I used to watch Squawk Box every morning for probably 30 years, but not anymore. I watched this video and was really surprised that the flaws of the fiat monetary system is now freely discussed in MSM. That's good. Of course Dalio talked more about gold and silver than bitcoin.
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It’s hard to take these shows seriously and this guy seriously.
Dude is worth billions let me go on this show and drop some “knowledge” on the peasants so they can play my game
So he's basically saying:
Is that a bad strategy?
Yes! It’s terrible strategy!!
That doesn’t move the needle much
The Mag 7 and tech has been pumped beyond belief.
Bonds have always underperformed period!! This is a no brainer to anyone who has a net worth under $100M
But if you hate risk then sure this advice makes sense for the drones who watch this slop
We're totally talking past each other I feel... why?
Mag 7 isn't tech adoptors, I understand what he's saying as the businesses that successfully implement things like AI well and ride the wave of disruption in their favor - perhaps still Nasdaq but defo not Mag 7, with as only exception maybe Tesla (though to your point, that already has it priced in, so not very opportune, plus why is Tesla still part of Mag7 anyway?)
Bonds have always been a safety bet, not for performance but for reliability. My life insurance used to be 25% bonds allocation just for that reason, so that bottom line if shit hit the fan, I would at least get 25% of what I put in plus compound interest. But I largely reduced that allocation in favor of "boring" ETFs that have things like retail and distribution, since ZIRP, because that to me was the second signal that shit was breaking down - after the 2008-2010 bailout insanity.
Bonds have been the default diversification strategy ever since "modern" 1971 finance though. If he's right (and in this case it means that we have been right) and this safety is gone now, Dalio's message ought to make a lot more people that actually have these kinds of constructs think about their portfolio and see the world a little more our way. I think it is good if people see things a bit more our way?
Yeah. That's another reason I don't watch this stuff anymore.
What made you stop?
He mentioned it though, and I feel that in formulating it as a question ("Is money digital?") he avoided any display of bias. I like that, as there's no need to be biased about hard money. Non-toxic observations and questions are good for Bitcoin-as-money.
I stopped because I have lost interest in stock markets and don't have skin in the game. You're right about Dalio. He was neutral about bitcoin while politely trashing fiat.