Cryptocurrency Mania: What's Your Edge?

Crypto is an increasingly dominant topic of conversation among investors, but is it a genuine asset class or is Bitcoin and the like the latest in a long list of financial manias, asks Dan Kemp? 

Dan Kemp 24 May, 2021 | 10:29AM
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Cryptocurrency is an increasingly dominant topic of conversation in the re-opened pubs of the Square Mile as professional investors try to understand whether they are a genuine asset class or simply the latest in a long list of financial manias.

As long-term, valuation-driven investors who take the stewardship of our investors’ capital seriously, it is tempting to ignore the convulsions occurring in one corner of the capital markets and focus our attention and resources on assets with more predictable outcomes. However, experience has taught us that excess in one part of the capital markets can metastasise, impacting all investors and therefore cannot be ignored.

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Dan Kemp

Dan Kemp  is Chief Investment Officer, Morningstar Investment Management EMEA

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