Jeff Park Says the 60/40 Portfolio May Be Dead. Here’s His Radical Fix - Ep. 844
Episode publishedPodcast: UnchainedUnchained
Transcript preview
Preview only
I think at the core, it's important to understand this for the radical portfolio because everything we know about investing is based on the belief of the dollar. And the tension here fundamentally undermines that the dollar may not continue to serve its role in the ways that the tensions could break unless there was a great reimagining or reinvigoration of what the dollar could be. And I think there's a role for crypto and Bitcoin specifically to potentially play a role in that.
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin. Every episode, we're featuring quotes from listeners on the show. Today we have one from Jon Harr on X responding to our recent episode on crypto treasury companies with Pantera Capital's Cosmogeon. Jon says crypto treasury companies are not everywhere. There are lots of sizable Bitcoin treasury companies and more coming. Tapping debt slash equity markets to buy nonsense crypto tokens not named Bitcoin will not catch on in any meaningful way. If you want your comment featured, write a re
Laura. How's it going?
Really good. Super excited to have you. Your posts on crypto Twitter reflect a background that makes you very much the man of the moment. Your insights from your experience, both in the traditional and crypto markets, blend together in a unique way that I think generates a lot of interest in your social media posts. But before we get into crypto, I wanna take everybody all the way back. You started your career at the height of the two thousand and eight financial crisis. Tell me about that. What did you experience? What did you learn? How does it shape your investment and trading mindset today
Yeah. So I think it shapes everything, Laura, that I've ever known in the industry as I've grown alongside both for Wall Street and crypto. I think for me, the number one thing I took away is truly that nothing you ever thought you knew can always be something you can build foundations on because the world is ever so dynamic. And, you know, I graduate from Stanford with a lot of enthusiasm, a lot of optimism, a lot of hope for all the great things that you're told at school you're gonna accomplish, some amazing things. And, you know, training the training floor itself can be a little bit bruta
Yeah. I think what's interesting is, like you said, that because you started at that time that, you know, it kind of made you more open to Bitcoin. But, you know, the fact of the matter is that Bitcoin got started right around then. And so a lot of other financial professionals should have either maybe had the same realization or, you know, the ones who lived through that experience. Like, they, you know, could have used that also to inform their views. But as we all know, there are some very, experienced in in fact, esteemed people in TradFi who just did not see Bitcoin for a long time until
Yep. So I learned about it pretty early on the trading floor. It was probably around 2010 or so. And the reason was and you'll find this commonality is that there were a lot of traders, who also play poker. And back in the early two thousand tens, using Bitcoin as a way to kinda settle your winnings amongst your peers and friends under the guise of, otherwise what could sometimes be perceived as unscrupulous behavior. That is the world of betting. Bitcoin was prominent. It was fairly prominent. So I have a lot of friends who actually use Bitcoin as a way to just kind of transfer money in ways
Wait. For, like, whoever lost would have to pay the winner in Bitcoin? Yeah.
Yeah. Yeah. Exactly
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.