# Strategic Capital Allocation in Digital Asset Markets

**Podcast:** The Milk Road Show
**Published:** 2026-06-22

## Transcript

So while we're still in this bottoming process, while we're still in this range, I don't feel a big rush to get off the sidelines with all my capital into into.
crypto again.
And I'm just going to kind of like see what happens this summer.
I think we've got another couple of months before we're going to start seeing people front run the expected bottom in October.
I think that's when everyone thinks Bitcoin will bottom and they're going to start making, you know, a more fulsome allocation of digital assets in Q4.
Because everyone is planning to do that, I think that the market is going to front run that.
So I think we will see the actual bottom prior to Q4 of this year.
What's up, everybody?
It's LG Ducet here and welcome to the Milk Road Show, the daily crypto show that they can't decide if it's time to top blast Micron or bottom blast Solana.
and is probably just going to stay sidelined instead.
Today is June 22nd, 2026.
Earlier today at 6 a.m.
my time in our creator huddle, which I somehow get up for, our crypto writer Chevy asked John if it was time to buy tokens.
And what followed was an absolute bomb going off as John sucked in breath to unleash an absolutely wild and bullish response.
Of course, it's time.
We'll get his usual thoughts on the state of the market, the state of the macro, and even find a little time to look at the milk or portfolios on today's episode.
Also, before we continue, Milk Road is hiring an investment analyst to uncover the biggest opportunities in AI, robotics space, biotech, emergent tech, anything else that you like that's part of the future.
We want somebody who's going to research companies, maybe put out some high conviction thesis, share a portfolio along with our other analysts.
If you think this is you, check out the link in the description.
If you think this is someone you know, definitely send it to them because we want you guys here.
Today's episode is brought to you by BitGet, stocks 2.0 with real liquidity, real dividends, and Nexo, earn interest, borrow, and trade crypto.
John, happy summer, bro.
Thanks, LG.
It's good to be here.
What did you do to celebrate the solstice?
Nothing particular.
I mean, I don't really do anything to celebrate the solstice.
I might get some ice cream at some point.
I don't know.
What do you do to celebrate the solstice?
New York is full of all these.
parades and weird little niches of people that want to do their prayers to the sun gods and all that kind of stuff and stay out all night for the shortest night of the year is that not true it's nice to talk to you again lg how you doing when was the last time you were in new york i guess they drained their animal spirits on the on the nix win a couple weeks back i don't even know when that was feels like a long time ago um i get it we'll see how long i can go without actually talking about crypto on today's episode but we should we should get into it pretty soon i'm doing well thank you um I was at the beach last night and I escaped right before the silent disco started, which is about 50 people wearing headphones all listening to the same thing.
And I think that was for solstice, but I didn't, I didn't, I didn't stick around to find out.
Let's put it that way.
I needed to get home and prepare for the week that was at milk road, sir.
Okay.
Yeah.
I, you know what?
Cool.
Sounds, sounds neato.
Sounds terrific.
That's the state of things up here in Canada.
Okay, John, let's get to the part that I actually tease with people.
Listen, you know, this morning we do this, we do this meeting and it's in the 30 minutes before the market opens.
And usually as long as you and I've been doing these shows and since we've been running this meeting, it's usually like pre-market for stocks usually looks good.
Although often it's been, it's looked bad as like the Iran deal has fallen apart, which is the same story we've had for like 10 or 11 weeks.
And yet the market has continued to go up.
But crypto we've kind of stagnated.
And what's funny is that although we talk about this exact question many times on the show, it did seem like it really struck a nerve for you today when Chevy, who writes our newsletter, does a fantastic job, also writes the X account for Milk Road.
He asked you, he was like, John, do you think it's time to buy tokens?
Which is hilarious because I feel like we talk about that all the time on the show.
And you've answered that many times.
Many of our guests have answered that.
But you seemed particularly enthralled this morning, John.
