How do you value bitcoin or gold or the magnificent 7? (5:02)
Hugh Hendry joined us for over an hour in 2H 2023 in what was an amazing conversation about markets, inflation, the U.S. debt and U.S. debt ceiling issue, how and why the Magnificent 7 stocks are dominating the market, asset allocation, plus his ideas about bitcoin, and Apple. Often, in these longer conversations, so many different things get covered, such as how do you come to a valuation of assets like bitcoin, gold or more prevalently, the Magnificent 7 megacap stocks that have ruled market performance over the past year?. Over the next couple of weeks we'll unpack some of the treasures from that conversation.
Today, please enjoy the third in this series, Hugh Hendry's take on bitcoin, gold and the Magnificent 7 - Is the particular momentum of the market due to risk-seeking or is it oddly a byproduct of the psychosis of risk aversion?
You can listen to the full and fascinating conversation from mid-year here.
Part 1 of this series, How to make the 'Debt Ceiling' and 'Supply' problem disappear?, is here.
Part 2 of this series, The Growing China problem?, is here.
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