BREAKDOWN: Travis Kling – In the Fed Era, There’s No Such Thing as Market Fundamentals
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 5 February 2021
⏱️ 78 minutes
🧾️ Download transcript
Summary
The Ikigai Asset Management investor discusses WallStreetBets, institutional investors and recent bitcoin critiques.
This episode is sponsored by Nexo.io.
On today’s episode, NLW is joined by Travis Kling, co-founder and chief investment officer of Ikigai Asset Management. They discuss:
- GameStop, WallStreetBets and financial populism
- Whether regulatory hearings will actually address any issues around retail investors
- How WallStreetBets relates to bitcoin
- The rise of institutional investors
- The end of career risk around bitcoin for investment professionals
- Why recent bitcoin FUD has been disingenuous
- How investors can price risk in bitcoin
- Where DeFi fits for institutional investors
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Transcript
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| 0:00.0 | There's layers of risk, systemic risk, opaque risk, miners, tether, counterparties, price |
| 0:06.7 | manipulation, regulation exchange hacks, hard forks, Bitmex death spirals, exit scams, other scams, |
| 0:14.2 | scammers, GBT, nav trade unwinds, sim swaps, code bugs, false rumors, true rumors, market illiquidity, Brad |
| 0:22.8 | Sherman's punk ass, Satoshi's million Bitcoin. And that's not even close to an exhaustive |
| 0:29.6 | list of the risks that are present. But over its history, Bitcoin's up like 11 million percent. |
| 0:38.5 | Welcome back to The Breakdown with me, NLW. |
| 0:42.7 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:49.5 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:56.1 | What's going on, guys? It is Friday, February 5th, and today I am so excited to share an interview with Travis Kling. |
| 1:04.9 | Travis is the chief investment officer at Ikigai Asset Management. Before that, he was a long-short equity portfolio manager at the $90 |
| 1:13.6 | billion. $0.72 hedge fund. But honestly, I don't need to go through Travis's credentials. You guys know |
| 1:19.5 | him. Travis is one of the most thoughtful observers, not just of the Bitcoin and crypto space, |
| 1:25.6 | but of the macro landscape as a whole. Now, I've known Travis |
| 1:29.4 | for a good long time now, and he only does podcasts in his own words when he really has |
| 1:34.9 | something to say. And this week, as you'll tell, he has something to say. So without any further |
| 1:41.0 | ado, let's dive into the conversation. |
| 1:49.7 | Travis, welcome back to the breakdown. It has been way too long. How are you doing, sir? |
| 1:56.0 | I'm doing great. Good to be here. Feels good. This is going to be a fun conversation. Just a little bit going on. 2021 is off to a start that I don't think any of us could be mad about. But let's start with, |
| 2:04.1 | I think, I want to start this week, something you and I have been talking about, going back |
| 2:07.3 | and forth, texting about for the last couple weeks, everything around GameStop. I know you, |
| 2:12.5 | like me, feel like this is a much more significant moment, let's say, than just a bunch of guys on an |
| 2:19.2 | internet forum happen to like a stock, even though they end all their posts with. I just like |
... |
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