Met with the CFO of a large foundation with nearly $2 billion in management. Acknowledged gold is on a tear and Bitcoin has an impressive CAGR. But they’re not going to stick with equities and bonds because they’ve performed mostly well since the foundation’s founding in 1959. I said, “why not allocate 1% as a hedge?” No, he says, “I’m an old school optimist.”
We’re still early.