I don't know if I was particularly enthralled this morning, and I don't recall an explosion going off.
But yeah, I think Chevy in his question kind of stated the thesis that I've had for a long time, which is that the entire digital asset space is severely undervalued, overlooked, and undercapitalized right now.
And that makes a great bullish investment opportunity.
There's a lot of bullish divergence going on in terms of the strengthening fundamentals, the institutional bull run, the growing adoption of all these assets in the asset class.
and the divergence of price.
So yes, I think that's what I told them basically, right?
It's like, yes, there is a lot of opportunity in digital assets.
There's a lot of things that are being overlooked.
And I think now is a great time to be looking and taking advantage of that.
Guys, listen, we are at a very crucial point in time right now.
AI stocks have ripped.
They're going to keep ripping.
Our analysts on the AI side are up like literally 100% or more on quite a few calls.
crypto is about to boom again, or at least it feels that way.
If you want all the insight on what we're buying, what our analysts are doing, what's on their watch list, all of that is in Milk Road Pro.
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You know, what's funny too, is that I found that Martin, Moxed, as maybe some people know him, he also, when we're talking about the AI market, the stock market, he also pointed out, he's like, it feels like the market wants to rotate into something, but I don't know what.
And we've talked about this idea of this rotation into crypto, although they're vastly different asset classes, but also, The stock market is way bigger than crypto in the current state, but it does feel like if people start to take profits, that there is this idea that what's something that most people agree will go up relatively soon in terms of a couple of years, that is down bad right now.
And that is crypto.
Yeah, no, I agree with that for sure.
And I don't think there's going to be necessarily like a direct rotation from, you know, what's working now directly into crypto.
But I do think that it's the same thing that you're seeing all over the market.
There's an enormous amount of capital chasing a few names and a few trades.
And the rest of the market, whether or not there's good fundamentals or strong valuations, is unable to get capital and is seeing multiple compressions.
And so, yeah, it's a story that's happening everywhere.
But I think it's particularly acute in crypto right now.
And that's what happens.
bear market bottoms is you see like multi-year best investment opportunities in some of these assets.
And that's what I think people should be looking for.
I think people are kind of missing this right now.
Like what you should be doing is looking where everyone else is not and then being patient while you accumulate those positions.
I think that we're not going to see a rotation.
I think we're just going to see a continuation of momentum.
It seems like there should be a rotation, but that's...
We're just in a later stage of a bull run.
So I think that we're going to continue to see these IPOs come out and capital chasing that more speculation.
Coinbase announced that they're launching perpetual contracts on OpenAI and Anthropic for pre-IPO trading.
So we're going to see the same playbook run on these that there was on SpaceX.
Probably not quite at the same scale, but pretty close.
And then, yeah, it's just going to be the same thing.
The same hop all the money, the same retail speculation, the same exploitation trade is going to keep playing out.
And people are going to keep chasing that.
In the meantime, I think a lot of other value investors are going to be looking for assets that are, like I said, overlooked, undervalued, and have strong fundamentals and being allocating there.
And that's kind of the trade-off you have to make with your capital.
You cannot participate in this FOMO bullish blow-off top that we're seeing around all these AI trades and miss out on that there.
But you also protect yourself from the risk of...
becoming a bag holder.
And yeah, and then you can position yourself well for when that capital does begin to rotate or when these other assets do begin to participate in this bull run and we see a broadening out.
But either way, it's just, that's just kind of how I see this.
Absolutely.
I have a question for you, John.
You know, I often pester you with this question of like, when are you going to buy?
Because in Milkrow Pro, you have, I think like five or six, maybe 10 assets on your watch list.
They are alts that you like that you have not.
bought yet, but there's there are ones that you're watching either for a certain price or for some kind of development or even just for for all signals to kind of flash green again, I'm assuming.
Instead of asking you what it would take for you to buy any of those now, which I think is a little hard to answer.
Maybe can you maybe walk us through or at least give me a preview of how you managed last bear market?
