#8: Raoul Pal on Putting Together the Global Macro Puzzle
Superinvestors and the Art of Worldly Wisdom
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The Relative Value of Assets
I was pretty early in Bitcoin, and then sold out recently into this big up move. I think the narrative may have changed now, and I'm not sure that the narrative is any longer correct. But there's very few of those. Most of the world is all about relative value. Equities have a relative valuation versus other things because we will have a marginal propensity to own things that are cheaper over time than more expensive.
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