David time for our daybreak first take. We discussed the top three stories of the morning. First up, equities on the rebound. Second, the outflows from the bond funds. Rd, dreamers did not third, dreamers. They did not get to an agreement in the senate. Michael mckee, we want to start with u. S. Stocks. We are back where we started the year, despite the turmoil. U. S. Stocks are where they started the year. Much. An stocks, not so they have lagged behind. Are we in the midst of a rate hike tantrum. We had seen a thin reaction. There are two points here. Performance in five years, that is silly. We went down, we went up. If you are looking at this, you the to see, not so much absolute level, but what kinds of things are being bought and what is being sold. Other assets are highly risky. Did come in and clean out the safelyso you can more move up. Make the case that equities can still rise. What happened the last couple of weeks, was it a tantrum or did weeks the constructive moves . Has
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What We Learned from David Swensen May 12, 2021 8:30am by Barry Ritholtz
I chatted with Tom Keene on what I learned from Yale’s David Swensen, why this is not the Elon Musk top, the folly of choosing sectors, and how bull markets end.
(Note: I got the Druckenmiller OpEd exactly backwards)
Elon Musk debate: Why bitcoin, why now?
With the price of Bitcoin surging due to an endorsement from entrepreneur Elon Musk, industry expert Stephen Kelso of ITI Capital discusses the rise of cryptocurrency and its attraction for investors
Bitcoin - ITI Capital sees huge potential for investors On 2 February 2021 10:48 As an emerging markets-focused multi-asset prime broker, ITI Capital provides access to over 100 markets around the world. Emerging markets are characterised by less efficient capital flows and we enable access for our clients and counterparties to these markets. ITI observes that digital assets, and Bitcoin in particular, are an extension of the emerging markets investment phenomenon. Simply put, they make more difference to more people’s lives in emerging markets.