And I know maybe you weren't as involved in the market.
I don't know.
You can tell us about that.
But what you were looking for in terms of bottoming signals, turnaround signals, last four years ago, which had vastly different circumstances, right?
There was FTX collapse, Luna collapse.
There was a few different markers, but we are entering that zone that a lot of experts have called and like, listen, if there's going to be a bottom, it's going to be sometime soon.
What types of elements or factors were you looking for last time that were clear?
You know, Solana's eight bucks.
Even if it goes lower, there's a lot of upside.
How did you identify that last time?
Or even if you don't have any, what did you wish you had identified?
What was obvious in retrospect?
You can even look at it that way.
So I think the way I think about this is in a bear market in digital assets, you want to try to find things that are going to perform well and that are going to survive it and come out of it stronger in a meaningful way.
And there are a couple of ways to go about that.
So I'll say the first thing to look for is has Bitcoin bottomed?
So the reason, to answer your question directly, that I haven't deployed a lot of my capital into altcoins or into just like I've got a big cash position is that I'm not convinced yet that Bitcoin has finished the bottoming process.
If we do, we're at 65K right now.
which is a little bit off of the February lows and the recent retest of the 60K low.
But I'm not convinced yet.
I haven't seen anything decisive from the market that's made me feel very confident that we're not going to dip below 60K, at least for a little bit.
So while we're still in this bottoming process, while we're still in this range, I don't feel a big rush to get off the sidelines with all my capital into crypto again.
And I'm just going to kind of like see what happens this summer.
I think we've got another couple of months before we're going to start seeing people front run the expected bottom in October.
I think that's when everyone thinks Bitcoin will bottom and they're going to start making a more fulsome allocation of digital assets in Q4.
Because everyone is planning to do that, I think that the market is going to front run that.
So I think we will see the actual bottom prior to Q4 of this year.
But I don't think it'll happen like this week, right?
So I could be wrong on this.
We could have already bottomed.
That's something I've talked about before too.
We could have seen a double bottom on Bitcoin form and we could already be moving higher.
Like the bear market could already be over.
But to me, it's still a probability thing and there's still a chance we might see lower lows on Bitcoin.
If we do see lower lows on Bitcoin, I'm expecting that we'll get some weakness in the alt space and I'll get a meaningfully better entry on some of these things.
But if Bitcoin flips 74K, 75K, and it seems like it's recovered and the bottom is held, so to speak, then I might be like, all right, the opportunity for a new low in Bitcoin seems to be less likely.
It could still happen, but less likely than just a continuation and back to a bull run.
So at that point, I would probably get the cash deployed into the altcoin space.
Now as to where to deploy that, You know, last cycle, Solana, I think, was a standout to me because it had already shown so much market adoption, drawn in so much attention and capital and found product market fit on a number of different things in an interesting and distinct way.
And then when it collapsed, I was like, OK, nothing has fundamentally changed about my thesis on Bitcoin and digital assets.
Solana has found a niche in the market that it seems to be competitive in.
I expect it'll do well on that.
So I started buying Solana when it went under $30.
But again, that was a bottoming process that took a long time.
That breakdown and collapse took a while for it to get down to $8.
My lowest buy on Solana, I think, was about $10.
It didn't happen overnight and I had to keep eating.
Like when you buy at $30 and it goes down to $20 and you buy some more and then it goes down to $10 and you buy some more.
That doesn't feel, when you're seeing a Solana trading over $200, that's like, oh wow, what great prices.
While that's actually happening in real time, you have to have a strong stomach.
And that's how I've become such a good digital asset investor is that I have the longer term thesis.
And I don't mind sitting at a loss or around my entry on things for a long time while the market comes to me.
And that's where the money is made is in the waiting.
That's from a, well, I can't remember the name of the book now, but it's a great book on investment.
The money is made in the waiting, right?
So you have to be able to pull the trigger and then you have to be able to watch it go against you and say like, the market's wrong.
