Do we have the wrong denominator?
Many of us believe that Fed money printing is creating an asset bubble. But when we switch the denominator to the Fed balance sheet equities looks fairly priced...
"I came to the conclusion that #btc was going to be the best of the inflation trades--the defensive trades," says Paul Tudor Jones. "Bitcoin has a lot of characteristics of being an early investor in a tech company...it's like investing with Steve Jobs and Apple."