MACROVOICES Ep. 302

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RECAP:

• Bonds are defunct – they are no longer sensitive to inflation.

• They are also supposed to counterbalance equities and they no longer fulfil that function.

• Equities have similar issues – extreme valuations and extreme concentrations.

• Short-termism is the underlying cause of some of the conditions in markets and society at large.

• The alternative lies in accessing the real economy in a decentralised manner.

• The new capital markets of digital assets and digital lending offer an intriguing proposition to institutional investors.

• Fintech channels (digital lending) offer an attractive alternative to traditional bond markets.

• Banks are retreating from lending to SMEs.

• They suffer with legacy infrastructure and regulation.

• The gap may be filled by institutional investors.

• The digital assets market is not quite ready for major institutional adoption.

• The investment community should try build future-proof portfolios.

• We see a world in which more assets are investable.