This is going to play out differently and keep pulling the trigger.
The other thing I'll look for, and we're seeing this happen, but.
I look for projects that I believe in with a long-term thesis that have some sort of like idiosyncratic, cataclysmic type of thing happen to them that radically shakes market confidence.
Like the Zcash thing that happens, right?
Where it puked like 50% in a couple of days because of a rumored, you know, maybe infinite mint glitch.
The SWE blockchain paused four times.
And that to me is a great sign of an opportunity there because it shakes out of anybody who's not.
like got very, very strong fiery conviction.
The KelpDAO hack on Aave, I'm not positioning into DeFi more right now because I still think that there's some fallout from that and lack of confidence on DeFi at the moment.
But that was a really strong indicator to me like, okay, this is a great time to look at accumulating this.
So that's what I want to see.
But I want to see Bitcoin, feel confident on Bitcoin bottoming first.
And then yeah, find things that I think are strong, like Tau, Aave, Sui, Solana.
that have some sort of idiosyncratic thing that shakes out weak hands in the market and gives you a really good entry.
You don't necessarily always get these things, but that's what I kind of look for.
And then the other thing I'll just say is that nobody can ever have enough Bitcoin or Ethereum, at least right now.
That's my view.
That could change too, but I have a lot of that and I'm not selling it.
And I may accumulate more on that if we get lower lows on Bitcoin, but my...
The comfortableness I have in my position right now is that I have my bags packed on those two.
So even if we do go back to bullish momentum here, I'm already going to have more ETH and Bitcoin than anybody else.
That's what I want.
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Even just looking at timelines, you know, what you're saying about, this is a great thesis, what you're saying about the waiting for that real bottom.
signal.
And if you look at even something like Solana last time, you had this dip all the way to, I think it was like 25 bucks on June 13th, 2022.
And then this kind of reversal, and this is most of the market, but it didn't break back below that price.
until November, which was the FTX collapse.
And then even when it went to the 10 to like $15 range, that still lasted like two months until it really bottomed like right at New Year's at like seven and a half bucks, which it only spent like a, it only spent a couple of days there before it broke back above 15, back to like the twenties.
But even that, like, sure, you look at that as like a three or four X from that bottom, pretty quick reversal, but it didn't break back above.
like properly above that, like 30, 31 range all the way until like a year late until October, 2023.
So I think that that's even that.
And, you know, of course, yeah, buying it seven and a half bucks, eight bucks, 10 bucks, 20 bucks, all wonderful.
But it's like, you had so much time to do that, that there's so much time to be shaken out of the idea that it'll return.
And I think that that's one thing as we talk about bottoming and talking about this with a lot of our guests that.
Yeah, we're so obsessed with the bottom, the part that'll be like, that's the bottom.
But A, there's no way to know if that's the bottom.
And B, it doesn't mean that once it goes to bottom, it immediately just shoots back up to all-time highs.
Hopefully, this bear market or the reversal won't be as long as last time, take an entire year or more.
But it doesn't mean that once Bitcoin goes to its bottom of 55K, 50K, 35K, whatever you want to fantasize about, it doesn't mean that.
three months later, it's at 150.
And I think that that's, but I think the way we talk, when we talk about the bottom, we talk about it as though that'll happen, that it's like, if you miss that bottom, you will miss the generational opportunity.
And it's like, that's actually probably won't matter.
It'll bottom and then it'll still just piss you off for a while before it actually reverses.
That's just, you know, and you like to paraphrase Ben Cohen there often.
I love that saying as well, right?
That.
bear markets make fools out of bulls and bears and correct um you know those patterns will probably speak to that it'll probably be through the same process again yeah and i just think that that's the lesson i've learned is that i people always panic and talk about selling the top and calling the top properly I worry much more about missing buying the bottom, but because the bottoming process is usually much more of like a bathtub chart where it's like it goes down and then it stays there for a long time and then finally comes up, you don't have to rush to get in.
