Mike Alfred joins for me a look into the book "The Dao of Capital" by Spitznagel and for a general conversation on strategy, time preference, and Bitcoin.
Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/
OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 Bitcoin Twitter 00:03:27 Spitznagel’s Early Trading Days 00:10:33 Taking Small Losses Early and Quickly 00:16:06 Staying Patient in an Elevated Time Preference Fiat Environment 00:22:05 Investment Strategy and Poker 00:27:46 Delaying Short Term Volatility 00:30:03 The Illusion of Wealth Creation Through Inflation 00:35:52 NYDIG 00:37:00 The Art Economic Action 00:39:44 Ancient War Strategies 00:49:39 Misesian Philosophy & Austrian Thinking 00:56:51 The Market’s Natural Interest Rate 01:00:25 Bitcoin’s Monetary Neutrality 01:03:40 Intertemporal Investing 01:07:06 Spitznagel’s Investment Strategy 01:15:21 How Changes in the Economy Could Affect His Strategy 01:19:07 Bitcoin Barbell Strategy 01:27:40 Spitznagel ETF? 01:31:43 Structuring an Investment Strategy to Beat Bitcoin is a Bad Idea 01:39:12 Conviction in Bitcoin Buy and Hold Strategy