In his much-anticipated return to Real Vision, John Burbank speaks about his new global outlook and investment strategy with Thiel Macro portfolio manager Michael Green. Burbank, the founder, and CIO of Passport Capital explains why he sees significant opportunities in cryptocurrencies. He also discusses his bullish view on Saudi equities and his thesis about the ways in which technology is drastically changing the broader economy across numerous sectors.
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Deciding When To Invest (w/ John Burbank) | Interview | Real Vision™
You can only see so much of the picture. It's a a Polaroid. It's changing in front of your eyes, but it's still very fuzzy. Do you have to wait until it's a full on, perfect, as good as it's going to get picture before you say, OK, I'm going to participate? Invest? Learn? Or do you say, OK I've seen enough to say the probability is that it's going to turn into a picture that I like, and others will see it, and others will follow, and adoption will happen. With crypto, I see it's changing finance and startups. I see public companies looking at it. I see all these potential securities that could be security tokens that wouldn't be public companies, but have benefits to create holders of these. There's a reason why it should be liquid. More liquid than it is. I guess I'd say that I've seen enough. I'm putting time in to say, I think this will develop into something much more meaningful. Seeing what it's going to become before the market is 101 in investing. It's like, oh, my god. You should invest in this company, this asset class, this place, this whatever. Again, I'm using this as partly the most liquid and the most, I think, globally interesting right now. It's like the Vanguard of what's happening in every old sector. Finance is a big one. And so I'm looking at it like, it's not only for what it is and what it will become. The adoption is also a cultural- - that rate is also helping me see the rate of change in many other things. Those are the things that aren't very liquid, and may involve more gatekeepers, like in health care. It's starting in finance. It'll end in commerce for a lot of this. It will be very, very volatile. There will be lots of losers, but there will also be, I think, more enormous winners in the asset class than anywhere else. I think. And I think, if I'm right, that being liquid and being globally developed at the same time is going to compress the time it takes to actually get from, oh, my gosh, what is this? To, oh, that's the solution for some protocol need, or horizontal need, or whatever. If that's correct, then actually, the chance of appreciation is higher here than in most other asset classes. Even though it's already risen. A lot of it's already risen so much.
Filmed on May 22, 2018 in San Francisco.