You just have to make sure that you are positioning yourself when you see these opportunities forming and then just know that, hey, you know, there could be another leg down here.
Don't get scared when that happens, but lean in harder.
When Jay Clayton sued XRP on his way out the door before Gary Gensler came in, I bought XRP before they stopped trading of it in the US because I was like, well, that's a big, big crash.
And if they don't win this case, that is going to recover enormously.
And it took a long time for that thesis to play out, but it did play out and it was trading over $3 or around $3 at some point.
So yeah.
from 20 cents to three bucks is it takes a long time sometimes for some of these things to play out, but you have to have your conviction and know what your thesis is and be comfortable for this for yourself because there's opportunity costs to these things too.
And I'm not saying that there aren't other things you could play in the markets or other ways to make money, but I think that this is a unique asset class in the sense that...
The asymmetric upside opportunity on a lot of these things is extreme.
And the attention right now and the amount of capital that's trying to get in at the moment is very, very low.
So it presents a really interesting opportunity.
But I have still some cash on the sideline because just like you said, we could see new lows.
chop for a long time in these range and I could accumulate more.
So yeah, that's just how I'm looking at it.
But yeah, it will wear you out based on time, based on price and just frustration in general.
So you have to really know what you're doing and why you're doing it and have your own thesis and conviction on it.
I think people are, I think, I think we're also obsessed with seeing those headlines from last time, right?
That it's like you had the chance to buy Solana $8, right?
And that that, you you'll you'll lose your shit waiting for that right you only had the chance to buy solana at eight dollars if you were watching solana grind from 2015 and then the three days or one week whatever we're just like wick down below there's a holidays too yeah you have to ignore your family to do that yeah you were locked in on digital assets then you got the chance to buy solana if you like i got it at 10 bucks just because i had a stink bid that i left on and was like oh my gosh i got filled right But if you're locked in on these things, then you get those opportunities.
If you're not, if you're chasing shiny objects at other parts of the market, you miss these incredible opportunities.
So that's why I'm so locked in on digital assets right now.
I just always look at things as a time kind of quadrant, right?
So even from that $8, $7.50 bottom, it took a year for that to 10x.
Right.
And I think people really fantasize about like, man, if I bought an eight bucks and sold it at 300, you know, it's just like, well, that's not, you have to hold it for two years and not take profit at any point and survive multiple dips.
Like even when it's a seven and a half dollars, it's still dipped back down to 11 at one point after like six months of being at 25.
Right.
So it's like, there's so many, I think, and you know, what's been really helpful is that I feel like last bear market, I just like.
I was just sad and just did something else in my life or just cried at the charts.
But I feel like actually doing the show with you and with a lot of the great guests that we have on has allowed me to dissect it and hopefully approach this eventual reversal in a far more disciplined way, right?
And to wait for the right signals, but also not wait too long.
And also to be ready, again, to almost like lower your expectations for the short term.
when you do feel like you snag a good deal on some of these assets because it's not a it's a rough road down and it's and it's not an easy road back up either yeah i agree with that i so look i think we are in ranges right now where i feel comfortable buying bitcoin below 70k is is a good deal you're seeing lots of good deals on other altcoins as well um so i think it's a great time to be shopping if you want to be shopping but i'm just also saying i'm not in an absolute rush like panic to buy these prices because I know it'll take time and we could we could see the markets move in different directions between now and the reversal.
So yeah, it's just this is a great time to be locked in on this.
Absolutely.
John, another important thing I wanted to discuss today and that we've kind of, you know, done our usual crypto talk is what's going on with our macro channels.
Obviously, macro is very important in Milk Road.
You know, we launched an entire channel for it a year ago.
And that is evolving.
And what we're actually doing, and as you guys know, anybody who's listening to this show, this is labeled a crypto show.
You get a lot of macro takes from John, from these shows that we do together, and also from some of our guests.
