Value Investing and Bitcoin with Peter Doyle
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Value Investing and Bitcoin with Peter Doyle - WBD345
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Location: Remotely
Date: Wednesday 21st April
Company: Horizon Kinetics
Role: Co-Founder & MD
Value investing is a simple but highly effective strategy used by some of the world's most renowned traders, most notably Warren Buffet. These investors hunt out stocks that they believe to be trading below their true value. The theory is that the market overestimates both good and bad news, which means stock or asset prices can swing wildly askew of their actual value, and they then look to capitalise on this by buying cheap and holding for the long term.
It is easy to argue that Bitcoin fits perfectly into this category. If you believe that Bitcoin has the potential to become the world's premier store of value and absorb a large portion of gold's market cap, then at a $1trillion market cap, bitcoin seems massively undervalued. However, many value investors, including Buffet, refuse to accept Bitcoin.
Peter Doyle is a value investor who believes that bitcoin has a crucial role in our future. Not only just as a store of value and a hedge against inflation but also as a way of removing monetary policy decisions from the central bankers and politicians.
In this interview, I talk to Peter Doyle, the Co-Founder and MD of Horizon Kinetics. We discuss the risks of high inflation, value investing in the current macro environment and why the world needs Bitcoin.
00:04:17: Introductions
00:05:41: Peter Doyle's investment thesis
00:07:38: Different types of bonds
00:09:05: Preparing for the global debt crisis
00:13:17: Understanding inflation
00:15:57: Rising commodity prices
00:18:56: Peter Doyle's journey down the rabbit hole
00:24:27: The pension struggle
00:26:43: What could a dollar collapse look like
00:30:40: Traditional investor thinking
00:32:39: Having a growing confidence in Bitcoin
00:36:07: Having a lack of confidence in Bitcoin
00:38:08: The inflation rise has started
00:40:56: State adoption
00:45:06: Fiat collapsing against Bitcoin
00:48:38: To spend Bitcoin or to save
00:50:19: The question of hyperbitcoinisation
00:52:17: Bitcoin vs gold and other metals
00:54:21: Investment advice
00:58:02: Portfolio suggestions
01:02:34: Final comments
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Mentioned in the interview:
Peter Doyle on the Joe Robert Show: Starting & Growing Your Bitcoin Portfolio
U.S consumer prices surge in March, CPI finds, pushing inflation to 2 1/2-year high
U.S. Producer Prices Increased by More Than Forecast in March
Lebanon's President Aoun holds central bank responsible for crisis
NY Fed's Williams says strong growth not enough to affect monetary policy
Fed decision April 2021: Interest rates held near zero, sees faster growth
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