
FIRST AGENDA AS HE WALKED
THROUGH THE CONGRESS CENTER AT
THE WORLD ECONOMIC FORUM.
OUR NEXT GUEST WAS THERE FOR
ROOM WITH THE PRESIDENT
DESCRIBING WHAT THE SCENE WAS
LIKE.
>> TO GET INTO THE ROOM, WE
WERE THE LAST TEN PEOPLE LET
IN BECAUSE THEY WERE SETTING
UP ROWS AND ROWS OF CHAIRS
RIGHT HAD NEVER SEEN CHAIRS
BEFORE.
THEY EVEN HAD A BREAKDOWN THE
SECURITY TABLE TO PUT CHAIRS
AT THE VERY BACK.
THE ROOM WAS PACKED.
>> AND I SAW PEOPLE HOLDING UP
CELL PHONES AND TRYING TO GET
A SHOT OF THE PRESIDENT.
>> YES, THERE WERE WORLD
LEADERS THERE EVERY YEAR.
I'VE NEVER SEEN ANYTHING LIKE
IT.
LAST YEAR IT WAS JUST A
DIFFERENT COMPACT
DIFFERENT CATPACT
LAST YEAR IT WAS JUST A
DIFFERENT CATEGCT
DIFFERENT CATEGORY
COMPLETELY.
THE EXCITEMENT AND THRILL OF
PEOPLE SEEING AN AMERICAN
PRESIDENT.
>> BECAUSE IT HASN'T HAPPENED
SINCE PRESIDENT CLINTON CAME
YEARS AGO.
WE WATCH THE SPEECH AS YOU
WERE WATCHING IT.
HIS TONE SEEMED VERY
MEASURED.
DOESN'T MEAN AMERICA ALONE.
>> I THINK IT WAS WELL
RECEIVED.
HE HAS HAD HIS TEAM HERE FOR
THE PAST FEW DAYS.
WE'VE ALL BEEN TO PANELS WITH
STEVE, ALAIN, WILBUR AND THEY
REALLY ALL HAVE THE SAME THING
TO SAY WHICH IS BASICALLY THAT
THEY'RE NOT ANTI- TRADE, IT'S
NOT JUST AMERICA FIRST, IT'S
AMERICA FIRST WITH EVERYONE
ELSE INCLUDED.
I THINK THE INTERESTING THING
THAT I NOTICED FROM THIS VISIT
IS THAT THERE SEEMS TO BE
PLAYING LIKE AN ORCHESTRA.
THEY WERE ALL SAYING THE SAME
THING AND NONE OF US WERE
REALLY SURPRISED TO HEAR WHAT
HE SAID SO WE SORT OF HEARD IT
FROM HIS CABINET MEMBERS OF
THE LAST FEW DAYS.
>> YOU ARE HIS NEXT-DOOR
NEIGHBOR IN PALM BEACH.
ALMOST LITERALLY NEXT DOOR.
YOU'RE ALSO A BILLIONAIRE REAL
ESTATE INVESTOR.
WHAT DID YOU THINK OF HIS
MESSAGE PERSONALLY, ASIDE FROM
THE FACT THAT IT WAS WHAT YOU
HAVE HEARD BEFORE.
>> WHAT, FOR ME, I CAN SAY
THIS.
HAVING MONETARY POLICY AS THE
ONLY GAME IN TOWN IS SCARY.
THAT'S WHAT WE'VE BEEN DOING,
11 TRILLION ON THE CENTRAL
BANK BALANCE SHEET, THAT'S
UNDERSTANDABLE.
WE NEEDED TO HAVE FISCAL
POLICY AND I'M GLAD WE DID.
I PROBABLY WOULD'VE DONE IT
LITTLE DIFFERENT TAX PLAN, I
PROBABLY WOULD'VE CUT THE
MAXIMUM TAX RATE BUT I
WOULD'VE BEEN DONE EARNED
INCOME CREDITS YOU CAN GET
SOME HIGHER WAGES TO PEOPLE
WHO NEED IT THE MOST.
IN GENERAL, I THINK AS AN
INVESTOR AND A DEVELOPER AND A
BUSINESSPERSON, THE ECONOMY
IT WILL HELP JOB CREATION.
