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BTC136: The FED Pause & Q2 Current Events w/ Luke Gromen (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
The All-Weather Risk Parity Portfolio
One important point to note is that the moves in equity indices are primarily driven by a small number of companies, not the entire market./nApple has consistently reached new highs even during the bear market of 2022./nThe comparison of assets, such as NASDAQ and gold, in 20-year bond terms instead of dollar terms is an interesting concept./nIn the past, re-denominating assets into 20-year bonds has consistently outperformed the dollar, except during the 2020 COVID event./nContinuing to re-denominate assets in 20-year bonds may lead to a significant comparison advantage in bond denomination./nRisk parity, particularly the classic 60-40 portfolio, is not likely to be effective in the current and future market conditions./nLong duration bonds are expected to perform poorly compared to other assets, especially in the face of negative real interest rates./nThe high levels of debt and the trajectory of inflation raise concerns about the potential default on debt by countries./nWhile Japan has been an exception to the 2% debt threshold, even Japan is facing difficulties now./nIt is unlikely that we can return to pre-debt threshold conditions, and policymakers may have limited options to manage the situation./nThe focus on credit crunch suggests an overweighting of cold Bitcoin and industrial equities tied to electrical generation as personal investment strategies./nThe outcome of the current market dynamics seems almost certain, and it is a matter of waiting for it to unfold.
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