In this episode of Empire, Jason and Santi are joined by Eric Peters, the founder and CEO of One River Asset Management. Eric, a renowned macro investor, made a splash in the cryptoverse in November 2020 by making a $600M BTC purchase before sagely exiting the market with a $1B+ profit.
Eric shares his views on the current macro cycle, investment strategies, the future of DeFi and crypto's inevitability.
Highlights include:
- The state of macro and why inflation was a choice
- End of the 60-40 portfolio
- Why this market cycle is over
- The catalyst behind Eric's $600M BTC purchase
- How to "time" markets
- Why current DeFi implementations won't cut it
- Crypto's breakout moment
- Why Bitcoin is the most interesting trade
- When will the Fed reverse course
- What Eric would tell his younger self
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Referenced in the show:
One River Asset Management
https://www.oneriveram.com/
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(00:00) Intro
(01:49) The Current Macro Environment
(07:06) How Eric Navigates Market Cycles
(11:19) Deflationary Cycles & Expensive Ubers
(17:04) Inflation is a choice
(21:42) The $600M BTC purchase
(27:26) How Do You Time the Trade?
(33:20) Paraswap Ad
(34:26) How to think about asset allocation
(39:20) Why Eric's firm doesn't touch DeFi
(43:27) Why Crypto is Here to Stay
(49:55) DeFi's Zero to One Moment
(55:00) How Eric views BTC
(1:02:33) When will Bitcoin's price recover?
(1:09:08) The 80 Year Debt Cycle
(1:16:15) Eric's advice to his younger self
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