>> A KIND OF ALREADY IS.
HUNDREDS OF COMPANIES GIVING
FROM THE POSITIVES, IT HAS
THAT SITUATION WHERE YOU SEE
THE ILLUMINATION OF THE STATE
AND LOCAL TAX REDUCTION, AND
THAT IS, AT LEAST IF YOU
BELIEVE THE PEOPLE WHO HAVE
BEEN CRUNCHING THE NUMBERS,
THAT WILL HIT OUTSIDE, GIVE IT
A BIGGER PAIN FOR STATES LIKE
CALIFORNIA AND NEW YORK WHERE
HAVE YOU BEEN ANTICIPATING HOW
RESIDENTIAL REAL ESTATE
HOMEOWNERS ARE GOING TO BE HIT
BY THE FACT THAT THEY CAN NO
LONGER WRITE THAT OFF?
>> I'M A FLORIDIAN AND MOST OF
MY REAL ESTATE IS IN THE WEST
PALM BEACH AREA AND SO I THINK
IT WILL BE A HUGE HELP FOR
US.
I THINK PEOPLE ARE GOING TO
CLOSE THEIR BUSINESSES IN NEW
YORK AND MAKE ALL THEIR
EMPLOYEES SELL THEIR HOME AND
THE MARGINAL MOVER, SOMEONE
WHO WAS SORT OF THINKING IN A
FEW YEARS WERE GONNA MOVE TO
FLORIDA AND GET OUT OF NEW
YORK, GET OUT OF CALIFORNIA,
IT MADE
IT MAKES THE DECISION
THAT MUCH EASIER BECAUSE WHEN
YOU 13 INSTEAD OF SIX AND A
HALF PERCENT, IT MAKES THE
DECISION THAT MUCH EASIER.
I THINK WILL PUSH A LOT OF
HIGH NET WORTH INDIVIDUALS WHO
ARE ACTUALLY BIG TAXPAYERS TO
MOVE TO THE TAX-FREE STATE
INCOME TAX STATES LIKE
FLORIDA.
>> INTERN DO YOU THINK THAT
WILL STRIKE FEAR IN THE HEARTS
OF GOVERNORS OF CALIFORNIA,
NEW YORK AND THE OTHER HIGH
TAX STATES THAT WE CAN PUT UP
ON THE SCREEN SAY WE'VE GOT TO
FIGURE HOW TO BRING OUR STATE
RECENTLY, 76% OF ALL PRIVATE
EQUITY, I DON'T KNOW THAT IT
WILL PUT FEAR IN THOSE
PHYSICAL INFRASTRUCTURE WHICH
ATTRACTS BUSINESSES, AND SO,
I'M NOT SURE WHERE THAT'S
GOING TO GO BUT OVER TIME, IT
WILL TELL.
>> YOU'RE ALSO A MAJOR STOCK
INVESTOR.
YOU SHORTED TWITTER AT $70.
THAT WAS LIKE A BRILLIANT
TRADE.
THE DOW, HITTING LIFETIME
HIGHS AGAIN AND AGAIN.
S&P AS WELL.
WHAT ARE YOU SHORTING NOW?
FOR ME I'M CAUTIOUS, I HAVE A
LOT OF CASH, I'M HAPPY TO MAKE
ONE OR 2% RIGHT NOW AND JUST
BE READY BECAUSE I THINK AT
SOME POINT THIS MARKET WILL
START TO CORRECT AND MOVE DOWN
JUST BECAUSE OF WHAT I JUST
SAID.
I THINK AT SOME POINT THESE
VALUATIONS, WERE GOING TO HAVE
A CORRECTION.
IT'S BEEN A LONG WAYS UP AND
WE ARE DUE FOR A SIGNIFICANT
CORRECTION.
>> YOU GOT TO REALLY WITNESS
THE BIG CROWDS.
THEY LOOKED LIKE THEY WERE
EVEN BIGGER FOR ONE OF
PRESIDENT TRUMP'S FORMER
EMPLOYEES WHO HAS THAT TRAIL
OF PAPARAZZI.
THE PRESIDENCY DIDN'T EVEN
HAVE TO WEAR SUNGLASSES.