[ullmandds]

Originally Posted by joshuanip

The shoeshine boy reference is more of an economic signal in terms of level of risk taking and level of demand over stocks for pieces of paper with registration numbers (stk certs)

I do find it funny as much as Wall Street have been waiting for the retail suckers to buy their large cap tech stock, they are getting derailed because these investors are instead buying Bitcoin, speculative micro cap names and SPACs. Now these same Wall Street egos are watching Bitcoin in angst. (We were so hesitant to put gold in our mandated portfolios before Bitcoin, let along pulling the trigger on Bitcoin now). If you look at proclaimed pm’s on Twitter, many don’t hold Bitcoin, but they are definitely following it on their follows...

But to bring back to topic, I find the analogy of prewar (to appease bird sticklers) versus modern to gold versus Bitcoin. The former is natural scarcity versus manufactured scarcity. The former is historically stable, but the latter is more in fashion. And most obvious, the former is significantly underperforming the latter. Time will tell.

I’m overweight prewar and gold...

good analogy!