Hacker News Reader

Comment by silexia | Hacker News Reader

Lyn Alden has become my favorite macroeconomist through the Covid crisis. I bought a bunch of puts in February 2020, they went way up in March till the Fed stepped in and then went down. I went looking for answers on how to understand macroeconomics and Alden has had a lot of interesting takes on it.

View on HN

If you find that interesting, I highly recommend the Grant Williams podcast. Particularly the episode with Lacy Hunt. But the entire Endgame series is really, really good.

If so, assets such as global equities, quality residential real estate, precious metals, industrial commodities, and alternatives such as Bitcoin, are likely to do well.

Do you plan on shifting your investment strategy?

I don't like Bitcoin and I disagree with Alden on that in investment. I am also not a fan of precious metals.

I currently have the majority of my portfolio in stocks in Australia, Sweden, Japan, Switzerland; in residential real estate, and in puts on overvalued tech stocks and TLT.

You're shorting TLT? The Fed is on the other side of that bet, I dare not go against the Fed.

Yeah, that position was the mistake I mentioned in my first post. The bias ask spread is so large that it it painful to exit it though. And the Fed may be forced to back off if inflation kicks up further, we will see.

What’s wrong with Bitcoin?

If legislation came against it, it would have it's value damaged. No one seems to use it for actual transactions. It uses enormous amounts of electricity.

And a vast majority of BTC is owned by the Bitfinex criminals who created Tether. You can't win against the bank and in this case the bank is the Ponzi schemers themselves.

> It uses enormous amounts of electricity.

Consider that the "proof of work" of fiat currencies is taxation + inflation (which wipes 1/2 of all your productivity), and you'll quickly realize that Bitcoin's PoW is considerably more efficient.

Also, Gold, Silver and other precious metals are more expensive to mine than Bitcoin, when measured on a store of value basis.

Reply on news.ycombinator.com