Cryptocurrency

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Calvin Klein: I have been terrible at managing my own psychology throughout different crypto bubbles. And i think one classic trait of a bubble is a lot of people, as you mentioned, who aren't necessarily intellectually invested in a particular area. If someone really intellectually invested, they believe in something, and they're in it for the long term, then i think you're going to see less bubble behavior. But this time i haven't pulled out. Not down by very much because i've been doller cost averaging for a while. It's fun, but i'm sertain there are potentially some much lower days ahead us.

At a time where several asset classes are at all-time highs, there's a lot of talk about whether we're in a bubble. That, coupled with crypto assets falling to ~half of their highs, prompted Cal and Steph to dive in to try to answer this question.

In this episode, they discuss the markings of past bubbles, the innovation hype cycle, the difficulty in profiting from nascent innovations, the importance of educating yourself and building your own conviction behind your decisions, managing your psychology (offense vs defense), the cyclical nature of market cycles, and of course... the burning question of whether they think we're in a bubble today.

They also share how they've fared in crypto and how they're thinking about investing moving forward (including Cal's foray into de-fi)

Recommended resources include the books "The Simple Path to Wealth" and "A Random Walk Down Wallstreet", as well as economic indicators like the Shiller PE ratio: https://www.multpl.com/shiller-pe

*** NOT FINANCIAL ADVICE *** :)