A fantastic presentation by Raoul Pal Introduction to the Exponential Age
This for me was worth a share. Crypto is on fire again, with little sign of cooling. With the amount of banks, institutions, and companies who have invested hundreds of millions of dollars with the intent to hold long-term this may be the "super-cycle" everyone is talking about? The conditions of this bull market are so interesting.
Raoul argues that crypto is a "black hole" that is sucking in all of the world's talent and value at a speed that no one can comprehend and that its capacity to generate phenomenal returns for investors is not temporary but rather part of a durable long-term trend that is at the vanguard of what he calls "The Exponential Age." Raoul contends that since central banks have suppressed the volatility of currencies and interest rates, large "macro" on heavy swings in these variables no longer offer the opportunity they once did and that it is in the world of crypto where these outsized returns can be found.