Thank you members of the Commerce Committee for the opportunity to speak with the American people about Twitter and §230. My remarks will be brief to get to questions. §230 is the most important law protecting internet speech. Removing §230 will remove speech from the internet.
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What an amazing presentation! Loved how @ravidharamshi77 brilliantly started off with global macros & capital markets, and then gradually migrated to Indian equities, summing up his thesis for a bull market case!
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
Bubble or Bull Market? Join us for a short presentation and candid one on one on 27th Jan, 4pm with Shri \u2066@MadhusudanKela\u2069. \u2066@VQIndia\u2069 \u2066@sameervq\u2069 #bubbleorbullmarket pic.twitter.com/LBvlBrz6mS
— Ravi Dharamshi (@ravidharamshi77) January 24, 2021
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).