AI's Real Bottleneck Is Energy — and What It Means for Your Money
In this episode of The Millionaire's Lawyer, JP McAvoy sits down with Nic DeAngelo, President of Saint Investment Group, to map the next decade of wealth building. Nic explains why the energy crunch will decide which AI infrastructure actually gets built, why he treats hard assets — real estate and Bitcoin — as his core inflation hedge, and why the S&P 500 is far less diversified than it looks, with the top 10 companies now roughly 75% of the index.
They also get into the Fed under new chair Kevin Warsh, how every $10 move in oil feeds straight into US inflation, and a dollar that's lost 99% of its value since 1913.
Nic's parting advice, learned inside family offices: stop thinking in quarters, start thinking in decades. If you want a framework for where real estate, equities, energy, and crypto are heading, this conversation gives it to you.
Connect with Your Host, JP:
Episode Highlights:
03:05 Stock Market Concentration & the Real Estate Outlook
06:22 Inflation and the Fed's Dual Mandate
11:29 Geopolitics, Oil & Inflation
13:53 Real Estate Strategy: Supply–Demand Imbalances
18:48 The Shrinking Dollar & US Debt
25:35 Bitcoin & Crypto as an Inflation Hedge
28:33 Industrial, AI Data Centers & the Energy Bottleneck
37:04 Think in Decades: Long-Term Investing
Resources:
Get Your Copy of JP’s Book
