The chief executive officer of Real Vision said that risky assets including Cryptocurrencies may be better options in the future downturn in the economy.
Raoul Pal is the CEO & co-founder of Real Vision. He is also a former Goldman Sachs executive. Usually, he keeps studying & analyzing the current money market situation and also keeps his followers updated on the ongoing ups & downs in the economy, which includes the digital assets market, stock markets & US economy.
On 28 September, Macro guru Raoul Pal talked about the future of the economy and said that it may probably face a significant downturn, during the Twitter space podcast hosted by RealVision.
“We will see the economic data over the next few months utterly collapse. We will see the inflation narrative utterly collapse, and we’ll be left with the tatters,” RealVision CEO said.
Raoul said that risky assets like cryptocurrencies & stock assets may not drop significantly during the economic turmoil which has already been mostly priced in.
Further, he said that he has never seen this type of negative sentiment over the last 40-50 years of time frame, whether it was sentimental study of an institutional investor, its market positioning, whether it’s the BOA [Bank of America] Merrill Lynch survey.
Former Goldman Sachs executive said that we may see a 10% spike lower in the S&P 500 but he will not be a buyer at those levels.
Further Real Vision CEO said that In June of this year during the significant downfall in the crypto industry, he successfully purchased at the bottom
Raoul claimed that there are huge chances that the Fed may decrease the interest rate points, despite a series of rate hikes and hawkish this year.
“I’m still a believer that bond yields come down much sharper than people expect over time and the Fed is forced to change their stance,” Raoul said.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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