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The Challenges of a 60, 40 Portfolio
In a deflationary world, when you had a 60, 40 portfolio, it did well because as deflation, bond did well and equities did well. Now that we're transitioning to a more inflationary environment, the same thing doesn't happen. Historically, the argument against crypto is that it doesn't generate yield. Increasingly, we're seeing that that's not the case as Bitcoin actually can generate yield. Stablecoins can generate quite a high yield, 10, 12, 14%. Bitcoin slightly a lower yield, and it's sort of because you can lend to other people who want to go along with Bitcoin. I don't think this type of technology is going to go forward but