Published on: April 5th, 2021 • Duration: 35 minutes
Troy Gayeski, co-chief investment officer of SkyBridge Capital, joins Real Vision’s Jack Farley to break down how he thinks the rapidly changing economic and financial landscape is affecting his outlook for fixed-income, equities, and Bitcoin as well as hedge fund strategies such as long/short equities and convertible bond arbitrage. Gayeski argues that rising yields render much of the fixed-income world unattractive but that pockets of opportunity exist in structured credit, which is more immune to interest rate risk. He argues that Bitcoin is attractive to institutional allocators as a way to get exposure to central bank balance sheet expansion and explains why Bitcoin now comprises a double-digit percentage in SkyBridge’s portfolio. Gayeski also shares his views on macroeconomic variables such as inflation, growth, and interest rates as well as his take on the ongoing rotation from growth stocks into value equities.