Cryptocurrency mining and Horizon Kinetics’ approach to mining with Murray Stahl, Chairman and Chief Investment Officer, Horizon Kinetics LLC. Hosted by Hugh Ross, COO, Horizon Kinetics LLC
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The value of the entire stock market relative to GDP – perhaps the most fundamental valuation measure – is pretty much at an all-time high; interest rates aren’t much above their recent all-time lows; the Federal debt/GDP ratio, despite one of the lengthiest economic recoveries on record, is at a high exceeded only in the immediate aftermath of World War II. Yet, despite this traffic jam of systemic risks, and for whatever reason, investors feel sufficiently at ease that they don’t require a real interest rate above zero, or lower stock valuations, as if there financial markets rest in a comfortable equilibrium.
Real questions from real people (continued) with Steve Bregman, President, Horizon Kinetics LLC. Hosted by Hugh Ross, COO, Horizon Kinetics LLC.Download the Transcript
Real questions from real people with Steve Bregman, President, Horizon Kinetics LLC. Hosted by Hugh Ross, COO, Horizon Kinetics LLC.Download the Transcript
For the first time in quite a long while, clients have been asking about whether their portfolios contain any inflation beneficiaries, whether there’s much leverage. Really, these questions are about practical, functional diversification (as opposed to what the mind recognizes as ‘lip service’ diversification). There is a sense that all the investments are crowded into the same place and are more and more governed by a few shared risks. And perhaps there’s an unasked question, what happens when the music stops, whichever music it is that has made it all work so far.