crypto 6
- Bitcoin's roughly $2 trillion market capitalization is still early relative to its long-term adoption potential.
- Decentralized finance mainly converts custodial risk into technical risk rather than eliminating risk altogether.
Lyn Alden
Investment researcher and engineer who runs Lyn Alden Investment Strategy, writing on macroeconomics, currency systems and equity analysis.
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What Lyn Alden says most about
investing 6
- Private equity's short fund cycles push firms toward aggressive cost-cutting that erodes what made an acquired business successful.
- Businesses acquired by private equity funds fail more often than average because of the leverage loaded onto them.
America 3
- A large generation of small business owners is aging and looking for liquidity or diversification as they plan succession.
- An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation.
inflation 3
- An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation.
- Structural fiscal deficits have surpassed private sector lending and monetary policy as the primary driver of economic activity and inflation.
interest rates 2
- Raising interest rates cannot meaningfully cool inflation when structural fiscal deficits, not private-sector lending, are its main driver.
- A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility.
market efficiency 2
- Bitcoin's use as a medium of exchange will only grow at scale if it solves problems for spenders or recipients better than existing alternatives.
- Utility blockchains that provide useful services tend not to accrue much long-term value to their coinholders, unlike a winning monetary protocol.
public debt 2
- Structural fiscal deficits have surpassed private sector lending and monetary policy as the primary driver of economic activity and inflation.
- The United States is not at risk of a financial crisis caused by the size of its government debt.
stock market 2
- Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals.
- Daily-reset leveraged ETFs underperform their underlying asset over volatile periods, making them unsuitable outside short-term trading.