As big moves in both Bitcoin and equities lead investors to question whether market bubbles are about to burst, macro investor Raoul Pal says he’s looking at things from a different angle.
In a new video, Pal says questions about bubbles may miss a bigger picture of what’s happening in certain sectors of the economy.
“As you know there’s an incredible amount going on and it’s becoming increasingly difficult to make sense of it all. What’s real, what’s not. And the question we’re all asking is ‘Is this a bubble?’ And I don’t even know if that’s the right question to ask…
Our own perceptions can become our investment biases as well, where ‘I don’t like crypto, therefore it’s a bubble,’ or ‘I don’t like US equities because they’re very expensive right now. They’re a bubble.’ But mostly, these things are shades of grey and many reflexive trades that many identify as bubbles can go on a lot