If you were listening to our macro podcast, John, that you ran for a year and did fantastic episodes, I think over 100 episodes, you will also notice that on those shows, Yes, you have some guests talk about like commodities and bigger macro things, but a lot of those conversations eventually either shifted to crypto or AI or both.
So actually we're making a couple of changes at Milk Road starting this week is that we will actually be taking a lot of those macro episodes or those macro guests, let's say, and kind of splitting them off into both shows because we have our AI show and this crypto show, and then there won't be a macro.
podcasts specifically anymore, but we're actually doing kind of like, we've actually kind of done like a bit of a fantasy draft of those upcoming guests behind the scenes and kind of decided like this fits more, this fits more crypto investors.
This fits more AI investors to kind of bolster those shows and kind of put a bit more of a macro like.
a base behind them, rather than keeping that entirely on its own channel, which I think is really cool.
And John, you did such a fantastic job on that show.
You've done a great job.
You're going to continue to do a great job finding a lot of those guests too, because I think a lot of people don't know that, that you were the one finding those people.
So I want to give you your flowers on that.
And there's a lot of fantastic episodes there.
And those episodes will still be there.
But I think important to note for people that listen to this show and also listen to the Macro Show and the I show, if you're a Milk Road obsessed.
podcast listener, that we are making that small change.
And you're going to get a few more macro kind of takes on this show.
And I think it's very important, and I'll let you kind of, this is your thing, so I'll let you give your take on it.
But personally, I think that that's actually really important right now, because as I teased in the intro, do you want to bottom blast crypto or do you want to top blast AI?
And macro factors for both are incredibly important right now.
As that rotation happens, as the assets eventually kind of flip in terms of their direction, whether that happens or not, we don't know.
But I think both of them are at opposite ends of the spectrum currently.
So understanding the bigger picture for both of those categories is probably more important than ever.
Yeah, I agree with that completely.
I think that, you know, first of all, I've really enjoyed doing Milk Road Macro.
It's been a great podcast and writing the newsletters and the pro reports on that has been really, really great way for me to like organize my thoughts and share that with the community and a good way to stay engaged with our community because our community is really locked in on the markets as well.
They're dialed into what's going on.
They ask really great questions and they've helped direct, you know, my own research and how I'm evaluating things as well.
So it's just been a really wonderful experience all around.
And yeah, I'm really glad that I got to interview so many awesome people on the macro channel because we've had a great run of guests there.
And I'm really proud of the content that we've done, the interviews we've gotten to have, the guests we've gotten to have.
So a lot of those people we're going to try to reach out to and continue to bring them on.
We'll also try to source different guests as well.
But yeah, I think everything you said makes a lot of sense.
And it's, to me, macro is really important to keep an eye on because it is the backdrop of all of these different things.
driving a lot more of these capital flows and market behaviors than I think people are sometimes aware of when you just look at prices from day to day.
So I think that that additional context is going to be really helpful.
I do want to make sure that we keep this channel crypto focused though, because I think that that's a distinctive that I want to continue to try to bring to the market, which is that as the macroeconomic landscape develops, evolves, the monetary involvement.
environment evolves and all these things economically, financially are changing.
They are moving in a direction where digital assets are going to have a much larger and more important role to play in all markets and all aspects of macroeconomics and finance.
And I think that underlining that and highlighting that on the show is something I really want to do.
I think Ethereum, for example, is one of the projects I haven't talked about, but Ethereum has had I think one of the best risk reward macro bets for the next five to 10 years on the market for, for a while.
And I think that'll continue.
And Ethereum has seen a lot of people get very, um, rage quitty and fuddy.
And, you know, the Ethereum foundation is, is shrinking in size and there's a lot of infighting amongst, um, Ethereans about, you know, the best way to like, you know, continue to go forward from here.
Um, but.
All that said, that's a huge opportunity because they are navigating these problems.
They are going to overcome these things.
