Markets are “expensive” because they have to be.
Too much capital, not enough high-quality assets. Most of CT doesn't even hold the highest quality asset, Bitcoin, because they can't speculate with it actively as the dominant asset.
We’ve got a record amount of capital parked in government proof-of-stake stable farms (aka Treasuries).
Recession this, recession that — meanwhile, every index is back at ATH. Some of the best allocators in the world are still sidelined. Lol.
On a long enough time horizon, everything goes to infinity.
Life’s too short to not be long.
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