Disagrees with Krugman that Bitcoin can't be valued. You can value it on network size, similar to valuing gold as hard money versus soft money supply.

Bitcoin decline itself won't be systemic. It's caught up in speculative frenzy/unfrenzy with meme stocks, non-profitable growth stocks, and treasury companies.

Likes them all. Stocks are the best compounder and should be the anchor asset. Gold and Bitcoin are diversifiers uncorrelated to equities and bonds.

AI is perhaps the greatest technological innovation ever, but with unknowns. Because the market ramped so high, when anything goes wrong, everyone exits first.