The tokenization, the adoption of stable coins, and the rise of agentic finance are all going to drive an enormous amount of value to digital assets.
And Ethereum will be one of the major beneficiaries of that.
So I think that just understanding all of these things from a macro perspective is really important for people who are digital asset investors because there's more to this space than meme coins and NFTs.
And it's important to understand.
all of what's driving that so you can make decisions with your capital and understand more of what's going on.
So long-winded thoughts on this, but I just think that macro and digital assets are becoming more and more important to one another and intertwined with one another.
I think the same thing can be said of artificial intelligence too.
And all three of these things are kind of like moving together in a lot of a lot of important ways.
So trying to bring on experts who can speak to this and help our audience stay informed about these things is something I think is fun and that I'm very passionate about.
And I'm still going to be saying at the end of every episode, stay safe, stay educated, stay bullish, because those are still my goals for our audience and for myself.
So, yeah, I'm just I'm really excited about the evolution that we've done at Milk Road over time and how we're staying responsive to markets, to our.
audience and to continue to deliver the content that people want and need at this time.
So yeah, it's, it's going to be an interesting pivot from, from the macro content perspective.
But it's still going to be there and still be a big part of what we're doing here.
Yeah, absolutely.
And I think the other thing maybe we can talk about briefly, and we've mentioned this a few times on the show, but now we have a few editions of it that have been released, is the Milk Road Macro Index, which our product team has been working on for a long time with a lot of input from you and a lot of other analysts where it's basically taking all the macro indicators, especially the ones that have been covered in our Macro Pro Reports.
And if you study macro and you listen to macro, it's like you know that there are a litany of things to look at and that...
There's a lot of different ones that give you different ideas of what's going to happen to the market and a lot of ones that are spot on, some that are a little ambiguous and whatever.
So what these guys have done is actually combined a lot of those into one index that over time actually tracks pretty well with what has happened to the S&P and other major indexes in terms of giving you this kind of signal of...
Hey, it's a time to buy.
It's a time to sell.
It's time to be really risk.
More so, it's time to be risk on or risk off is really what this indicator is all about.
And what we're doing with it is not only if you're a Milk Road Pro member, you can go check it out anytime you want.
You can go look at it and check it every day if you want.
But also, it comes with this weekly Milk Road Macro Index brief, which, John, you're a big part of developing.
It comes out on Tuesdays.
It's on...
On Tuesdays, our crypto newsletter, which is the main Milk Road newsletter, is actually this brief.
So you can get that.
And then it's that's your free subscribers.
You don't have to be part of Milk Road Pro for that.
You can get it and read that on Tuesdays in our newsletter as well.
And it's and it's authored by you, John.
And it kind of gives you like a sense of what is going on, what the what the numbers are telling you.
And most importantly, what this means at the top, this number that tells you to be risk on.
or risk off right now just above risk on which is which is nice uh it's dipped into caution a few times in the last uh couple weeks but but hopefully relatively staying risk on right now Yeah, so there's a lot that goes into this, and just like you said, every week I write this brief, and I'm using a lot of the indicators that we're pulling together to do that.
But we're trying to get a comprehensive perspective on the economic side of the equation and the market side of the equation and synthesizing that information in a way that like… distills it down to things that people can understand.
So if you just want to look at the top line index to know which way the wind's blowing, that's there for you.
But if you want to read the brief and go through how we unpack all the different things that are underlying this index and how we're putting this all together, we lay that out and put it there so you can have a quick place to go and get a handle on all of this and then kind of go forward with your week as an investor.
So I think it's been a helpful resource.
We're continuing, like you said, to...
expand to improve and innovate on, on this.
But yeah, I think our, our, our community has really enjoyed it so far and we're going to continue to try to make that a place where we can add as much value as we can as succinctly as possible.
And then, you know, write it in plain English so people can understand easily what's going on.
I think it's really helpful.
Especially for someone like me that will listen to the occasional podcast and, and look at the occasional Russell 2000, but having it consulted into a nifty number.
