During these days of pandemic and economic blows the question is often asked as to what stocks to buy. This query is so constant it is always trending in Twitter and Google searches. “Look at all the stocks that have gone down!” “How can I take advantage of all the bargains?” “Everything is so cheap!”
I manage three blogs –- carlkruse.com, carlkruse.org and carlkruse.at – where I discuss current events and random topics, but as a former VC, people somehow think I have secret knowledge or maybe traffic in the dark arts and can guide them to unheard of gems. Nothing to do with my blogs, but every day my inbox is graced with messages from people seeking a “hot pick,” meaning a stock that will skyrocket whenever the market turns around.
And to all inquirers I am sorry to disappoint. Given the never before seen quantitative easing from central banks, especially the U.S. Federal Reserve, and the stimulus policies of governments involving massive debt borrowing and the ongoing effects of the pandemic, I tell one and all that stock markets are overvalued. Stay in cash. Lay low. Go do something else. Few seem to believe me. “Where is that hot pick?” everyone continues to ask
There are however two assets that I can recommend:
(1) Gold, which is a worldwide store of value for more than 5000 years and a hedge against inflation and calamitous times.
(2) Bitcoin, a new gold, a Gold 2.0 so to speak. Just like gold, it’s scare, hard to make, hard to fake, non-sovereign and fungible, and unlike gold, it is transportable, programmable, easily divisible, cannot be seized by any power, and has a set limit on its total output. It can be exchanged by any two parties without a trusted intermediary, such as a bank. Bitcoin is the smell of freedom, designed and built for these times.
I wrote a quick article on all of this, which if you like you can check at – Carl Kruse Blog Discusses Bitcoin. TL;DR – the best asymmetric bet around given the macro factors besetting us is bitcoin.
So in answer to all the queries about what stocks to buy – don’t buy any. Get some bitcoin.
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