Raoul Pal Reveals Portfolio Update Amid The Latest Market Havoc
Raoul Pal, economist and investment strategist, is looking into what’s next for the crypto market, as majority of the digital assets have had a rough past several weeks.
Pal spoke with Bankless podcast, said that in addition to maintaining his holdings, he bought into stocks that could be very profitable in the long run.
“I’ve not sold a single thing. I’ve started to average in on the ‘growth’ tech stocks… into the carnage because if I’m right and this is a super trend, a super cycle, then you want to be owning this stuff for the long run.
Which companies are going to succeed or fail? We don’t know, so you buy baskets of stuff, much like you might do if you wanted to capture the movement in crypto. Crypto’s the same. If you believe that that network adoption continues, then this is when you should be buying.”
Talking about his crypto portfolio, Pal says that he added some of the riskier assets into his basket, but also played around with call options on leading smart contract platform Ethereum (ETH).
“I’m trying to capture the overall space. As ever, a bunch of the more speculative end of stuff always feels terrible in the bear market, and who knows what’s going to survive and what’s going to work? But that’s the thesis and that’s why you buy a basket, and it’s only a small part of the overall.
Since then… I had a go at buying calls on ETH to say if the previous pattern kind of held out then we could have seen a run in December through to March, which failed to happen, but I added 5% in call options and that didn’t work out.”
The investment strategist also touched the non-fungible token (NFT) space as well, and mentioned Yuga Labs’ Bored Ape Yacht Club (BAYC) as employing a community-focused model.
“I bought some NFTs. I got involved in the Bored Ape thing because… I love what Yuga was doing, that’s the playbook that’s been in my head, which is you build engagement and utility with NFTs and then you build a social token around it. That’s been the playbook that I’m building a business around as well.
The moment I saw that the ApeCoin (APE) was actually coming out and saw what they’d done with Larva Labs, I thought I need to get in and I want to own part of this ecosystem and hold it for the long run because this is something very interesting.”
