Below is a brief excerpt transcribed from Tuesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.
What’s going on with Gold?
Gold is down because bond yields are up. It’s down another 2%. But Gold Volatility got above 41 yesterday, never mind 31! And it could go to 51!
When people look at the relationship between asset prices of volatility, you start to learn a lot more than listening to the people who are selling you a narrative. People who are just marketing the product.
What person told you to sell bitcoin when we did? Nobody!
They don’t understand that the volatility of bitcoin started to accelerate and then you get a 50% decline in bitcoin. In a month!
Write this down: Assets flow towards asset classes with falling volatility. They loathe and leave asset classes with rising volatility.