And then also I think, Having you lead us there with your, you know, kind of taking your analysis of what all that means, I think is, is incredibly helpful and valuable.
And again, subscribe to the newsletter on the crypto side and you'll get that every Tuesday.
John, I kind of want to wrap up here.
Is there anything that you are desperately watching this week?
It feels like the war has reached just this ambiguous, have they signed the paper or not?
kind of stage where it does feel like kind of its old news.
People are focused on the World Cup.
SpaceX has come and passed.
What is on your radar these days from a macro, crypto, AI, whatever perspective?
Or are you just kind of ready to take a little bit of summer break?
I'm just watching, right?
Like I have a pretty large cash position.
I've got some bids set on Bitcoin if it goes lower.
I'm watching a lot of the broader alt space if that goes lower.
So I think this is a perfect time to just like...
Just like I said, pay attention, watch, wait, stay prepared.
The biggest thing that's happened, I think, is Warsh, as the chairman of the Fed, came out and said that he's going to make a lot of changes to the Federal Reserve, but he's also launching five task forces to reevaluate the entire institution from the ground up.
I'm really excited to see what that looks like as those reports start to come out, as those changes start to be implemented.
What does monetary policy look like?
How does that impact markets?
Who benefits?
Who's the winners and losers?
How's it different from monetary policy under Powell, under Bernanke, under Greenspan, et cetera?
So I think that that is like a change to the market that a lot of people haven't really understood totally yet because we're still learning what that means and what that looks like.
But I think that's really exciting because we've got somebody who is a former member of the Board of Governors of the Federal Reserve who is now the chairman, who has had a long time to think about this institution and how it does business.
who has a close relationship with the Secretary of the Treasury of the United States, and both of them have a plan.
They have a plan that they want to put into place for how to manage both the Treasury and the Fed and how they want to do this to the advantage of the United States and the continued dominance of our capital markets and of our bond markets and our dollars.
So I'm just excited to see what that looks like and how that plays out, because I think it's going to be positive for the institution, but also for markets.
And I think it'll be different than what we've seen in the past.
And I'm just excited to see how it plays out.
Anytime you get...
some kind of like openness to change or improvement from an institution like the Federal Reserve.
I think that that's an interesting and exciting thing.
So I'm watching that.
It'll be a while before we see what happens on that.
But I think that's actually one of the biggest like.
macro changes that's going on at the moment.
Another thing is that inflation pressures have come off a lot.
The price of oil has come down.
The price of urea has come down.
It's not clear yet whether or not that will impact this harvest season for food prices for 2027.
But inflation forecasts should be coming to the...
to the downside now that oil is coming off and hopefully that continues if they can actually get the straight opened.
But a lot of these things are just generally constructive and bullish for markets.
So I think that there's a lot of reason to think that we'll see a continuation of the bull run that we're in.
We're not to the end of it yet.
And, you know, I don't know if they want to run it hot and go higher for longer and we'll see how long that lasts, but it's just a great time to be paying attention and looking for opportunities because there's just so much of it right now.
Kyle's made two, two added two things to his portfolio, which is rare.
Kyle, similar to you is rare to make moves.
Uh, he also cut one of his positions on Friday, which was interesting.
So anyways, you can check all that out.
You want to see what they are.
They're a dollar and milk road pro.
You go to the trades page and you'll see Kyle owns the last three trades and milk road.
So, um, you check those out.
Otherwise, John, thank you for your thoughts, man.
Um, the great week ahead on both, both podcasts and, uh, hopefully you find some time to, to.
relax or touch great touch grass as you wait if there is any grass in nyc i don't really know um but thank you sir thank you for your thoughts and and be right back here i mean we'll be here every day on the podcast we'll be back here next monday for another little chat thanks lg thank you wartime want insights on what's moving crypto markets and how we're trading each event subscribe to our channel Join the Milk Road daily and pro newsletters and start investing like the top 1%.
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