""I've been looking for a blow-off in equities for over three years now - followed by the worst crash since 1929," Mark Spitznagel, the founder and chief investor of Universa Investments, told Business Insider in a recent email."
""That blow-off is still in process," Spitznagel said. "Probably will culminate in the months ahead.""
""I'm a big believer in AI," but "asset bubbles have a hype that is independent of the underlying idea.""
"'I remain a believer in gold's long-term thesis, but I expect it to fall - precipitously - alongside other risk assets when the turn comes,' he wrote. ' Like crypto, it is an upside play here.'"
A blow-off top in equities is expected to culminate in the months ahead and to be followed by a crash comparable to 1929. Hype around AI, anticipation of interest-rate cuts, and elevated government spending have driven stocks to historic highs with little interruption. Gold has reached record levels amid similar speculative fervor and is seen as an important asset over the long term. Tail-risk hedging strategies are being used to protect portfolios from rare, extreme events. However, gold and other risk assets could fall precipitously alongside equities when the market turns.
Read at Business Insider
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