Macro Guru Raoul Pal Explains his Strategy in Times of Turmoil
In a new appearance on the popular Ethereum-focused YouTube channel and podcast, Bankless, Real Vision CEO and macro guru Raoul Pal detailed his portfolio and explained on the actions he has taken to maintain his wealth in times of turmoil.
Bankless was recently removed from YouTube without a warning or justification, but got its account quickly reinstated.
Pal said:
“I’ve not sold a single thing. I’ve started to average in on the ‘growth’ tech stocks… [going] into the carnage because if I’m right and this is a super trend, a super cycle, then you want to be owning this stuff for the long run.
Which companies are going to succeed or fail? We don’t know, so you buy baskets of stuff, much like you might do if you wanted to capture the movement in crypto. Crypto’s the same. If you believe that that network adoption continues, then this is when you should be buying.”
Concerning his exposure in cryptocurrencies, Pal said that to complement buying baskets of riskier assets, he also dabbled into call options on leading smart contract platform Ethereum (ETH):
“I’m trying to capture the overall space. As ever, a bunch of the more speculative end of stuff always feels terrible in the bear market, and who knows what’s going to survive and what’s going to work? But that’s the thesis and that’s why you buy a basket, and it’s only a small part of the overall [investment portfolio].
Since then… I had a go at buying calls on ETH to say if the previous pattern kind of held out then we could have seen a run in December through to March, which failed to happen, but I added 5% in call options and that didn’t work out.”
According to the former Goldman Sachs executive who is now based in the Bahamas, non-fungible tokens (NFT) are an interesting niche as he cites Yuga Labs’ Bored Ape Yacht Club (BAYC) as an example of the community-focused model that he has been looking for:
“I bought some NFTs. I got involved in the Bored Ape thing because… I love what Yuga was doing, that’s the playbook that’s been in my head, which is you build engagement and utility with NFTs and then you build a social token around it. That’s been the playbook that I’m building a business around as well.
The moment I saw that the ApeCoin (APE) was actually coming out and saw what they’d done with Larva Labs, I thought I need to get in and I want to own part of this ecosystem and hold it for the long run because this is something very interesting.”
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Source: igaming
